PBF Energy Inc (PBF) is Downgraded by JP Morgan to Neutral, Lowers Price Target to $ 21

PBF Energy Inc (PBF) was Downgraded by JP Morgan to ” Neutral” while Lowering the Price Target of the company shares to $ 21 from a previous price target of $33 . Earlier the firm had a rating of “Overweight ” on the company shares. JP Morgan advised their investors in a research report released on Jul 11, 2016.

Many Wall Street Analysts have commented on PBF Energy Inc. Shares were Downgraded by JP Morgan on Jul 11, 2016 to ” Neutral” and Lowered the Price Target to $ 21 from a previous price target of $33 .PBF Energy Inc was Downgraded by Goldman to ” Neutral” on Jun 29, 2016.

On the company’s financial health, PBF Energy Inc reported $-0.65 EPS for the quarter, missing the analyst consensus estimate by $ -0.20 based on the information available during the earnings call on Apr 28, 2016. Analyst had a consensus of $-0.45. The company had revenue of $2800.20 million for the quarter, compared to analysts expectations of $2581.79 million. The company’s revenue was down -6.5 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.87 EPS.

PBF Energy Inc opened for trading at $21.77 and hit $21.96 on the upside on Friday, eventually ending the session at $21.91, with a gain of 1.06% or 0.23 points. The heightened volatility saw the trading volume jump to 40,10,145 shares. Company has a market cap of $2,143 M.

In a different news, on Jun 2, 2016, Matthew C. Lucey (President) purchased 10,000 shares at $27.50 per share price. According to the SEC, on Jun 2, 2016, Thomas J. Nimbley (CEO) purchased 50,000 shares at $27.40 per share price.

PBF Energy Inc. (PBF) is a petroleum refiner and supplier of unbranded transportation fuels heating oil petrochemical feedstocks lubricants and other petroleum products. PBF owns and operates three domestic oil refineries and related assets with a combined processing capacity known as throughput of approximately 540000bpd and a weighted average Nelson Complexity Index of 11.3. PBF Energy’s three refineries are located in Toledo Ohio Delaware City Delaware and Paulsboro New Jersey. The Company operates in two business segments: Refining and Logistics. The Company’s three oil refineries are all engaged in the refining of crude oil and other feedstocks into petroleum products and are aggregated into the Refining segment. PBFX operates logistical assets such as crude oil and refined petroleum products terminals pipelines and storage facilities which are aggregated into the Logistics segment.

PBF Energy Inc

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