PBF Energy (PBF) Price Target Raised to $38.00 at Morgan Stanley

PBF Energy (NYSE:PBF) had its target price raised by Morgan Stanley from $37.00 to $38.00 in a research note issued on Monday, Marketbeat.com reports. The brokerage presently has a “sell” rating on the oil and gas company’s stock. Morgan Stanley’s target price would indicate a potential upside of 2.29% from the company’s previous close.

Other research analysts have also recently issued research reports about the company. Barclays reaffirmed a “buy” rating and set a $44.00 target price on shares of PBF Energy in a research report on Friday, February 16th. ValuEngine raised PBF Energy from a “hold” rating to a “buy” rating in a research report on Friday, February 2nd. Zacks Investment Research raised PBF Energy from a “hold” rating to a “buy” rating and set a $39.00 price objective on the stock in a research report on Saturday, December 23rd. Scotiabank reissued a “buy” rating and issued a $40.00 price objective on shares of PBF Energy in a research report on Thursday, December 21st. Finally, Citigroup boosted their price objective on PBF Energy from $37.00 to $42.00 and gave the stock a “buy” rating in a research report on Wednesday, January 24th. Four investment analysts have rated the stock with a sell rating, eleven have issued a hold rating, three have given a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $37.60.

Shares of NYSE:PBF opened at $37.15 on Monday. The company has a market cap of $4,025.14, a P/E ratio of 31.90, a P/E/G ratio of 1.06 and a beta of 1.16. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.66 and a current ratio of 1.57. PBF Energy has a 12-month low of $18.48 and a 12-month high of $37.34.

PBF Energy (NYSE:PBF) last announced its earnings results on Thursday, February 15th. The oil and gas company reported ($0.04) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.21 by ($0.25). The company had revenue of $6.54 billion for the quarter, compared to analysts’ expectations of $5.23 billion. PBF Energy had a net margin of 1.91% and a return on equity of 4.97%. The firm’s quarterly revenue was up 37.6% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.71) EPS. research analysts predict that PBF Energy will post 3.42 earnings per share for the current fiscal year.

Hedge funds have recently bought and sold shares of the business. Cornerstone Capital Management Holdings LLC. purchased a new position in PBF Energy in the third quarter worth $838,000. Credit Agricole S A lifted its position in shares of PBF Energy by 18.1% during the 4th quarter. Credit Agricole S A now owns 32,000 shares of the oil and gas company’s stock valued at $1,134,000 after buying an additional 4,914 shares during the last quarter. River Road Asset Management LLC lifted its position in shares of PBF Energy by 0.6% during the 4th quarter. River Road Asset Management LLC now owns 592,025 shares of the oil and gas company’s stock valued at $20,987,000 after buying an additional 3,420 shares during the last quarter. BlackRock Inc. lifted its position in shares of PBF Energy by 3.0% during the 4th quarter. BlackRock Inc. now owns 9,293,993 shares of the oil and gas company’s stock valued at $329,471,000 after buying an additional 268,354 shares during the last quarter. Finally, Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp lifted its position in shares of PBF Energy by 260.8% during the 4th quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp now owns 120,778 shares of the oil and gas company’s stock valued at $4,282,000 after buying an additional 87,300 shares during the last quarter.

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PBF Energy Company Profile

PBF Energy Inc, together with its subsidiaries, engages in the refining and supply of petroleum products. The company operates through 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.

Analyst Recommendations for PBF Energy (NYSE:PBF)

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