Goldman Sachs Group Inc upgraded shares of PBF Energy Inc (NYSE:PBF) from a sell rating to a neutral rating in a research note published on Wednesday. They currently have $23.00 price objective on the oil and gas company’s stock, up from their previous price objective of $22.00. The analysts noted that the move was a valuation call.
A number of other research analysts have also recently weighed in on the company. Scotiabank restated a buy rating and issued a $24.00 price target on shares of PBF Energy in a research report on Monday, March 27th. Zacks Investment Research upgraded PBF Energy from a strong sell rating to a hold rating in a research report on Wednesday, March 22nd. Royal Bank of Canada restated a hold rating and issued a $24.00 price target on shares of PBF Energy in a research report on Monday, March 20th. Morgan Stanley cut PBF Energy from an overweight rating to an equal weight rating in a research report on Monday, February 27th. Finally, Tudor Pickering cut PBF Energy from a buy rating to a hold rating in a research report on Thursday, January 5th. Nine analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of Hold and an average price target of $22.67.
PBF Energy (NYSE:PBF) traded up 5.00% during midday trading on Wednesday, reaching $21.64. 941,078 shares of the company traded hands. The stock has a market capitalization of $2.36 billion, a P/E ratio of 12.47 and a beta of 1.39. The company has a 50 day moving average price of $21.55 and a 200-day moving average price of $23.64. PBF Energy has a one year low of $19.47 and a one year high of $35.67.
PBF Energy (NYSE:PBF) last released its earnings results on Thursday, February 16th. The oil and gas company reported ($0.71) EPS for the quarter, missing analysts’ consensus estimates of ($0.22) by $0.49. PBF Energy had a negative net margin of 0.02% and a positive return on equity of 0.11%. The business earned $4.75 billion during the quarter, compared to analyst estimates of $4.16 billion. During the same period last year, the business posted $0.70 EPS. PBF Energy’s revenue was up 41.3% compared to the same quarter last year. Analysts forecast that PBF Energy will post $1.08 EPS for the current fiscal year.
Institutional investors have recently added to or reduced their stakes in the stock. Teachers Advisors LLC raised its position in PBF Energy by 56.6% in the third quarter. Teachers Advisors LLC now owns 150,246 shares of the oil and gas company’s stock valued at $3,402,000 after buying an additional 54,309 shares in the last quarter. BlackRock Fund Advisors raised its position in PBF Energy by 2.4% in the third quarter. BlackRock Fund Advisors now owns 1,211,822 shares of the oil and gas company’s stock valued at $27,436,000 after buying an additional 28,262 shares in the last quarter. Oppenheimer & Co. Inc. raised its position in PBF Energy by 41.2% in the third quarter. Oppenheimer & Co. Inc. now owns 12,000 shares of the oil and gas company’s stock valued at $272,000 after buying an additional 3,500 shares during the period. Prudential Financial Inc. raised its position in PBF Energy by 8.8% in the third quarter. Prudential Financial Inc. now owns 1,614,014 shares of the oil and gas company’s stock valued at $36,542,000 after buying an additional 130,400 shares during the period. Finally, US Bancorp DE raised its position in PBF Energy by 56.0% in the third quarter. US Bancorp DE now owns 6,921 shares of the oil and gas company’s stock valued at $157,000 after buying an additional 2,484 shares during the period. 98.70% of the stock is currently owned by institutional investors and hedge funds.
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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