Tudor, Pickering, Holt & Co. Downgrades PBF Energy (NYSE:PBF) to Sell

PBF Energy (NYSE:PBF - Get Free Report) was downgraded by stock analysts at Tudor, Pickering, Holt & Co. from a "hold" rating to a "sell" rating in a research report issued to clients and investors on Monday, Briefing.com reports.

• Leading Oil Refiner's Stock Climbs Despite Market Volatility

Other research analysts also recently issued research reports about the company. Piper Sandler reduced their price target on PBF Energy from $54.00 to $47.00 and set a "neutral" rating for the company in a report on Friday, June 14th. The Goldman Sachs Group reduced their target price on PBF Energy from $57.00 to $50.00 and set a "neutral" rating on the stock in a report on Monday, July 1st. UBS Group reduced their target price on PBF Energy from $57.00 to $44.00 and set a "neutral" rating on the stock in a report on Tuesday, August 13th. Mizuho reduced their target price on PBF Energy from $58.00 to $54.00 and set a "neutral" rating on the stock in a report on Thursday, June 20th. Finally, Wolfe Research began coverage on PBF Energy in a report on Thursday, July 18th. They set a "peer perform" rating on the stock. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and four have issued a buy rating to the stock. According to MarketBeat, PBF Energy has a consensus rating of "Hold" and an average target price of $52.30.

Read Our Latest Stock Analysis on PBF

PBF Energy Stock Down 0.2 %

• Valero Has The Value Proposition Energy Investors Need

PBF traded down $0.05 on Monday, reaching $32.28. The company's stock had a trading volume of 159,994 shares, compared to its average volume of 2,093,910. The stock has a market cap of $3.78 billion, a price-to-earnings ratio of 2.23 and a beta of 1.57. PBF Energy has a 1 year low of $31.78 and a 1 year high of $62.88. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.42 and a quick ratio of 0.75. The business's 50 day moving average is $37.87 and its 200 day moving average is $46.62.

PBF Energy (NYSE:PBF - Get Free Report) last issued its quarterly earnings results on Thursday, August 1st. The oil and gas company reported ($0.54) EPS for the quarter, missing analysts' consensus estimates of ($0.15) by ($0.39). The business had revenue of $8.74 billion during the quarter, compared to analysts' expectations of $8.64 billion. PBF Energy had a net margin of 2.09% and a return on equity of 12.81%. The company's revenue for the quarter was down 4.6% on a year-over-year basis. During the same period in the prior year, the company posted $2.29 EPS. As a group, research analysts forecast that PBF Energy will post 1.61 EPS for the current fiscal year.

Insider Buying and Selling

• 2 Oil Refiners Posting Record Margins: Can the Trend Continue?

In other PBF Energy news, insider Control Empresarial De Capital bought 600,000 shares of the stock in a transaction that occurred on Friday, June 14th. The shares were purchased at an average cost of $44.13 per share, for a total transaction of $26,478,000.00. Following the transaction, the insider now directly owns 16,004,098 shares in the company, valued at $706,260,844.74. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last 90 days, insiders have purchased 2,615,600 shares of company stock valued at $108,198,252. Insiders own 5.30% of the company's stock.

Hedge Funds Weigh In On PBF Energy

Several hedge funds have recently modified their holdings of PBF. Private Advisor Group LLC acquired a new position in shares of PBF Energy during the 4th quarter valued at $283,000. BNP Paribas Financial Markets boosted its stake in shares of PBF Energy by 162.1% during the 4th quarter. BNP Paribas Financial Markets now owns 135,835 shares of the oil and gas company's stock worth $5,971,000 after acquiring an additional 84,003 shares in the last quarter. Jump Financial LLC boosted its stake in shares of PBF Energy by 57.0% during the 4th quarter. Jump Financial LLC now owns 25,565 shares of the oil and gas company's stock worth $1,124,000 after acquiring an additional 9,284 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of PBF Energy by 1.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 7,381,349 shares of the oil and gas company's stock worth $324,487,000 after acquiring an additional 120,414 shares in the last quarter. Finally, Principal Financial Group Inc. boosted its stake in shares of PBF Energy by 2.1% during the 4th quarter. Principal Financial Group Inc. now owns 469,134 shares of the oil and gas company's stock worth $20,623,000 after acquiring an additional 9,427 shares in the last quarter. 96.29% of the stock is currently owned by institutional investors and hedge funds.

About PBF Energy

PBF Energy Inc, through 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 from crude oil.

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