PBF Energy (NYSE:PBF) Downgraded to Hold Rating by Wall Street Zen

Key Points

• Wall Street Zen downgraded PBF Energy from a buy to a hold rating, adding to a generally cautious analyst outlook on the stock.
• Other firms have mostly been neutral or bearish: the stock has an average rating of “Reduce” and an average target price of $36.46, well below its recent trading level around $43.
• PBF Energy reported a Q1 earnings miss with EPS of -$0.88 versus expectations of -$0.79, though revenue of $7.90 billion topped estimates and rose 11.9% year over year.

PBF Energy (NYSE:PBF - Get Free Report) was downgraded by stock analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a research note issued to investors on Sunday.

Other equities research analysts have also recently issued reports about the company. The Goldman Sachs Group began coverage on PBF Energy in a research note on Friday, April 10th. They set a "neutral" rating and a $49.00 price objective for the company. Citigroup lifted their target price on PBF Energy from $36.00 to $43.00 and gave the company a "neutral" rating in a research note on Friday, May 1st. Mizuho boosted their target price on shares of PBF Energy from $43.00 to $48.00 and gave the stock a "neutral" rating in a report on Wednesday, May 27th. TD Cowen decreased their price target on shares of PBF Energy from $41.00 to $36.00 and set a "sell" rating for the company in a research report on Monday, April 27th. Finally, Morgan Stanley raised their price target on shares of PBF Energy from $34.00 to $38.00 and gave the company an "underweight" rating in a report on Friday, June 12th. Two research analysts have rated the stock with a Buy rating, eight have given a Hold rating and five have issued a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of "Reduce" and an average target price of $36.46.

PBF Energy Stock Up 2.0%

PBF Energy stock opened at $43.13 on Friday. The stock has a market cap of $5.10 billion, a PE ratio of 11.63, a price-to-earnings-growth ratio of 0.14 and a beta of 0.12. PBF Energy has a one year low of $20.98 and a one year high of $52.18. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.62 and a current ratio of 1.31. The stock has a fifty day moving average of $40.99 and a 200 day moving average of $37.78.

PBF Energy (NYSE:PBF - Get Free Report) last posted its earnings results on Thursday, April 30th. The oil and gas company reported ($0.88) earnings per share for the quarter, missing analysts' consensus estimates of ($0.79) by ($0.09). The company had revenue of $7.90 billion for the quarter, compared to analysts' expectations of $7.32 billion. PBF Energy had a negative return on equity of 4.12% and a net margin of 1.46%.The firm's quarterly revenue was up 11.9% on a year-over-year basis. During the same quarter in the prior year, the company earned ($3.53) EPS. As a group, sell-side analysts predict that PBF Energy will post 7.69 EPS for the current year.

Insider Buying and Selling at PBF Energy

In related news, insider Control Empresarial De Capital sold 362,000 shares of the company's stock in a transaction dated Wednesday, April 29th. The stock was sold at an average price of $43.50, for a total transaction of $15,747,000.00. Following the transaction, the insider directly owned 18,891,698 shares of the company's stock, valued at $821,788,863. This represents a 1.88% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, SVP James E. Fedena sold 77,085 shares of the stock in a transaction dated Tuesday, March 31st. The shares were sold at an average price of $49.60, for a total value of $3,823,416.00. Following the completion of the sale, the senior vice president owned 139,016 shares of the company's stock, valued at approximately $6,895,193.60. This trade represents a 35.67% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 1,767,026 shares of company stock worth $81,337,598. 5.50% of the stock is owned by company insiders.

Hedge Funds Weigh In On PBF Energy

Hedge funds and other institutional investors have recently modified their holdings of the stock. First Eagle Investment Management LLC lifted its stake in shares of PBF Energy by 7.9% during the third quarter. First Eagle Investment Management LLC now owns 547,546 shares of the oil and gas company's stock worth $16,519,000 after buying an additional 40,129 shares during the period. Dynamic Technology Lab Private Ltd acquired a new position in shares of PBF Energy in the 3rd quarter valued at $823,000. Quantbot Technologies LP acquired a new position in shares of PBF Energy in the 3rd quarter valued at $1,546,000. Goldman Sachs Group Inc. increased its position in shares of PBF Energy by 127.9% in the 4th quarter. Goldman Sachs Group Inc. now owns 6,327,255 shares of the oil and gas company's stock valued at $171,595,000 after acquiring an additional 3,550,820 shares during the period. Finally, State of New Jersey Common Pension Fund D purchased a new position in PBF Energy in the 4th quarter worth $1,485,000. 96.29% of the stock is owned by hedge funds and other institutional investors.

PBF Energy Company Profile

PBF Energy, Inc is an independent petroleum refiner organized in 2008 and headquartered in Parsippany, New Jersey. The company began trading on the New York Stock Exchange in July 2012 under the ticker symbol PBF. Since its formation, PBF Energy has grown through acquisitions and operational optimization, positioning itself as a leading supplier of refined petroleum products in the United States.

The company owns and operates five refineries located along the U.S. Gulf Coast, East Coast and in the Pacific Northwest, with a combined crude oil processing capacity of approximately 900,000 barrels per day.

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