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Wells Fargo & Company has raised its price target on PBF Energy (NYSE:PBF) to $49.00. – Best Stocks

Written by Amanda
  1. Wells Fargo & Company has raised its price target on PBF Energy (NYSE:PBF) to $49.00.  Best Stocks
  2. PBF Energy (NYSE:PBF) Given New $49.00 Price Target at Wells Fargo & Company  MarketBeat
  3. JP Morgan lifts PBF Energy Inc. [PBF] price estimate. Who else is bullish?  DBTNews
  4. Insider Selling: O Connor Thomas L, PBF Energy Inc. [PBF] Senior Vice President divested 100000 shares – Knox Daily  Knox Daily
  5. PBF Energy (NYSE:PBF) Shares Gap Up on Analyst Upgrade  ETF Daily News
  6. View Full Coverage on Google News

Wells Fargo & Company’s stock research analysts increased their price target on PBF Energy (NYSE: PBF-Get Rating) from $48.00 to $49.00 in a research note published on Wednesday. The corporation now considers the oil and gas company’s stock to be “overweight” in terms of its holdings of that company’s shares. When Wells Fargo & Company reaches their target price, they expect a price increase of up to 65.04 percent. There have been multiple pieces written about the company by various equity experts, including myself. In a research report issued on August 1, Cowen raised their price target for PBF Energy from $25.00 to $32.00. The price goal had previously been set at $25.00. In a research note on Wednesday, JPMorgan Chase & Co. raised their rating on PBF Energy’s stock from “neutral” to “overweight” and set their price objective for the company’s shares at $43.00.

The announcement was made by Credit Suisse Group on June 9 in a research note released that day. They said they were boosting their price objective for PBF Energy to $37.00. The rating for PBF Energy was lifted from “underperform” to “outperform” in a report made public by Wolfe Research on September 14. Additionally, the price target for the company’s shares was raised from $36.00 to $49.00. In a research note published on Friday, July 15, Morgan Stanley increased their price objective on PBF Energy shares from $34.00 to $36.00 and classified the business as “equal weight.” This was the last and most important development. Five analysts have recommended purchasing the stock, while one has rated it a strong buy. Five other analysts have suggested that investors maintain their current holdings in the firm. Two separate analysts each suggested to the corporation that they believed it would be beneficial to “sell” their shares. According to information from MarketBeat.com, the stock currently carries an average recommendation of “Hold,” and the consensus price objective for the stock is $34.15. When trading started on Wednesday, the price of a share of PBF Energy was $29.69 per share.

A debt-to-equity ratio comes in at 0.55, a quick ratio that comes in at 0.64, a current ratio that comes in at 1.08, and a quick ratio that comes in at 1.08. PBF Energy reached a low of $9.62 during the prior year, while the company reached a high of $44.12 during the same period. Currently, the company has a market value of $3.62 billion, a P/E ratio of 2.62, and a beta of 2.15. This information can be found on the company’s website. The moving average for the past 50 days for the company is $32.01, while the moving average for the previous 200 days is $30.17.
On July 28, PBF Energy (NYSE: PBF-Get Rating) shared the results of its most recent quarterly financial report with the investing community. The oil and gas industry created an earnings per share total for the quarter of $10.58, which was $3.22 higher than the consensus forecast of $7.36 among industry analysts. PBF Energy had a return on equity of 55.28 percent, and the company’s net margin was 3.644 percent. The ultimate sales tally for the quarter was $14.08 billion, which was much more than the average projection of $10.67 billion for the amount of money that would be made during the quarter. The company generated earnings of $1.26) per share during the same time period the year before. The company’s revenue for the current quarter is up 104.1% when measured against what it brought in during the same quarter of the previous year, making this quarter a record-breaking one for the business.

Most financial experts agree that PBF Energy will make 19.96 cents per share in 2018.
This leads us to another piece of information regarding PBF Energy that occurred on Tuesday, August 23, when Senior Vice President Connor Thomas L. O. sold 100,000 shares of the company’s stock. The shares were sold for an average of $37.54 per share, which resulted in a revenue of $3,754,000.00 upon completion of the transaction. The senior vice president now owns 80,000 shares, which have a combined value of $3,003,200 as a direct result of the transaction. The sale was made to the general public through a filing that was made with the SEC, which can be accessed and read about on this website. The current percentage of the company’s stock held by insiders is 5.60 percent.
Consequently, the proportions of the stock that institutional investors and hedge funds own have been rebalanced. Assenagon Asset Management S.A. boosted the amount of PBF Energy in which it is invested by 195.3% during the second quarter of the year. Assenagon Asset Management S.A. now has a total of 2,756,230 shares of the oil and gas company’s stock, which are now valued at $79,986,000 after purchasing an additional 1,822,773 shares during the most recent quarter.

This brings the total number of shares owned by the business to 2,756,230. Millennium Management LLC increased its investment in PBF Energy by 388.1 percent during the second quarter. Millennium Management LLC, which had acquired an additional 1,581,991 shares, now directly holds 1,989,509 shares in the oil and gas firm. These shares have a current value of $57,736,000. The quarter concluded today. During the second quarter, 140 Summer Partners L.P. contributed a new investment to PBF Energy for $45,031,000. This investment was made possible because of PBF Energy’s strong performance. In addition, PointState Capital L.P. made a new investment in PBF Energy during the second quarter of 2018 with roughly $36,372,000. The firm was the party that participated in this transaction. The most recent and significant occurrence was a 1,942.7% increase in JPMorgan Chase & Co.’s investment in PBF Energy during the fourth quarter. This was the culmination of a series of events. JPMorgan Chase & Co. now owns a total of 1,182,780 shares of the oil and gas firm, which has a value of $15,341,000 following the purchase of an additional 1,124,878 shares during the most recent quarter.

The majority of the company’s stock is held by institutional investors, which accounts for 87.50% of the total.
PBF Energy Inc. and its subsidiaries and affiliates are in charge of processing and distributing various petrochemical products. Refining and logistics are the names of two business divisions that are a part of this organization. In addition to gasoline, ultra-low sulfur diesel, heating oil, diesel fuel, jet fuel, lubricants, and asphalt, it also makes petrochemical feedstocks, blending materials, and other petroleum products.

Source: beststocks.com

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Amanda

Hi there, I am Amanda and I work as an editor at impactinvesting.ai;  if you are interested in my services, please reach me at amanda.impactinvesting.ai

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