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PBF Energy (NYSE:PBF) Trading Up 6.2%

Defense World ·  09/29/2022 17:12

Shares of PBF Energy Inc. (NYSE:PBF – Get Rating) were up 6.2% on Tuesday . The company traded as high as $31.80 and last traded at $31.69. Approximately 12,406 shares changed hands during trading, a decline of 100% from the average daily volume of 2,729,681 shares. The stock had previously closed at $29.85.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on PBF shares. Cowen raised their price objective on PBF Energy from $25.00 to $32.00 in a research report on Monday, August 1st. raised PBF Energy from a "buy" rating to a "strong-buy" rating in a report on Sunday, September 18th. Wells Fargo & Company raised their price target on PBF Energy from $48.00 to $49.00 and gave the stock an "overweight" rating in a report on Wednesday, September 21st. Wolfe Research raised PBF Energy from an "underperform" rating to an "outperform" rating and raised their price target for the stock from $36.00 to $49.00 in a report on Wednesday, September 14th. Finally, TheStreet raised PBF Energy from a "c" rating to a "b-" rating in a report on Friday, July 29th. Two equities research analysts have rated the stock with a sell rating, five have assigned 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, the company currently has a consensus rating of "Hold" and an average target price of $34.46.

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PBF Energy Stock Up 9.6 %

The company has a debt-to-equity ratio of 0.55, a current ratio of 1.08 and a quick ratio of 0.64. The firm has a 50-day simple moving average of $32.52 and a two-hundred day simple moving average of $30.46. The company has a market cap of $4.32 billion, a PE ratio of 3.13 and a beta of 2.15.

PBF Energy (NYSE:PBF – Get Rating) last posted its quarterly earnings data on Thursday, July 28th. The oil and gas company reported $10.58 earnings per share (EPS) for the quarter, topping the consensus estimate 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 analysts' expectations of $10.67 billion. During the same quarter last year, the firm earned ($1.26) earnings per share. The business's revenue was up 104.1% on a year-over-year basis. Research analysts anticipate that PBF Energy Inc. will post 20.69 earnings per share for the current fiscal year.

Insider Transactions at PBF Energy

In related 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 sale, the senior vice president now directly owns 80,000 shares of the company's stock, valued at $3,003,200. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 5.60% of the company's stock.

Institutional Investors Weigh In On PBF Energy

A number of institutional investors have recently added to or reduced their stakes in the company. Nelson Van Denburg & Campbell Wealth Management Group LLC acquired a new stake in PBF Energy during the 1st quarter valued at $48,000. Meeder Asset Management Inc. boosted its holdings in PBF Energy by 354.0% in the first quarter. Meeder Asset Management Inc. now owns 2,792 shares of the oil and gas company's stock worth $68,000 after purchasing an additional 2,177 shares in the last quarter. Point72 Hong Kong Ltd bought a new stake in PBF Energy in the first quarter worth $76,000. Quadrant Capital Group LLC boosted its holdings in PBF Energy by 17.6% during the second quarter. Quadrant Capital Group LLC now owns 2,900 shares of the oil and gas company's stock valued at $84,000 after acquiring an additional 433 shares during the period. Finally, Ellevest Inc. lifted its stake in shares of PBF Energy by 724.0% in the second quarter. Ellevest Inc. now owns 3,436 shares of the oil and gas company's stock valued at $100,000 after buying an additional 3,019 shares during the period. 87.50% of the stock is currently owned by institutional investors and hedge funds.

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.

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