The energy sector is notoriously volatile, with markets heavily influenced by geopolitical conditions and shifts in general economic trends. It’s for this reason that investors are always seeking out the latest information concerning oil and gas companies like PBF Energy (NYSE:PBF).
In the wake of a recent report released by JPMorgan Chase & Co., investors across the board are taking notice of what analysts have to say about PBF Energy. According to The Fly, JPMorgan Chase & Co. has raised its target price for shares in PBF Energy from $53.00 to $59.00.
This new target represents a potential upside of 38.76% from the stock’s previous close, providing investors with a rare chance to profit off of a company within such an unpredictable industry.
But what underpins this positive outlook for PBF Energy? Despite missing analyst earnings estimate by $0.54 per share during its most recent quarterly earnings report, PBF still managed to see an increase in overall revenue, racking up $10.85 billion compared to analyst estimates of $9.71.
This impressive growth also enabled PBF Energy to produce a return on equity figure of 72.79%, as well as a net margin of 6.14%. Over the course of the last year, revenue saw a 31.6% increase from the same quarter in previous years, with shares expected to post earnings per share figures (EPS) for this current year at around 10.71.
While it’s true that no one can ever predict precisely where energy markets or individual companies will go next entirely accurately, numerous factors point towards sustained growth and profitability when it comes to PBF Energy.
Following market trends and keeping up-to-date with brokers like JPMorgan Chase & Co.’s is key when considering investing decisions within such tumultuous sectors; but with companies like PBF looking up, intelligent investments may indeed pay off in the long run.
PBF Energy’s Ratings Fluctuate with Mixed Reviews from Industry Experts
PBF Energy’s Shares Undergo Rating Changes By Multiple Research Firms
The petroleum refinery company, PBF Energy Inc. (NYSE:PBF), has undergone fluctuating ratings from different research firms. Among these are Street and StockNews.com who downgraded PBF energy stock to “C” and “Hold,” respectively. However, Morgan Stanley raised their price target to $50.00 and gave the company an “equal weight” rating while Wells Fargo & Company set an “overweight” rating with a $50.00 price target.
Additionally, several institutional investors have recently modified their holdings of the stock with notable purchases like BlackRock Inc., which grew its shares by 9.9%. These recent events have not only financially influenced the stock but result in mixed reviews from industry experts.
PBF Energy is a leading supplier of unbranded transportation fuels, heating oil, petrochemical feedstocks, lubricants, and other petroleum products in the United States through operations in the Refining and Logistics segments.
While analysts continue to offer nuanced opinions on PBF Energy’s future growth prospects, Bloomberg suggests that there is currently a consensus rating of “hold” for PBF Energy’s shares with an average target price of $45.31.
As of Tuesday morning trading at NYSE:PBF opened at $42.52 with a market capitalization of $5.48 billion, a PE ratio of 1.87 and a beta of 1.92 displaying marginal improvement compared to previous market sessions following heavy selling volume throughout mid-March 2021.
Moreover, according to data taken over fifty days moving average prices show improvements hovering around $42.63 against the 200-day average price standing at $40.62 indicative of lukewarm conditions ahead for PBF’s stock.
Despite current confusion surrounding this evolving situation from prominent players both inside and outside the company itself – variously including institutional investors as well as research firms. For the time being, all interested parties will have to continue monitoring developments surrounding PBF Energy’s stock as things progress, tracking its highs and lows to chart a course for future investment.
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