PBF Energy (NYSE:PBF – Get Free Report) was upgraded by analysts at Bank of America from a “neutral” rating to a “buy” rating in a research note issued to investors on Friday, Marketbeat.com reports. The brokerage presently has a $74.00 price target on the oil and gas company’s stock, up from their previous price target of $52.00. Bank of America‘s price objective suggests a potential upside of 30.63% from the stock’s current price.
A number of other equities analysts have also weighed in on the stock. TD Cowen boosted their price objective on shares of PBF Energy from $35.00 to $41.00 and gave the stock a “market perform” rating in a report on Friday, February 16th. Mizuho upgraded shares of PBF Energy from a “neutral” rating to a “buy” rating and set a $52.00 price objective for the company in a report on Wednesday, January 3rd. UBS Group lowered their price target on PBF Energy from $53.00 to $49.00 and set a “neutral” rating on the stock in a report on Thursday, December 7th. Piper Sandler reaffirmed a “neutral” rating and issued a $50.00 price objective (down previously from $65.00) on shares of PBF Energy in a report on Monday, January 8th. Finally, StockNews.com downgraded PBF Energy from a “buy” rating to a “hold” rating in a report on Monday, December 18th. Seven equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $54.80.
Get Our Latest Stock Report on PBF
PBF Energy Stock Up 3.6 %
PBF Energy stock traded up $1.96 during trading hours on Friday, hitting $56.65. 5,104,151 shares of the stock traded hands, compared to its average volume of 2,454,838. The firm’s 50-day moving average price is $47.96 and its two-hundred day moving average price is $47.36. The company has a current ratio of 1.56, a quick ratio of 0.81 and a debt-to-equity ratio of 0.19. The company has a market cap of $6.77 billion, a PE ratio of 3.44 and a beta of 1.71. PBF Energy has a one year low of $31.25 and a one year high of $58.65.
PBF Energy (NYSE:PBF – Get Free Report) last posted its quarterly earnings data on Thursday, February 15th. The oil and gas company reported ($0.41) earnings per share for the quarter, missing the consensus estimate of $0.08 by ($0.49). PBF Energy had a net margin of 5.59% and a return on equity of 23.69%. The firm had revenue of $9.14 billion for the quarter, compared to the consensus estimate of $8.65 billion. During the same period in the previous year, the firm posted $4.41 earnings per share. The business’s revenue was down 15.7% compared to the same quarter last year. On average, research analysts forecast that PBF Energy will post 6.16 EPS for the current year.
Insider Buying and Selling
In related news, SVP Connor Thomas L. O sold 40,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $55.07, for a total transaction of $2,202,800.00. Following the completion of the sale, the senior vice president now directly owns 160,338 shares of the company’s stock, valued at approximately $8,829,813.66. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other PBF Energy news, SVP Connor Thomas L. O sold 40,000 shares of PBF Energy stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $55.07, for a total transaction of $2,202,800.00. Following the completion of the sale, the senior vice president now directly owns 160,338 shares of the company’s stock, valued at approximately $8,829,813.66. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Trecia M. Canty sold 10,000 shares of PBF Energy stock in a transaction on Tuesday, December 19th. The shares were sold at an average price of $46.69, for a total value of $466,900.00. Following the sale, the senior vice president now directly owns 89,587 shares of the company’s stock, valued at $4,182,817.03. The disclosure for this sale can be found here. In the last three months, insiders acquired 1,268,200 shares of company stock valued at $54,251,872. Insiders own 5.30% of the company’s stock.
Institutional Inflows and Outflows
Several large investors have recently made changes to their positions in the stock. Vanguard Group Inc. raised its position in shares of PBF Energy by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 11,700,449 shares of the oil and gas company’s stock worth $514,352,000 after acquiring an additional 69,422 shares in the last quarter. Creekmur Asset Management LLC purchased a new position in PBF Energy during the 4th quarter worth $29,000. Neo Ivy Capital Management purchased a new position in PBF Energy during the 4th quarter worth $571,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main purchased a new position in PBF Energy during the 4th quarter worth $811,000. Finally, Venture Visionary Partners LLC grew its stake in PBF Energy by 8.3% during the 4th quarter. Venture Visionary Partners LLC now owns 10,000 shares of the oil and gas company’s stock worth $440,000 after buying an additional 763 shares during the last quarter. 89.56% of the stock is owned by institutional investors.
About PBF Energy
PBF Energy Inc, through 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 from crude oil.
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