Cowen Downgrades PBF Energy (PBF) to Market Perform

PBF Energy (NYSE:PBF) was downgraded by Cowen from an “outperform” rating to a “market perform” rating in a research report issued on Friday, Marketbeat.com reports. They presently have a $31.00 target price on the oil and gas company’s stock, up from their previous target price of $30.00. Cowen’s price objective indicates a potential upside of 1.08% from the stock’s current price.

Several other analysts have also recently commented on the stock. Barclays reissued a “buy” rating and set a $44.00 price target on shares of PBF Energy in a research note on Friday. Zacks Investment Research raised shares of PBF Energy from a “hold” rating to a “buy” rating and set a $34.00 price target on the stock in a research note on Saturday, November 4th. Scotiabank reissued a “buy” rating and set a $41.00 price target on shares of PBF Energy in a research note on Wednesday, January 10th. Royal Bank of Canada reissued a “hold” rating and set a $30.00 price target on shares of PBF Energy in a research note on Tuesday, November 7th. Finally, Morgan Stanley cut shares of PBF Energy from an “equal weight” rating to an “underweight” rating and set a $37.00 price target on the stock. in a research note on Thursday, January 11th. Five equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $32.90.

Shares of PBF Energy (NYSE PBF) opened at $30.67 on Friday. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.50 and a current ratio of 1.50. The firm has a market cap of $3,374.80, a PE ratio of 26.90, a price-to-earnings-growth ratio of 0.89 and a beta of 1.21. PBF Energy has a 52 week low of $18.48 and a 52 week high of $37.01.

PBF Energy (NYSE:PBF) last issued its quarterly earnings data on Thursday, February 15th. The oil and gas company reported ($0.04) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.21 by ($0.25). The firm had revenue of $6.54 billion for the quarter, compared to the consensus estimate of $5.23 billion. PBF Energy had a return on equity of 5.16% and a net margin of 1.91%. PBF Energy’s quarterly revenue was up 37.6% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.71) earnings per share. sell-side analysts predict that PBF Energy will post 3.37 EPS for the current fiscal year.

A number of hedge funds and other institutional investors have recently made changes to their positions in PBF. Alliancebernstein L.P. lifted its holdings in PBF Energy by 4.6% in the second quarter. Alliancebernstein L.P. now owns 63,564 shares of the oil and gas company’s stock valued at $1,415,000 after buying an additional 2,771 shares during the period. Northern Trust Corp lifted its holdings in PBF Energy by 63.2% in the second quarter. Northern Trust Corp now owns 998,936 shares of the oil and gas company’s stock valued at $22,237,000 after buying an additional 386,930 shares during the period. California Public Employees Retirement System lifted its holdings in PBF Energy by 3.4% in the second quarter. California Public Employees Retirement System now owns 219,400 shares of the oil and gas company’s stock valued at $4,884,000 after buying an additional 7,300 shares during the period. Stifel Financial Corp lifted its holdings in PBF Energy by 26.9% in the second quarter. Stifel Financial Corp now owns 12,587 shares of the oil and gas company’s stock valued at $280,000 after buying an additional 2,668 shares during the period. Finally, State Street Corp lifted its holdings in PBF Energy by 48.0% in the second quarter. State Street Corp now owns 4,969,947 shares of the oil and gas company’s stock valued at $110,639,000 after buying an additional 1,611,707 shares during the period.

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About PBF Energy

PBF Energy Inc (PBF Energy) is a holding company. The Company is an independent petroleum refiner and supplier of unbranded transportation fuels, heating oil, petrochemical feedstocks, lubricants and other petroleum products in the United States. The Company operates through two segments: Refining and Logistics.

Analyst Recommendations for PBF Energy (NYSE:PBF)

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