Weiss Ratings Reaffirms "Sell (D+)" Rating for PBF Energy (NYSE:PBF)

Key Points

• Weiss Ratings has reaffirmed a "Sell (D+)" rating for PBF Energy, highlighting concerns about the company’s stock performance.
• Recent ratings from other analysts include a downgrade from Tudor, Pickering, Holt & Co. to "Sell" with a target price of $24.00, lower than several other analysts' price targets.
• PBF Energy's stock currently has an average rating of "Reduce" with an average target price of $25.92, reflecting a cautious outlook among analysts.

PBF Energy (NYSE:PBF - Get Free Report)'s stock had its "sell (d+)" rating reaffirmed by research analysts at Weiss Ratings in a report issued on Wednesday,Weiss Ratings reports.

A number of other equities research analysts have also commented on the stock. Tudor, Pickering, Holt & Co. lowered shares of PBF Energy from a "hold" rating to a "sell" rating and set a $24.00 price objective on the stock. in a research note on Monday, September 15th. Tudor Pickering downgraded shares of PBF Energy from a "hold" rating to a "strong sell" rating in a report on Monday, September 15th. Scotiabank reiterated a "sector perform" rating and issued a $25.00 target price (up previously from $16.00) on shares of PBF Energy in a report on Friday, July 11th. Morgan Stanley set a $27.00 target price on shares of PBF Energy and gave the stock an "underweight" rating in a research report on Friday, October 3rd. Finally, Piper Sandler raised their price objective on shares of PBF Energy from $22.00 to $29.00 and gave the company an "underweight" rating in a research report on Thursday, September 11th. One research analyst has rated the stock with a Buy rating, five have given a Hold rating and eight have assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Reduce" and an average target price of $25.92.

PBF Energy Stock Performance

Shares of PBF stock opened at $29.75 on Wednesday. The company has a market capitalization of $3.44 billion, a price-to-earnings ratio of -3.46 and a beta of 0.85. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.55 and a current ratio of 1.31. The company has a 50-day simple moving average of $27.12 and a 200 day simple moving average of $22.69. PBF Energy has a 52 week low of $13.61 and a 52 week high of $34.29.

PBF Energy (NYSE:PBF - Get Free Report) last issued its quarterly earnings results on Thursday, July 31st. The oil and gas company reported ($1.03) earnings per share for the quarter, topping analysts' consensus estimates of ($1.19) by $0.16. The company had revenue of $7.48 billion during the quarter, compared to the consensus estimate of $6.65 billion. PBF Energy had a negative net margin of 3.24% and a negative return on equity of 17.46%. The firm's quarterly revenue was down 14.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.54) EPS. On average, sell-side analysts predict that PBF Energy will post -1.12 earnings per share for the current year.

Insider Activity

In other news, SVP Trecia M. Canty sold 50,000 shares of the company's stock in a transaction dated Thursday, September 25th. The shares were sold at an average price of $34.13, for a total transaction of $1,706,500.00. Following the completion of the sale, the senior vice president owned 173,332 shares of the company's stock, valued at $5,915,821.16. This represents a 22.39% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Connor Thomas L. O sold 30,000 shares of the stock in a transaction that occurred on Thursday, September 25th. The stock was sold at an average price of $34.00, for a total transaction of $1,020,000.00. Following the completion of the sale, the senior vice president directly owned 207,984 shares of the company's stock, valued at $7,071,456. This represents a 12.61% decrease in their ownership of the stock. The disclosure for this sale can be found here. 5.30% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Farther Finance Advisors LLC boosted its position in shares of PBF Energy by 25.0% during the 2nd quarter. Farther Finance Advisors LLC now owns 2,609 shares of the oil and gas company's stock valued at $57,000 after acquiring an additional 522 shares during the last quarter. GAMMA Investing LLC grew its holdings in PBF Energy by 11.6% during the 3rd quarter. GAMMA Investing LLC now owns 5,041 shares of the oil and gas company's stock valued at $152,000 after purchasing an additional 525 shares during the last quarter. Teacher Retirement System of Texas raised its position in PBF Energy by 4.2% in the 2nd quarter. Teacher Retirement System of Texas now owns 13,220 shares of the oil and gas company's stock worth $286,000 after purchasing an additional 527 shares during the period. Bank of Montreal Can lifted its stake in PBF Energy by 5.7% in the second quarter. Bank of Montreal Can now owns 11,734 shares of the oil and gas company's stock worth $254,000 after purchasing an additional 629 shares during the last quarter. Finally, Signaturefd LLC boosted its position in shares of PBF Energy by 8.1% during the second quarter. Signaturefd LLC now owns 8,872 shares of the oil and gas company's stock valued at $192,000 after buying an additional 664 shares during the period. 96.29% of the stock is currently owned by institutional investors.

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.

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