PBF Energy (NYSE:PBF – Get Rating) had its price objective raised by Piper Sandler from $45.00 to $49.00 in a research note released on Friday morning, The Fly reports. Piper Sandler currently has an overweight rating on the oil and gas company's stock.
Other research analysts also recently issued reports about the company. Cowen boosted their target price on PBF Energy to $32.00 in a research note on Tuesday, August 9th. Morgan Stanley boosted their target price on PBF Energy from $34.00 to $36.00 and gave the stock an equal weight rating in a research note on Friday, July 15th. TheStreet upgraded PBF Energy from a c rating to a b- rating in a research note on Friday, July 29th. StockNews.com upgraded PBF Energy from a buy rating to a strong-buy rating in a research note on Sunday, September 18th. Finally, JPMorgan Chase & Co. upgraded PBF Energy from a neutral rating to an overweight rating and set a $43.00 target price on the stock in a research note on Wednesday, September 21st. Two research analysts have rated the stock with a sell rating, five have given a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of Hold and an average target price of $34.46.
Get PBF Energy alerts:PBF Energy Trading Down 0.1 %
Shares of NYSE:PBF opened at $29.85 on Friday. PBF Energy has a 12-month low of $10.58 and a 12-month high of $44.12. The business's fifty day simple moving average is $32.31 and its 200-day simple moving average is $30.41. The company has a market capitalization of $3.64 billion, a PE ratio of 2.64 and a beta of 2.15. The company has a current ratio of 1.08, a quick ratio of 0.64 and a debt-to-equity ratio of 0.55.
PBF Energy (NYSE:PBF – Get Rating) last announced its quarterly earnings results on Thursday, July 28th. The oil and gas company reported $10.58 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $7.36 by $3.22. PBF Energy had a return on equity of 55.28% and a net margin of 3.64%. The business had revenue of $14.08 billion for the quarter, compared to the consensus estimate of $10.67 billion. During the same period last year, the business posted ($1.26) EPS. The business's revenue was up 104.1% compared to the same quarter last year. As a group, equities research analysts predict that PBF Energy will post 20.51 earnings per share for the current fiscal year.Insider Activity
In other news, SVP Connor Thomas L. O sold 100,000 shares of the business's stock in a transaction dated Tuesday, August 23rd. The stock was sold at an average price of $37.54, for a total value of $3,754,000.00. Following the completion of the transaction, the senior vice president now owns 80,000 shares of the company's stock, valued at approximately $3,003,200. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 5.60% of the company's stock.
Hedge Funds Weigh In On PBF Energy
Several institutional investors and hedge funds have recently modified their holdings of PBF. Renaissance Technologies LLC purchased a new stake in PBF Energy during the 4th quarter worth approximately $3,207,000. Swiss National Bank increased its stake in PBF Energy by 7.4% during the 1st quarter. Swiss National Bank now owns 227,500 shares of the oil and gas company's stock worth $5,544,000 after buying an additional 15,700 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its stake in PBF Energy by 10.6% during the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 325,992 shares of the oil and gas company's stock worth $7,944,000 after buying an additional 31,345 shares in the last quarter. Blueshift Asset Management LLC purchased a new stake in PBF Energy during the 1st quarter worth approximately $617,000. Finally, Seven Eight Capital LP increased its stake in PBF Energy by 94.0% during the 4th quarter. Seven Eight Capital LP now owns 26,752 shares of the oil and gas company's stock worth $347,000 after buying an additional 12,961 shares in the last quarter. Hedge funds and other institutional investors own 87.50% of the company's stock.
PBF Energy Company Profile
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PBF Energy Inc, together with its subsidiaries, engages in refining and supplying petroleum products. The company operates in two segments, Refining and Logistics. It produces gasoline, ultra-low-sulfur diesel, heating oil, diesel fuel, jet fuel, lubricants, petrochemicals, and asphalt, as well as unbranded transportation fuels, petrochemical feedstocks, blending components, and other petroleum products.
Further Reading
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