PBF Energy Inc (PBF) is Downgraded by Credit Suisse to Neutral

PBF Energy Inc (PBF) was Downgraded by Credit Suisse to ” Neutral”. Earlier the firm had a rating of “Outperform ” on the company shares. Credit Suisse advised their investors in a research report released on Oct 11, 2016.

Many Wall Street Analysts have commented on PBF Energy Inc. Shares were Downgraded by Barclays on Oct 10, 2016 to ” Underweight” and Lowered the Price Target to $ 19 from a previous price target of $26 .PBF Energy Inc was Downgraded by Tudor Pickering to ” Hold” on Aug 8, 2016.

On the company’s financial health, PBF Energy Inc reported $0.14 EPS for the quarter, missing the analyst consensus estimate by $ -0.13 based on the information available during the earnings call on Jul 29, 2016. Analyst had a consensus of $0.27. The company had revenue of $3858.46 million for the quarter, compared to analysts expectations of $3306.11 million. The company’s revenue was up 8.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.88 EPS.

PBF Energy Inc closed down -0.48 points or -2.16% at $21.71 with 38,95,533 shares getting traded on Friday. Post opening the session at $22.09, the shares hit an intraday low of $21.105 and an intraday high of $22.15 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

In a different news, on Sep 12, 2016, Thomas J. Nimbley (CEO) purchased 50,000 shares at $21.84 per share price. According to the SEC, on Sep 9, 2016, Connor Thomas L O (Senior Vice President) purchased 10,000 shares at $21.73 per share price. On Jun 2, 2016, Matthew C. Lucey (President) purchased 10,000 shares at $27.50 per share price, according to the Form-4 filing with the securities and exchange commission.

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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