Credit Suisse Group Cuts PBF Energy (NYSE:PBF) Price Target to $10.75

PBF Energy (NYSE:PBF) had its price target lowered by Credit Suisse Group from $13.50 to $10.75 in a research note released on Thursday, Anlyst Ratings reports. The firm currently has a neutral rating on the oil and gas company’s stock.

PBF has been the topic of a number of other reports. US Capital Advisors lowered PBF Energy from an overweight rating to a hold rating in a research note on Thursday. Barclays lowered their price target on shares of PBF Energy from $7.00 to $5.00 in a report on Thursday, October 8th. JPMorgan Chase & Co. reduced their price objective on shares of PBF Energy from $8.00 to $6.00 and set an underweight rating for the company in a research note on Friday, September 11th. The Goldman Sachs Group upgraded shares of PBF Energy from a sell rating to a neutral rating and lowered their target price for the stock from $5.50 to $5.00 in a research note on Monday, November 2nd. Finally, Royal Bank of Canada restated a hold rating and set a $8.00 price target on shares of PBF Energy in a research report on Thursday, October 15th. Seven research analysts have rated the stock with a sell rating, nine have assigned a hold rating, one has given a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of Hold and a consensus target price of $9.22.

NYSE PBF opened at $7.15 on Thursday. The company has a market cap of $858.92 million, a PE ratio of -1.52 and a beta of 2.68. The company has a quick ratio of 0.87, a current ratio of 1.66 and a debt-to-equity ratio of 1.44. The firm’s 50-day simple moving average is $5.75 and its two-hundred day simple moving average is $8.51. PBF Energy has a 52 week low of $4.06 and a 52 week high of $33.99.

PBF Energy (NYSE:PBF) last released its quarterly earnings data on Thursday, October 29th. The oil and gas company reported ($2.87) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($2.57) by ($0.30). PBF Energy had a negative return on equity of 11.97% and a negative net margin of 2.70%. The business had revenue of $3.67 billion during the quarter, compared to the consensus estimate of $3.24 billion. During the same period last year, the business posted $0.66 earnings per share. The firm’s quarterly revenue was down 43.0% on a year-over-year basis. As a group, equities research analysts anticipate that PBF Energy will post -9.06 EPS for the current year.

In other PBF Energy news, CFO C Erik Young purchased 15,000 shares of the firm’s stock in a transaction on Wednesday, September 30th. The shares were acquired at an average cost of $5.95 per share, with a total value of $89,250.00. Following the completion of the acquisition, the chief financial officer now directly owns 114,675 shares in the company, valued at $682,316.25. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Control Empresarial De Capital purchased 150,000 shares of the firm’s stock in a transaction on Wednesday, September 9th. The shares were acquired at an average cost of $7.26 per share, for a total transaction of $1,089,000.00. The disclosure for this purchase can be found here. In the last 90 days, insiders have acquired 340,000 shares of company stock worth $2,318,750. 4.30% of the stock is owned by company insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Great West Life Assurance Co. Can boosted its stake in PBF Energy by 90.5% in the 3rd quarter. Great West Life Assurance Co. Can now owns 115,385 shares of the oil and gas company’s stock worth $656,000 after purchasing an additional 54,816 shares during the period. Paloma Partners Management Co lifted its holdings in shares of PBF Energy by 170.9% in the third quarter. Paloma Partners Management Co now owns 32,800 shares of the oil and gas company’s stock worth $187,000 after buying an additional 20,693 shares in the last quarter. Polar Asset Management Partners Inc. purchased a new position in PBF Energy during the third quarter valued at $185,000. Voloridge Investment Management LLC grew its stake in PBF Energy by 181.9% during the third quarter. Voloridge Investment Management LLC now owns 2,100,476 shares of the oil and gas company’s stock valued at $11,952,000 after acquiring an additional 1,355,397 shares in the last quarter. Finally, California State Teachers Retirement System increased its holdings in PBF Energy by 4.8% in the 3rd quarter. California State Teachers Retirement System now owns 174,468 shares of the oil and gas company’s stock valued at $993,000 after acquiring an additional 7,960 shares during the last quarter. 79.39% of the stock is currently owned by institutional investors.

About PBF Energy

PBF Energy Inc, together with 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.

Featured Article: How does equity income fit into an investing strategy?

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.