PBF Energy Inc Expected to Earn Q3 2018 Earnings of $0.99 Per Share (PBF)

PBF Energy Inc (NYSE:PBF) – Investment analysts at US Capital Advisors raised their Q3 2018 earnings per share estimates for PBF Energy in a report issued on Monday, October 15th. US Capital Advisors analyst C. Weiland now anticipates that the oil and gas company will post earnings of $0.99 per share for the quarter, up from their prior estimate of $0.94.

A number of other equities analysts have also recently issued reports on the stock. Morgan Stanley set a $54.00 price objective on shares of PBF Energy and gave the stock a “sell” rating in a research report on Friday, October 12th. Credit Suisse Group increased their price objective on shares of PBF Energy from $46.00 to $53.00 and gave the stock a “neutral” rating in a research report on Friday, October 5th. Citigroup increased their price objective on shares of PBF Energy from $50.00 to $55.00 and gave the stock a “hold” rating in a research report on Friday, September 7th. Goldman Sachs Group raised shares of PBF Energy from a “sell” rating to a “neutral” rating in a research report on Friday, September 7th. Finally, Wells Fargo & Co cut their price objective on shares of PBF Energy from $63.00 to $59.00 and set an “outperform” rating on the stock in a research report on Friday, August 10th. Two analysts have rated the stock with a sell rating, ten have given a hold rating and seven have given a buy rating to the stock. PBF Energy presently has a consensus rating of “Hold” and a consensus target price of $45.58.

PBF stock opened at $43.22 on Thursday. The stock has a market cap of $5.58 billion, a PE ratio of 37.92, a P/E/G ratio of 1.14 and a beta of 1.47. The company has a current ratio of 1.66, a quick ratio of 0.63 and a debt-to-equity ratio of 0.70. PBF Energy has a 1 year low of $26.94 and a 1 year high of $53.91.

PBF Energy (NYSE:PBF) last released its quarterly earnings data on Thursday, August 2nd. The oil and gas company reported $1.38 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.35 by $0.03. The company had revenue of $7.44 billion for the quarter, compared to analysts’ expectations of $6.15 billion. PBF Energy had a net margin of 3.40% and a return on equity of 9.82%. The business’s revenue was up 48.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.06) EPS.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Canada Pension Plan Investment Board raised its holdings in shares of PBF Energy by 2.4% in the 2nd quarter. Canada Pension Plan Investment Board now owns 344,222 shares of the oil and gas company’s stock worth $14,433,000 after acquiring an additional 8,100 shares during the last quarter. Millennium Management LLC raised its holdings in shares of PBF Energy by 38.2% in the 2nd quarter. Millennium Management LLC now owns 1,071,985 shares of the oil and gas company’s stock worth $44,948,000 after acquiring an additional 296,586 shares during the last quarter. Employees Retirement System of Texas acquired a new stake in shares of PBF Energy in the 2nd quarter worth about $3,774,000. Bank of New York Mellon Corp increased its stake in PBF Energy by 86.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 4,003,420 shares of the oil and gas company’s stock valued at $167,862,000 after buying an additional 1,850,884 shares during the last quarter. Finally, Renaissance Technologies LLC increased its stake in PBF Energy by 81.5% in the 2nd quarter. Renaissance Technologies LLC now owns 620,400 shares of the oil and gas company’s stock valued at $26,013,000 after buying an additional 278,600 shares during the last quarter. Institutional investors own 92.97% of the company’s stock.

About PBF Energy

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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