PBF Energy Inc (NYSE:PBF)‘s stock had its “hold” rating reissued by research analysts at Piper Jaffray Companies in a research report issued on Friday. They presently have a $20.00 price objective on the oil and gas company’s stock. Piper Jaffray Companies’ target price points to a potential downside of 10.51% from the company’s previous close.
Several other research firms have also issued reports on PBF. Scotiabank set a $24.00 target price on PBF Energy and gave the company a “buy” rating in a research note on Monday, June 26th. Credit Suisse Group lowered PBF Energy from a “neutral” rating to an “underperform” rating and set a $18.00 target price on the stock. in a research note on Tuesday, June 20th. Zacks Investment Research lowered PBF Energy from a “hold” rating to a “sell” rating in a research note on Wednesday, July 12th. BidaskClub upgraded PBF Energy from a “sell” rating to a “hold” rating in a research note on Tuesday, June 13th. Finally, Goldman Sachs Group, Inc. (The) upgraded PBF Energy from a “sell” rating to a “neutral” rating and lifted their target price for the company from $22.00 to $23.00 in a research note on Wednesday, April 5th. They noted that the move was a valuation call. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $23.39.
Shares of PBF Energy (NYSE:PBF) opened at 22.35 on Friday. The stock has a market capitalization of $2.45 billion, a P/E ratio of 13.38 and a beta of 1.39. PBF Energy has a 52-week low of $18.48 and a 52-week high of $30.98. The stock has a 50 day moving average of $21.39 and a 200-day moving average of $22.95.
PBF Energy (NYSE:PBF) last announced its quarterly earnings results on Thursday, May 4th. The oil and gas company reported ($0.20) EPS for the quarter, beating the consensus estimate of ($0.46) by $0.26. The firm had revenue of $4.75 billion for the quarter, compared to analyst estimates of $4.29 billion. PBF Energy had a negative return on equity of 6.30% and a negative net margin of 0.42%. The business’s revenue for the quarter was up 69.8% on a year-over-year basis. During the same quarter last year, the firm posted ($0.65) earnings per share. Analysts predict that PBF Energy will post $0.75 EPS for the current fiscal year.
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In other PBF Energy news, insider Connor Thomas L. O purchased 10,000 shares of the company’s stock in a transaction dated Friday, May 26th. The shares were acquired at an average price of $20.17 per share, for a total transaction of $201,700.00. Following the completion of the purchase, the insider now owns 105,135 shares of the company’s stock, valued at $2,120,572.95. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Thomas J. Nimbley purchased 50,000 shares of the company’s stock in a transaction dated Tuesday, May 30th. The shares were acquired at an average price of $19.69 per share, for a total transaction of $984,500.00. Following the purchase, the chief executive officer now directly owns 290,000 shares of the company’s stock, valued at approximately $5,710,100. The disclosure for this purchase can be found here. 2.55% of the stock is currently owned by insiders.
Several large investors have recently modified their holdings of PBF. Norges Bank purchased a new stake in PBF Energy during the fourth quarter worth approximately $51,552,000. Sanders Morris Harris Inc. purchased a new stake in PBF Energy during the first quarter worth approximately $2,001,000. Aberdeen Asset Management PLC UK increased its stake in PBF Energy by 17.3% in the first quarter. Aberdeen Asset Management PLC UK now owns 31,063 shares of the oil and gas company’s stock worth $689,000 after buying an additional 4,588 shares during the period. Point72 Asset Management L.P. purchased a new stake in PBF Energy during the first quarter worth approximately $19,439,000. Finally, Vident Investment Advisory LLC purchased a new stake in PBF Energy during the first quarter worth approximately $2,261,000.
PBF Energy Company Profile
PBF Energy Inc (PBF Energy) is a holding company. The Company 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 Company operates through two segments: Refining and Logistics.
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