Goldman Sachs Downgrades PBF Energy Inc to Neutral with Price Target $26.00

Brokerage firm Goldman Sachs Downgrades its rating on PBF Energy Inc(NYSE:PBF). In a research note issued to the investors, the brokerage major Lowers the price-target to $26.00 per share. The shares have been rated Neutral. Previously, the analysts had a Buy rating on the shares. The rating by Goldman Sachs was issued on Jun 29, 2016.

In a different note, On Jun 10, 2016, JP Morgan said it Maintains its rating on PBF Energy Inc. In the research note, the firm Lowers the price-target to $35.00 per share. The shares have been rated ‘Overweight’ by the firm. On Apr 25, 2016, Credit Suisse said it Maintains its rating on PBF Energy Inc. In the research note, the firm Lowers the price-target to $39.00 per share. The shares have been rated ‘Outperform’ by the firm. On Apr 8, 2016, Barclays said it Maintains its rating on PBF Energy Inc. In the research note, the firm Lowers the price-target to $36.00 per share. The shares have been rated ‘Equalweight’ by the firm. JP Morgan said it Initiates Coverage on PBF Energy Inc, according to a research note issued on Apr 8, 2016. The shares have been rated ‘Overweight’ by the firm.

PBF Energy Inc (PBF) made into the market gainers list on Fridays trading session with the shares advancing 1.18% or 0.28 points. Due to strong positive momentum, the stock ended at $24.06, which is also near the day’s high of $24.47. The stock began the session at $23.75 and the volume stood at 19,35,813 shares. The 52-week high of the shares is $41.75 and the 52 week low is $21.87. The company has a current market capitalization of $2,353 M and it has 9,78,17,783 shares in outstanding.

PBF Energy Inc(PBF) last announced its earnings results on Apr 28, 2016 for Fiscal Year 2016 and Q1.Company reported revenue of $2.80B. Analysts had an estimated revenue of $2.46B. Earnings per share were $-0.65. Analysts had estimated an EPS of $-0.22.

Several Insider Transactions has been reported to the SEC. On Jun 2, 2016, Matthew C. Lucey (President) purchased 10,000 shares at $27.50 per share price.Also, 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.

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