PBF Energy (PBF) Reaches New 1-Year High and Low After Analyst Upgrade

Shares of PBF Energy (NYSE:PBF) reached a new 52-week high and low during mid-day trading on Tuesday after Morgan Stanley raised their price target on the stock from $37.00 to $38.00. Morgan Stanley currently has a sell rating on the stock. PBF Energy traded as low as $37.49 and last traded at $37.36, with a volume of 557872 shares trading hands. The stock had previously closed at $37.15.

PBF has been the topic of several other reports. Cowen cut shares of PBF Energy from an “outperform” rating to a “market perform” rating and upped their price target for the company from $30.00 to $31.00 in a report on Friday, February 16th. Credit Suisse Group began coverage on shares of PBF Energy in a report on Monday, April 9th. They issued a “neutral” rating and a $37.00 price target on the stock. Scotia Howard Weill reaffirmed a “sector perform” rating on shares of PBF Energy in a report on Wednesday, April 11th. Citigroup upped their price target on shares of PBF Energy from $37.00 to $42.00 and gave the company a “buy” rating in a report on Wednesday, January 24th. Finally, JPMorgan Chase upped their price target on shares of PBF Energy from $34.00 to $35.00 and gave the company an “underweight” rating in a report on Monday, April 9th. Four analysts have rated the stock with a sell rating, eleven have issued a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. PBF Energy currently has an average rating of “Hold” and an average target price of $37.60.

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A number of hedge funds have recently added to or reduced their stakes in the business. Ffcm LLC grew its position in shares of PBF Energy by 421.1% during the fourth quarter. Ffcm LLC now owns 4,758 shares of the oil and gas company’s stock worth $172,000 after acquiring an additional 3,845 shares during the last quarter. Bessemer Group Inc. bought a new position in shares of PBF Energy during the fourth quarter worth about $207,000. Ingalls & Snyder LLC bought a new position in shares of PBF Energy during the fourth quarter worth about $209,000. CIBC World Markets Inc. bought a new position in shares of PBF Energy during the fourth quarter worth about $213,000. Finally, Shelton Capital Management bought a new position in shares of PBF Energy during the third quarter worth about $218,000.

The stock has a market capitalization of $4,025.14, a P/E ratio of 32.59, a PEG ratio of 1.06 and a beta of 1.16. The company has a current ratio of 1.57, a quick ratio of 0.66 and a debt-to-equity ratio of 0.75.

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

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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.

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