7. AFFORDABLE AND CLEAN ENERGY

PBF Energy (NYSE:PBF) Shares Gap Down to $35.66 – Defense World

Written by Amanda

Shares of PBF Energy Inc. (NYSE:PBFGet Rating) gapped down before the market opened on Wednesday . The stock had previously closed at $35.66, but opened at $33.18. PBF Energy shares last traded at $34.72, with a volume of 11,065 shares traded.

Several research firms recently weighed in on PBF. Credit Suisse Group upped their price target on PBF Energy to $37.00 in a research note on Thursday, June 9th. StockNews.com upgraded PBF Energy from a “hold” rating to a “buy” rating in a research note on Thursday, June 16th. Bank of America upgraded PBF Energy from a “neutral” rating to a “buy” rating and upped their price target for the stock from $15.00 to $25.00 in a research note on Tuesday, March 8th. The Goldman Sachs Group upped their price target on PBF Energy from $23.00 to $26.00 and gave the stock a “neutral” rating in a research note on Friday, April 22nd. Finally, Wells Fargo & Company upgraded PBF Energy from an “equal weight” rating to an “overweight” rating and set a $57.00 price target on the stock in a research note on Tuesday, June 14th. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $28.17.

The stock has a fifty day moving average of $32.33 and a 200 day moving average of $23.19. The company has a market capitalization of $3.72 billion, a P/E ratio of 14.96 and a beta of 2.24. The company has a debt-to-equity ratio of 1.71, a quick ratio of 0.69 and a current ratio of 1.25.

PBF Energy (NYSE:PBFGet Rating) last issued its quarterly earnings results on Thursday, April 28th. The oil and gas company reported $0.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.26 by $0.09. PBF Energy had a return on equity of 2.56% and a net margin of 0.80%. The business had revenue of $9.14 billion during the quarter, compared to analyst estimates of $8.24 billion. During the same quarter in the prior year, the business posted ($2.61) EPS. PBF Energy’s revenue for the quarter was up 85.6% compared to the same quarter last year. Research analysts anticipate that PBF Energy Inc. will post 6.79 EPS for the current fiscal year.

In related news, CFO C Erik Young sold 60,296 shares of the stock in a transaction dated Wednesday, May 18th. The shares were sold at an average price of $30.30, for a total value of $1,826,968.80. Following the completion of the transaction, the chief financial officer now owns 66,893 shares of the company’s stock, valued at approximately $2,026,857.90. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Control Empresarial De Capital sold 1,245,183 shares of the stock in a transaction dated Thursday, June 2nd. The shares were sold at an average price of $35.16, for a total transaction of $43,780,634.28. Following the completion of the transaction, the insider now directly owns 12,284,000 shares of the company’s stock, valued at approximately $431,905,440. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 4,683,987 shares of company stock valued at $147,334,916. Company insiders own 5.60% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in PBF. Franklin Resources Inc. bought a new stake in PBF Energy in the third quarter worth about $132,000. Invesco Ltd. lifted its stake in PBF Energy by 2.0% in the third quarter. Invesco Ltd. now owns 1,961,732 shares of the oil and gas company’s stock worth $25,444,000 after purchasing an additional 38,620 shares during the last quarter. Morgan Stanley lifted its stake in PBF Energy by 24.4% in the third quarter. Morgan Stanley now owns 1,721,739 shares of the oil and gas company’s stock worth $22,332,000 after purchasing an additional 337,357 shares during the last quarter. Tudor Investment Corp Et Al lifted its stake in PBF Energy by 52.8% in the third quarter. Tudor Investment Corp Et Al now owns 41,260 shares of the oil and gas company’s stock worth $535,000 after purchasing an additional 14,257 shares during the last quarter. Finally, Thrivent Financial for Lutherans raised its stake in shares of PBF Energy by 57.8% during the third quarter. Thrivent Financial for Lutherans now owns 267,625 shares of the oil and gas company’s stock valued at $3,471,000 after acquiring an additional 98,027 shares in the last quarter. 69.95% of the stock is owned by institutional investors and hedge funds.

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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Source: defenseworld.net

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Amanda

Hi there, I am Amanda and I work as an editor at impactinvesting.ai;  if you are interested in my services, please reach me at amanda.impactinvesting.ai