PBF Energy (NYSE:PBF) Earns “Hold” Rating from Royal Bank of Canada

Royal Bank of Canada reiterated their hold rating on shares of PBF Energy (NYSE:PBF) in a report published on Thursday, Anlyst Ratings reports. They currently have a $8.00 target price on the oil and gas company’s stock.

Several other equities analysts have also recently commented on PBF. Mizuho cut their price target on PBF Energy from $18.00 to $16.00 and set a buy rating for the company in a report on Wednesday, July 22nd. ValuEngine raised PBF Energy from a buy rating to a strong-buy rating in a report on Thursday, July 2nd. JPMorgan Chase & Co. cut their price target on PBF Energy from $8.00 to $6.00 and set an underweight rating for the company in a report on Friday, September 11th. Morgan Stanley cut their price target on PBF Energy from $12.00 to $11.00 and set an equal weight rating for the company in a report on Tuesday, August 11th. Finally, Piper Sandler dropped their target price on PBF Energy from $12.00 to $11.00 and set a neutral rating for the company in a report on Friday, July 24th. Nine analysts have rated the stock with a sell rating, six have assigned a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of Hold and an average price target of $11.97.

Shares of NYSE:PBF opened at $5.41 on Thursday. The business has a 50 day moving average price of $6.92 and a 200 day moving average price of $8.84. PBF Energy has a twelve month low of $5.19 and a twelve month high of $34.91. The company has a market cap of $650.00 million, a price-to-earnings ratio of -1.15 and a beta of 2.58. The company has a quick ratio of 0.87, a current ratio of 1.66 and a debt-to-equity ratio of 1.44.

PBF Energy (NYSE:PBF) last announced its earnings results on Friday, July 31st. The oil and gas company reported ($3.19) earnings per share for the quarter, missing the consensus estimate of ($2.00) by ($1.19). The business had revenue of $2.52 billion for the quarter, compared to the consensus estimate of $2.89 billion. PBF Energy had a negative net margin of 2.70% and a negative return on equity of 11.97%. PBF Energy’s revenue for the quarter was down 61.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.83 EPS. Analysts anticipate that PBF Energy will post -7.78 EPS for the current year.

In other news, CEO Thomas J. Nimbley acquired 50,000 shares of the firm’s stock in a transaction on Monday, September 28th. The shares were purchased at an average cost of $5.92 per share, for a total transaction of $296,000.00. Following the transaction, the chief executive officer now owns 427,857 shares of the company’s stock, valued at $2,532,913.44. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Control Empresarial De Capital acquired 103,500 shares of the firm’s stock in a transaction on Thursday, July 30th. The stock was purchased at an average price of $8.04 per share, for a total transaction of $832,140.00. The disclosure for this purchase can be found here. Over the last 90 days, insiders have purchased 443,500 shares of company stock worth $3,150,890. 4.30% of the stock is owned by corporate insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in PBF. First Trust Advisors LP boosted its position in PBF Energy by 1,421.0% in the 2nd quarter. First Trust Advisors LP now owns 2,579,234 shares of the oil and gas company’s stock valued at $26,411,000 after buying an additional 2,409,664 shares during the last quarter. APG Asset Management N.V. bought a new position in PBF Energy in the 1st quarter valued at $54,046,000. Anchor Capital Advisors LLC boosted its position in PBF Energy by 163.6% in the 2nd quarter. Anchor Capital Advisors LLC now owns 3,137,834 shares of the oil and gas company’s stock valued at $32,131,000 after buying an additional 1,947,347 shares during the last quarter. AQR Capital Management LLC boosted its position in PBF Energy by 3,200.2% in the 1st quarter. AQR Capital Management LLC now owns 1,539,850 shares of the oil and gas company’s stock valued at $10,902,000 after buying an additional 1,493,191 shares during the last quarter. Finally, Invesco Ltd. boosted its position in shares of PBF Energy by 75.1% in the 1st quarter. Invesco Ltd. now owns 2,566,862 shares of the oil and gas company’s stock worth $18,173,000 after purchasing an additional 1,100,693 shares during the last quarter. Hedge funds and other institutional investors own 79.39% of the company’s stock.

About PBF Energy

PBF Energy, Inc engages in the operation of a petroleum refiner and supplier of unbranded transportation fuels, heating oil, petrochemical feedstocks, lubricants, and other petroleum products in the United States. It operates through the Refining and Logistics segments. The Refining segment refines crude oil and other feedstocks into petroleum products.

Further Reading: Analyst Ratings Trading

Analyst Recommendations for PBF Energy (NYSE:PBF)

Receive News & Ratings for PBF Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PBF Energy and related companies with MarketBeat.com's FREE daily email newsletter.