PBF Energy (NYSE:PBF) Now Covered by Bank of America

Equities research analysts at Bank of America initiated coverage on shares of PBF Energy (NYSE:PBF) in a report released on Thursday, StockNewsAPI reports. The firm set an “underperform” rating and a $25.00 price target on the oil and gas company’s stock. Bank of America‘s target price indicates a potential downside of 22.84% from the company’s previous close.

A number of other analysts also recently issued reports on PBF. Wolfe Research initiated coverage on shares of PBF Energy in a report on Thursday, July 18th. They issued a “peer perform” rating on the stock. Mizuho lowered their price objective on shares of PBF Energy from $42.00 to $36.00 and set a “neutral” rating on the stock in a report on Wednesday, October 9th. JPMorgan Chase & Co. cut shares of PBF Energy from an “overweight” rating to a “neutral” rating and decreased their target price for the company from $53.00 to $40.00 in a research note on Wednesday, October 2nd. Tudor Pickering raised shares of PBF Energy to a “strong sell” rating in a research note on Monday, September 9th. Finally, Morgan Stanley decreased their target price on shares of PBF Energy from $48.00 to $38.00 and set an “equal weight” rating for the company in a research note on Monday, September 16th. Four analysts have rated the stock with a sell rating, eleven have assigned a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $36.09.

PBF Energy Stock Performance

Shares of PBF stock opened at $32.40 on Thursday. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.75 and a current ratio of 1.42. PBF Energy has a 52 week low of $30.17 and a 52 week high of $62.88. The company has a market capitalization of $3.84 billion, a P/E ratio of 2.24 and a beta of 1.55. The company’s 50 day moving average price is $33.27 and its two-hundred day moving average price is $42.74.

PBF Energy (NYSE:PBF) last posted its quarterly earnings data on Thursday, August 1st. The oil and gas company reported ($0.54) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.39). PBF Energy had a net margin of 2.09% and a return on equity of 12.81%. The business had revenue of $8.74 billion during the quarter, compared to analyst estimates of $8.64 billion. During the same quarter last year, the business earned $2.29 earnings per share. PBF Energy’s revenue for the quarter was down 4.6% on a year-over-year basis. On average, analysts expect that PBF Energy will post -0.05 earnings per share for the current fiscal year.

Insider Activity

In other PBF Energy news, insider Control Empresarial De Capital bought 307,000 shares of PBF Energy stock in a transaction dated Thursday, August 1st. The stock was bought at an average price of $39.22 per share, with a total value of $12,040,540.00. Following the completion of the transaction, the insider now owns 18,079,598 shares in the company, valued at $709,081,833.56. The trade was a 0.00 % increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Over the last 90 days, insiders acquired 2,952,300 shares of company stock valued at $97,300,026. 5.30% of the stock is owned by company insiders.

Institutional Investors Weigh In On PBF Energy

A number of institutional investors have recently modified their holdings of PBF. Janus Henderson Group PLC raised its stake in PBF Energy by 957.8% in the first quarter. Janus Henderson Group PLC now owns 604,674 shares of the oil and gas company’s stock valued at $34,811,000 after purchasing an additional 547,509 shares in the last quarter. SG Americas Securities LLC raised its stake in PBF Energy by 14,785.7% in the first quarter. SG Americas Securities LLC now owns 543,029 shares of the oil and gas company’s stock valued at $31,262,000 after purchasing an additional 539,381 shares in the last quarter. Hsbc Holdings PLC raised its stake in PBF Energy by 246.5% in the second quarter. Hsbc Holdings PLC now owns 499,456 shares of the oil and gas company’s stock valued at $22,881,000 after purchasing an additional 355,329 shares in the last quarter. Acadian Asset Management LLC raised its stake in PBF Energy by 32.9% in the second quarter. Acadian Asset Management LLC now owns 1,401,667 shares of the oil and gas company’s stock valued at $64,489,000 after purchasing an additional 347,268 shares in the last quarter. Finally, Natixis acquired a new position in PBF Energy in the first quarter valued at about $16,269,000. Institutional investors own 96.29% of the company’s stock.

PBF Energy Company Profile

PBF Energy Inc, through its subsidiaries, engages in refining and supplying petroleum products. The company operates in two segments, Refining and Logistics. It produces gasoline, ultra-low-sulfur diesel, heating oil, diesel fuel, jet fuel, lubricants, petrochemicals, and asphalt, as well as unbranded transportation fuels, petrochemical feedstocks, blending components, and other petroleum products from crude oil.