PBF Energy (PBF) Rating Reiterated by Scotiabank

PBF Energy (NYSE:PBF)‘s stock had its “buy” rating reissued by equities research analysts at Scotiabank in a research note issued to investors on Thursday. They currently have a $40.00 target price on the oil and gas company’s stock. Scotiabank’s price objective suggests a potential upside of 14.91% from the stock’s previous close.

Several other research analysts have also issued reports on the company. Zacks Investment Research lowered PBF Energy from a “buy” rating to a “hold” rating in a report on Tuesday. J P Morgan Chase & Co lowered PBF Energy from a “neutral” rating to an “underweight” rating in a report on Tuesday, December 12th. Goldman Sachs Group lowered PBF Energy from a “neutral” rating to a “sell” rating in a report on Tuesday, November 28th. Barclays upgraded PBF Energy from an “underweight” rating to an “overweight” rating and increased their price target for the stock from $28.00 to $39.00 in a report on Tuesday, November 14th. Finally, Royal Bank of Canada reiterated a “hold” rating and issued a $30.00 price target on shares of PBF Energy in a report on Tuesday, November 7th. Four research analysts have rated the stock with a sell rating, eight have issued a hold rating, five have given a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $29.78.

Shares of PBF Energy (NYSE:PBF) traded up $0.73 during trading on Thursday, hitting $34.81. The company had a trading volume of 2,062,857 shares, compared to its average volume of 2,401,992. The company has a market cap of $3,790.00, a price-to-earnings ratio of 69.79, a price-to-earnings-growth ratio of 2.00 and a beta of 1.45. The company has a current ratio of 1.50, a quick ratio of 0.50 and a debt-to-equity ratio of 0.81. PBF Energy has a 52 week low of $18.48 and a 52 week high of $34.90.

PBF Energy (NYSE:PBF) last announced its quarterly earnings results on Thursday, November 2nd. The oil and gas company reported $1.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.22 by $0.22. The business had revenue of $5.48 billion for the quarter, compared to analyst estimates of $4.90 billion. PBF Energy had a return on equity of 2.35% and a net margin of 1.14%. The company’s quarterly revenue was up 21.4% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.16) earnings per share. analysts predict that PBF Energy will post 1.64 earnings per share for the current fiscal year.

Several institutional investors have recently modified their holdings of the company. First Allied Advisory Services Inc. raised its stake in shares of PBF Energy by 1.0% in the second quarter. First Allied Advisory Services Inc. now owns 17,239 shares of the oil and gas company’s stock worth $380,000 after purchasing an additional 177 shares during the last quarter. Utah Retirement Systems raised its stake in shares of PBF Energy by 1.0% in the second quarter. Utah Retirement Systems now owns 20,100 shares of the oil and gas company’s stock worth $447,000 after purchasing an additional 200 shares during the last quarter. M&T Bank Corp raised its stake in shares of PBF Energy by 2.8% in the second quarter. M&T Bank Corp now owns 18,483 shares of the oil and gas company’s stock worth $411,000 after purchasing an additional 496 shares during the last quarter. US Bancorp DE raised its stake in shares of PBF Energy by 6.4% in the second quarter. US Bancorp DE now owns 9,498 shares of the oil and gas company’s stock worth $212,000 after purchasing an additional 570 shares during the last quarter. Finally, TIAA CREF Investment Management LLC raised its stake in shares of PBF Energy by 0.5% in the second quarter. TIAA CREF Investment Management LLC now owns 221,587 shares of the oil and gas company’s stock worth $4,933,000 after purchasing an additional 1,128 shares during the last quarter.

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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.

Analyst Recommendations for PBF Energy (NYSE:PBF)

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