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

Key Points

• Wall Street Zen downgraded PBF Energy from “buy” to “hold,” adding to a generally cautious analyst outlook on the stock.
• The broader analyst consensus remains weak: MarketBeat cites a “Reduce” consensus rating with a $36.69 average price target, while other firms have recently issued neutral or sell-leaning views.
• PBF Energy’s shares were up 7.8% and opened at $57.31, near its 52-week high of $58.07, even as the company reported a quarterly EPS miss and saw insider selling in recent months.

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 report issued to clients and investors on Tuesday.

Several other analysts have also recently issued reports on PBF. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of PBF Energy in a research note on Monday, May 11th. BMO Capital Markets lifted their target price on shares of PBF Energy from $43.00 to $50.00 and gave the stock a "market perform" rating in a research note on Thursday, April 2nd. The Goldman Sachs Group assumed coverage on shares of PBF Energy in a report on Friday, April 10th. They issued a "neutral" rating and a $49.00 target price on the stock. Zacks Research cut shares of PBF Energy from a "strong-buy" rating to a "hold" rating in a research note on Monday, June 8th. Finally, Mizuho raised their price target 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. Two research analysts have rated the stock with a Buy rating, ten have given a Hold rating and four have assigned a Sell rating to the company. According to MarketBeat.com, PBF Energy presently has a consensus rating of "Reduce" and a consensus price target of $36.69.

PBF Energy Stock Up 7.8%

NYSE:PBF opened at $57.31 on Tuesday. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.31 and a quick ratio of 0.62. The company's fifty day moving average price is $43.01 and its 200-day moving average price is $39.49. PBF Energy has a 1-year low of $21.24 and a 1-year high of $58.07. The firm has a market capitalization of $6.78 billion, a P/E ratio of 15.45, a PEG ratio of 0.16 and a beta of 0.11.

PBF Energy (NYSE:PBF - Get Free Report) last issued its quarterly earnings data on Thursday, April 30th. The oil and gas company reported ($0.88) EPS for the quarter, missing analysts' consensus estimates of ($0.79) by ($0.09). PBF Energy had a negative return on equity of 4.12% and a net margin of 1.46%.The firm had revenue of $7.90 billion for the quarter, compared to analyst estimates of $7.32 billion. During the same period in the previous year, the business earned ($3.53) EPS. PBF Energy's revenue for the quarter was up 11.9% compared to the same quarter last year. As a group, equities research analysts anticipate that PBF Energy will post 8.26 EPS for the current year.

Insider Activity

In other news, insider Control Empresarial De Capital sold 270,000 shares of the firm's stock in a transaction that occurred on Thursday, July 9th. The shares were sold at an average price of $53.18, for a total value of $14,358,600.00. Following the completion of the transaction, the insider owned 15,812,128 shares of the company's stock, valued at approximately $840,888,967.04. This trade represents a 1.68% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In the last quarter, insiders sold 3,441,570 shares of company stock valued at $160,335,386. 5.50% of the stock is currently owned by insiders.

Institutional Trading of PBF Energy

Hedge funds have recently added to or reduced their stakes in the company. Goldman Sachs Group Inc. increased its position in shares of PBF Energy by 127.9% during the fourth quarter. Goldman Sachs Group Inc. now owns 6,327,255 shares of the oil and gas company's stock worth $171,595,000 after purchasing an additional 3,550,820 shares in the last quarter. State of New Jersey Common Pension Fund D acquired a new stake in shares of PBF Energy in the 4th quarter valued at about $1,485,000. Hsbc Holdings PLC boosted its position in shares of PBF Energy by 81.7% in the 4th quarter. Hsbc Holdings PLC now owns 67,674 shares of the oil and gas company's stock valued at $1,840,000 after purchasing an additional 30,430 shares during the period. Jefferies Financial Group Inc. grew its stake in PBF Energy by 7,210.8% during the 4th quarter. Jefferies Financial Group Inc. now owns 628,215 shares of the oil and gas company's stock worth $17,037,000 after buying an additional 619,622 shares during the last quarter. Finally, Brandywine Global Investment Management LLC grew its stake in PBF Energy by 351.3% during the 4th quarter. Brandywine Global Investment Management LLC now owns 265,493 shares of the oil and gas company's stock worth $7,200,000 after buying an additional 206,666 shares during the last quarter. Institutional investors and hedge funds own 96.29% of the company's stock.

About PBF Energy

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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