abrdn plc Cuts Holdings in PBF Energy Inc. (NYSE:PBF)

abrdn plc reduced its position in PBF Energy Inc. (NYSE:PBF) by 11.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 108,103 shares of the oil and gas company’s stock after selling 14,655 shares during the quarter. abrdn plc owned about 0.09% of PBF Energy worth $1,654,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of PBF. Patriot Financial Group Insurance Agency LLC purchased a new position in shares of PBF Energy in the 2nd quarter worth $33,000. regents capital Ltd purchased a new position in shares of PBF Energy in the 1st quarter worth $34,000. Captrust Financial Advisors raised its position in shares of PBF Energy by 86.5% in the 1st quarter. Captrust Financial Advisors now owns 3,833 shares of the oil and gas company’s stock worth $54,000 after buying an additional 1,778 shares during the period. US Bancorp DE raised its position in PBF Energy by 79.8% in the second quarter. US Bancorp DE now owns 5,062 shares of the oil and gas company’s stock valued at $78,000 after purchasing an additional 2,247 shares during the period. Finally, PNC Financial Services Group Inc. raised its position in PBF Energy by 57.1% in the second quarter. PNC Financial Services Group Inc. now owns 6,126 shares of the oil and gas company’s stock valued at $93,000 after purchasing an additional 2,227 shares during the period. 68.47% of the stock is currently owned by institutional investors and hedge funds.

Several research analysts have commented on PBF shares. Wells Fargo & Company lowered PBF Energy from an “equal weight” rating to an “underweight” rating and cut their price objective for the company from $10.50 to $8.00 in a research report on Thursday, August 12th. Morgan Stanley started coverage on PBF Energy in a research report on Tuesday, September 7th. They issued an “equal weight” rating and a $12.00 price objective on the stock. Wolfe Research lowered PBF Energy from a “peer perform” rating to an “underperform” rating and set a $10.00 price objective on the stock. in a research report on Wednesday, July 14th. Barclays cut their price objective on PBF Energy from $13.00 to $12.00 and set an “underweight” rating on the stock in a research report on Tuesday, July 13th. Finally, Piper Sandler cut their price objective on PBF Energy from $16.00 to $13.00 and set a “neutral” rating on the stock in a research report on Friday, July 23rd. They noted that the move was a valuation call. Six investment analysts have rated the stock with a sell rating, seven have given a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $10.82.

Shares of NYSE PBF opened at $12.25 on Friday. PBF Energy Inc. has a 1 year low of $4.06 and a 1 year high of $18.78. The firm has a market cap of $1.47 billion, a price-to-earnings ratio of -2.07 and a beta of 2.98. The company has a debt-to-equity ratio of 2.09, a quick ratio of 0.70 and a current ratio of 1.40. The stock’s 50-day simple moving average is $9.62 and its 200-day simple moving average is $13.20.

PBF Energy (NYSE:PBF) last posted its quarterly earnings results on Thursday, July 29th. The oil and gas company reported ($1.26) EPS for the quarter, missing the Zacks’ consensus estimate of ($1.03) by ($0.23). The firm had revenue of $6.90 billion during the quarter, compared to analyst estimates of $6 billion. PBF Energy had a negative return on equity of 59.77% and a negative net margin of 3.70%. As a group, research analysts predict that PBF Energy Inc. will post -5.15 EPS for the current year.

PBF Energy Profile

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

See Also: Moving Average (MA)

Institutional Ownership by Quarter for PBF Energy (NYSE:PBF)

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