PBF Energy (PBF) Downgraded by Morgan Stanley to Underweight

Morgan Stanley cut shares of PBF Energy (NYSE:PBF) from an equal weight rating to an underweight rating in a report released on Thursday. The firm currently has $37.00 target price on the oil and gas company’s stock.

A number of other research firms have also recently commented on PBF. Zacks Investment Research upgraded 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 restated 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 restated a hold rating and set a $30.00 price target on shares of PBF Energy in a research note on Tuesday, November 7th. Barclays upgraded PBF Energy from an underweight rating to an overweight rating and upped their price target for the stock from $28.00 to $39.00 in a research note on Tuesday, November 14th. Finally, Goldman Sachs Group cut PBF Energy from a neutral rating to a sell rating in a research note on Tuesday, November 28th. Five analysts have rated the stock with a sell rating, seven have issued a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. The company currently has an average rating of Hold and an average price target of $31.00.

PBF Energy (PBF) traded up $0.21 on Thursday, reaching $35.12. The company had a trading volume of 1,716,300 shares, compared to its average volume of 2,137,767. The company has a quick ratio of 0.50, a current ratio of 1.50 and a debt-to-equity ratio of 0.81. PBF Energy has a 12-month low of $18.48 and a 12-month high of $37.01. The firm has a market capitalization of $3,864.46, a PE ratio of 16.80, a PEG ratio of 1.15 and a beta of 1.45.

PBF Energy (NYSE:PBF) last released its quarterly earnings results on Thursday, November 2nd. The oil and gas company reported $1.44 EPS for the quarter, topping analysts’ consensus estimates of $1.22 by $0.22. PBF Energy had a return on equity of 2.35% and a net margin of 1.14%. The company had revenue of $5.48 billion for the quarter, compared to analysts’ expectations of $4.90 billion. During the same period in the prior year, the firm earned ($0.16) earnings per share. The firm’s revenue was up 21.4% compared to the same quarter last year. equities analysts predict that PBF Energy will post 1.61 earnings per share for the current year.

Several institutional investors have recently bought and sold shares of the company. Dimensional Fund Advisors LP increased its position in shares of PBF Energy by 7.4% during the second quarter. Dimensional Fund Advisors LP now owns 9,230,934 shares of the oil and gas company’s stock worth $205,480,000 after acquiring an additional 635,728 shares during the period. BlackRock Inc. increased its position in shares of PBF Energy by 94.0% during the second quarter. BlackRock Inc. now owns 9,111,987 shares of the oil and gas company’s stock worth $202,832,000 after acquiring an additional 4,415,117 shares during the period. State Street Corp increased its position in shares of PBF Energy by 48.0% during the second quarter. State Street Corp now owns 4,969,947 shares of the oil and gas company’s stock worth $110,639,000 after acquiring an additional 1,611,707 shares during the period. Bank of New York Mellon Corp increased its position in shares of PBF Energy by 2.6% during the third quarter. Bank of New York Mellon Corp now owns 2,018,212 shares of the oil and gas company’s stock worth $55,722,000 after acquiring an additional 50,806 shares during the period. Finally, Wells Fargo & Company MN increased its position in shares of PBF Energy by 0.7% during the second quarter. Wells Fargo & Company MN now owns 1,655,359 shares of the oil and gas company’s stock worth $36,849,000 after acquiring an additional 12,073 shares during the period.

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PBF Energy Company Profile

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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