Price Action To Observe: Can PBF Energy Inc’s Tomorrow be Different? The Stock Just Broke Its All-Time Low

Price Action To Observe: Can PBF Energy Inc's Tomorrow be Different? The Stock Just Broke Its All Time Low

The stock of PBF Energy Inc (NYSE:PBF) reached all time low today, Oct, 12 and still has $18.79 target or 6.00% below today’s $19.99 share price. This indicates more downside for the $1.97 billion company. This technical setup was reported by Barchart.com. If the $18.79 PT is reached, the company will be worth $118.20M less.
Trading stocks at an all time low is not easy. Stock at an all time low usually experience even more downside due to very negative fundament. Even thought the pullback rate is high, shorting is not an easy job because the risk of being wrong is big and the risk-reward ratio is always worse than if trading lon only. About 347,347 shares traded hands. PBF Energy Inc (NYSE:PBF) has declined 35.64% since March 9, 2016 and is downtrending. It has underperformed by 43.06% the S&P500.

Analysts await PBF Energy Inc (NYSE:PBF) to report earnings on November, 3. They expect $0.61 EPS, down 67.03% or $1.24 from last year’s $1.85 per share. PBF’s profit will be $60.12 million for 8.19 P/E if the $0.61 EPS becomes a reality. After $0.14 actual EPS reported by PBF Energy Inc for the previous quarter, Wall Street now forecasts 335.71% EPS growth.

PBF Energy Inc (NYSE:PBF) Ratings Coverage

Out of 9 analysts covering PBF Energy Inc (NYSE:PBF), 3 rate it a “Buy”, 2 “Sell”, while 4 “Hold”. This means 33% are positive. PBF Energy Inc has been the topic of 25 analyst reports since July 24, 2015 according to StockzIntelligence Inc. JP Morgan downgraded the stock to “Neutral” rating in Monday, July 11 report. Goldman Sachs upgraded PBF Energy Inc (NYSE:PBF) rating on Monday, November 23. Goldman Sachs has “Buy” rating and $48 price target. As per Monday, April 25, the company rating was maintained by Credit Suisse. The stock of PBF Energy Inc (NYSE:PBF) has “Equal-Weight” rating given on Monday, October 12 by Barclays Capital. Citigroup maintained it with “Buy” rating and $48 target price in Wednesday, October 21 report. The firm has “Underweight” rating by Barclays Capital given on Monday, October 10. Morgan Stanley upgraded the stock to “Overweight” rating in Monday, January 18 report. The firm has “Sell” rating by Goldman Sachs given on Friday, September 9. As per Friday, September 25, the company rating was initiated by Goldman Sachs. The stock of PBF Energy Inc (NYSE:PBF) earned “Neutral” rating by Credit Suisse on Tuesday, October 11.

According to Zacks Investment Research, “PBF Energy Inc. operates as a petroleum refiner and supplier. The Company offers unbranded transportation fuels, heating oil, petrochemical feedstocks, lubricants and other petroleum products in the United States. Its refineries are located in Toledo, Ohio, Delaware City, Delaware and Paulsboro, New Jersey. The company sells its products in the northeast and Midwest United States, as well as in other regions of the United States and Canada. PBF Energy Inc. is based in Parsippany, New Jersey.”

Insitutional Activity: The institutional sentiment increased to 1.12 in Q2 2016. Its up 0.18, from 0.94 in 2016Q1. The ratio improved, as 43 funds sold all PBF Energy Inc shares owned while 69 reduced positions. 34 funds bought stakes while 91 increased positions. They now own 96.84 million shares or 4.39% more from 92.77 million shares in 2016Q1.
Aqr Cap Ltd Limited Liability Company holds 0.06% or 1.32M shares in its portfolio. Adams Natural Fund has invested 0.67% of its portfolio in PBF Energy Inc (NYSE:PBF). Baupost Group Limited Liability Corp Ma last reported 3.43% of its portfolio in the stock. Grantham Mayo Van Otterloo Ltd Liability, a Massachusetts-based fund reported 37,600 shares. The Switzerland-based Credit Suisse Ag has invested 0% in PBF Energy Inc (NYSE:PBF). Thompson Siegel And Walmsley Lc last reported 0.14% of its portfolio in the stock. Stifel Fin holds 0% or 17,608 shares in its portfolio. Spot Trading, a Illinois-based fund reported 45,589 shares. Affinity Inv accumulated 0.28% or 157,839 shares. Blackrock Advsrs Ltd Com has 165,271 shares for 0% of their US portfolio. Geode Cap Management Ltd holds 636,241 shares or 0.01% of its portfolio. Trexquant Lp last reported 23,300 shares in the company. Rhumbline Advisers reported 76,321 shares or 0.01% of all its holdings. Clinton Gru accumulated 0.11% or 105,251 shares. Bluecrest Cap Management Limited has 0.05% invested in the company for 51,591 shares.

Another recent and important PBF Energy Inc (NYSE:PBF) news was published by Prnewswire.com which published an article titled: “PBF Energy to Release Third Quarter 2016 Earnings Results” on September 21, 2016.

PBF Company Profile

PBF Energy Inc. (PBF Energy), incorporated on November 7, 2011, is a holding company. The Firm 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 Firm operates through two divisions: Refining and Logistics. It sells its products throughout the Northeast, Midwest and Gulf Coast of the United States, as well as in other regions of the United States and Canada, and ships products to other international destinations. The Company’s refineries have a combined processing capacity, known as throughput, of approximately 730,000 barrels per day (bpd) and a weighted-average Nelson Complexity Index of approximately 11.7.

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