PBF Energy (NYSE:PBF) Shares Gap Down to $14.72


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PBF Energy Inc. (NYSE:PBF) gapped down before the market opened on Thursday . The stock had previously closed at $14.72, but opened at $14.40. PBF Energy shares last traded at $13.83, with a volume of 7,361 shares.

A number of equities analysts recently issued reports on PBF shares. Bank of America lowered PBF Energy from a “neutral” rating to an “underperform” rating in a report on Wednesday, January 6th. Morgan Stanley lifted their price objective on PBF Energy from $9.00 to $17.50 and gave the company an “underweight” rating in a report on Wednesday, March 17th. Mizuho lifted their price objective on PBF Energy from $8.00 to $20.00 and gave the company a “buy” rating in a report on Friday, February 26th. Zacks Investment Research raised PBF Energy from a “sell” rating to a “hold” rating and set a $17.00 price objective on the stock in a report on Friday, March 5th. Finally, Credit Suisse Group initiated coverage on PBF Energy in a report on Thursday, January 7th. They issued an “underperform” rating and a $5.00 price objective on the stock. Nine analysts have rated the stock with a sell rating, seven have given a hold rating and one has given a buy rating to the stock. PBF Energy presently has a consensus rating of “Hold” and an average price target of $10.00.

The company has a debt-to-equity ratio of 1.80, a quick ratio of 0.93 and a current ratio of 1.69. The stock has a market capitalization of $1.72 billion, a price-to-earnings ratio of -1.68 and a beta of 2.95. The company has a 50-day moving average of $15.14 and a 200-day moving average of $9.12.

PBF Energy (NYSE:PBF) last issued its quarterly earnings data on Thursday, February 11th. The oil and gas company reported ($4.53) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($3.41) by ($1.12). PBF Energy had a negative return on equity of 27.99% and a negative net margin of 5.86%. The company had revenue of $3.66 billion for the quarter, compared to analyst estimates of $3.52 billion. As a group, analysts expect that PBF Energy Inc. will post -10.09 earnings per share for the current year.

In other news, insider John C. Barone sold 1,986 shares of the business’s stock in a transaction on Wednesday, March 3rd. The shares were sold at an average price of $16.56, for a total transaction of $32,888.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 4.30% of the stock is owned by insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in PBF. Voloridge Investment Management LLC grew its stake in shares of PBF Energy by 181.9% during the 3rd 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 buying an additional 1,355,397 shares during the period. Norges Bank purchased a new stake in PBF Energy during the 4th quarter worth $9,424,000. SummerHaven Investment Management LLC purchased a new stake in PBF Energy during the 4th quarter worth $338,000. Morgan Stanley boosted its position in PBF Energy by 28.7% during the 4th quarter. Morgan Stanley now owns 1,352,440 shares of the oil and gas company’s stock worth $9,603,000 after purchasing an additional 301,843 shares during the period. Finally, Jefferies Group LLC purchased a new stake in PBF Energy during the 4th quarter worth $2,023,000. 75.09% of the stock is owned by institutional investors.

PBF Energy Company Profile (NYSE:PBF)

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.

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