PBF Energy Inc (NYSE:PBF) shares are trading lower on Wednesday after Goldman Sachs downgraded the company's stock from Neutral to Sell and lowered its price target from $12 to $10.
PBF Energy Inc is an independent petroleum refiner and supplier of unbranded transportation fuels, heating oil, petrochemical feedstocks, lubricants, and other petroleum products in the U.S.
The company owns refineries in Ohio, Delaware, New Jersey, and Louisiana. Each of the company's refining facilities specializes in the processing of either light, medium, or heavy crude oil.
PBF Energy shares down 11.93% at $10.63 at the time of publication Wednesday. The stock has a 52-week range between $34.91 and $5.19.