PBF Energy (NYSE:PBF – Get Rating) was upgraded by research analysts at Wells Fargo & Company from an “equal weight” rating to an “overweight” rating in a report released on Tuesday, The Fly reports.
A number of other brokerages have also recently weighed in on PBF. StockNews.com cut shares of PBF Energy from a “buy” rating to a “hold” rating in a research report on Wednesday, June 8th. JPMorgan Chase & Co. raised shares of PBF Energy from an “underweight” rating to a “neutral” rating and set a $34.00 target price for the company in a report on Tuesday, May 17th. Scotiabank raised shares of PBF Energy from an “underperform” rating to a “sector perform” rating and upped their price target for the stock from $15.00 to $27.00 in a report on Monday, April 18th. Piper Sandler upped their price objective on shares of PBF Energy to $43.00 and gave the stock an “overweight” rating in a research report on Monday, May 23rd. Finally, Bank of America upgraded shares of PBF Energy from a “neutral” rating to a “buy” rating and upped their price target for the company from $15.00 to $25.00 in a research report on Tuesday, March 8th. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $25.92.
NYSE PBF opened at $37.53 on Tuesday. The company has a market capitalization of $4.53 billion, a PE ratio of 18.22 and a beta of 2.24. PBF Energy has a 1-year low of $7.24 and a 1-year high of $44.12. The firm’s fifty day simple moving average is $30.94 and its 200-day simple moving average is $22.10. The company has a current ratio of 1.25, a quick ratio of 0.69 and a debt-to-equity ratio of 1.71.
PBF Energy (NYSE:PBF – Get Rating) last released its earnings results on Thursday, April 28th. The oil and gas company reported $0.35 earnings per share for the quarter, beating the consensus estimate of $0.26 by $0.09. The business had revenue of $9.14 billion during the quarter, compared to analysts’ expectations of $8.24 billion. PBF Energy had a net margin of 0.80% and a return on equity of 2.56%. The firm’s revenue was up 85.6% on a year-over-year basis. During the same quarter last year, the company earned ($2.61) earnings per share. As a group, analysts predict that PBF Energy will post 6.79 EPS for the current year.
In other news, SVP Paul T. Davis sold 75,499 shares of the stock in a transaction on Wednesday, May 4th. The stock was sold at an average price of $30.97, for a total transaction of $2,338,204.03. Following the completion of the transaction, the senior vice president now directly owns 44,126 shares in the company, valued at approximately $1,366,582.22. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Control Empresarial De Capital sold 346,060 shares of PBF Energy stock in a transaction dated Saturday, March 19th. The shares were sold at an average price of $29.68, for a total value of $10,271,060.80. Following the completion of the transaction, the insider now owns 23,217,123 shares of the company’s stock, valued at approximately $689,084,210.64. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 6,651,547 shares of company stock worth $201,518,077. Insiders own 5.60% of the company’s stock.
Several institutional investors have recently bought and sold shares of the stock. Renaissance Technologies LLC purchased a new stake in shares of PBF Energy in the fourth quarter worth about $3,207,000. Strs Ohio increased its position in PBF Energy by 8.4% in the 4th quarter. Strs Ohio now owns 61,700 shares of the oil and gas company’s stock valued at $800,000 after acquiring an additional 4,800 shares during the period. Patriot Financial Group Insurance Agency LLC increased its position in shares of PBF Energy by 242.8% during the 3rd quarter. Patriot Financial Group Insurance Agency LLC now owns 7,370 shares of the oil and gas company’s stock valued at $96,000 after purchasing an additional 5,220 shares during the period. Seven Eight Capital LP increased its position in shares of PBF Energy by 94.0% during the 4th quarter. Seven Eight Capital LP now owns 26,752 shares of the oil and gas company’s stock valued at $347,000 after purchasing an additional 12,961 shares during the period. Finally, PDT Partners LLC bought a new stake in shares of PBF Energy during the 4th quarter worth $994,000. Hedge funds and other institutional investors own 69.95% of the company’s stock.
About PBF Energy (Get Rating)
PBF Energy Inc, together with its subsidiaries, engages in refining and supplying petroleum products. The company operates in 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.
Further Reading
Receive News & Ratings for PBF Energy Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for PBF Energy and related companies with MarketBeat.com’s FREE daily email newsletter.
Source: defenseworld.net
