PBF Energy (NYSE:PBF) Rating Lowered to Strong Sell at Tudor Pickering

PBF Energy (NYSE:PBF) was downgraded by investment analysts at Tudor Pickering from a “hold” rating to a “strong sell” rating in a research note issued on Monday,Zacks.com reports.

Other equities research analysts have also issued research reports about the stock. Bank of America increased their price objective on shares of PBF Energy from $16.00 to $21.00 and gave the stock an “underperform” rating in a report on Wednesday, September 3rd. Piper Sandler increased their price target on shares of PBF Energy from $22.00 to $29.00 and gave the company an “underweight” rating in a research note on Thursday, September 11th. Scotiabank reissued a “sector perform” rating and issued a $25.00 price target (up previously from $16.00) on shares of PBF Energy in a report on Friday, July 11th. Tudor, Pickering, Holt & Co. downgraded PBF Energy from a “hold” rating to a “sell” rating and set a $24.00 price objective on the stock. in a report on Monday. Finally, Morgan Stanley increased their price objective on PBF Energy from $20.00 to $24.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 16th. One research analyst has rated the stock with a Buy rating, seven have assigned a Hold rating and six have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Reduce” and a consensus price target of $25.54.

PBF Energy Trading Up 9.6%

Shares of PBF opened at $30.61 on Monday. The stock has a fifty day moving average price of $25.35 and a two-hundred day moving average price of $21.58. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.55 and a current ratio of 1.31. PBF Energy has a 52-week low of $13.61 and a 52-week high of $34.31. The company has a market cap of $3.54 billion, a price-to-earnings ratio of -3.56 and a beta of 0.98.

PBF Energy (NYSE:PBF) last announced its earnings results on Thursday, July 31st. The oil and gas company reported ($1.03) EPS for the quarter, topping the consensus estimate of ($1.19) by $0.16. PBF Energy had a negative return on equity of 17.46% and a negative net margin of 3.24%.The company had revenue of $7.48 billion for the quarter, compared to analysts’ expectations of $6.65 billion. During the same quarter in the prior year, the business earned ($0.54) earnings per share. The business’s revenue for the quarter was down 14.4% on a year-over-year basis. Analysts predict that PBF Energy will post -1.12 EPS for the current fiscal year.

Institutional Trading of PBF Energy

Hedge funds have recently bought and sold shares of the stock. T. Rowe Price Investment Management Inc. lifted its position in PBF Energy by 170.7% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 5,728,843 shares of the oil and gas company’s stock valued at $109,364,000 after acquiring an additional 3,612,447 shares in the last quarter. AQR Capital Management LLC raised its stake in shares of PBF Energy by 230.7% in the 2nd quarter. AQR Capital Management LLC now owns 2,085,060 shares of the oil and gas company’s stock valued at $45,183,000 after purchasing an additional 1,454,500 shares during the period. Norges Bank acquired a new stake in PBF Energy in the 2nd quarter valued at approximately $24,599,000. BNP Paribas Financial Markets boosted its position in PBF Energy by 276.2% during the 2nd quarter. BNP Paribas Financial Markets now owns 1,028,799 shares of the oil and gas company’s stock worth $22,294,000 after acquiring an additional 755,310 shares during the last quarter. Finally, Nuveen LLC bought a new position in shares of PBF Energy during the 1st quarter worth approximately $13,600,000. 96.29% of the stock is currently owned by institutional investors and hedge funds.

About PBF Energy

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.