PBF Energy (NYSE:PBF – Get Free Report) had its price objective raised by equities research analysts at JPMorgan Chase & Co. from $54.00 to $59.00 in a report issued on Monday, Benzinga reports. The brokerage currently has an “overweight” rating on the oil and gas company’s stock. JPMorgan Chase & Co.‘s price target indicates a potential upside of 0.68% from the company’s current price.
PBF has been the subject of a number of other research reports. Piper Sandler reissued a “neutral” rating and issued a $50.00 target price (down previously from $65.00) on shares of PBF Energy in a report on Monday, January 8th. StockNews.com lowered PBF Energy from a “buy” rating to a “hold” rating in a report on Monday, December 18th. TD Cowen lifted their target price on PBF Energy from $35.00 to $41.00 and gave the stock a “market perform” rating in a report on Friday, February 16th. Citigroup initiated coverage on PBF Energy in a report on Wednesday, January 24th. They issued a “neutral” rating for the company. Finally, UBS Group reduced their target price on PBF Energy from $53.00 to $49.00 and set a “neutral” rating for the company in a report on Thursday, December 7th. Eight investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $56.00.
Read Our Latest Analysis on PBF
PBF Energy Stock Up 1.8 %
PBF stock traded up $1.03 on Monday, reaching $58.60. 1,521,227 shares of the company traded hands, compared to its average volume of 2,373,028. PBF Energy has a one year low of $31.25 and a one year high of $58.72. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.56 and a quick ratio of 0.81. The company has a market cap of $7.01 billion, a P/E ratio of 3.56 and a beta of 1.73. The firm has a fifty day simple moving average of $51.18 and a 200-day simple moving average of $47.76.
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 analysts’ consensus estimates of $0.08 by ($0.49). PBF Energy had a net margin of 5.59% and a return on equity of 23.69%. The company had revenue of $9.14 billion for the quarter, compared to the consensus estimate of $8.65 billion. During the same period last year, the business earned $4.41 EPS. The firm’s quarterly revenue was down 15.7% on a year-over-year basis. Research analysts anticipate that PBF Energy will post 6.13 earnings per share for the current year.
Insider Buying and Selling
In related news, insider Control Empresarial De Capital bought 12,200 shares of the stock in a transaction that occurred on Wednesday, January 24th. The shares were bought at an average cost of $43.86 per share, for a total transaction of $535,092.00. Following the completion of the transaction, the insider now owns 14,345,198 shares of the company’s stock, valued at $629,180,384.28. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related 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 transaction, the senior vice president now directly owns 160,338 shares in the company, valued at $8,829,813.66. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Control Empresarial De Capital bought 12,200 shares of the stock in a transaction that occurred on Wednesday, January 24th. The shares were bought at an average price of $43.86 per share, for a total transaction of $535,092.00. Following the completion of the transaction, the insider now directly owns 14,345,198 shares of the company’s stock, valued at approximately $629,180,384.28. The disclosure for this purchase can be found here. Over the last 90 days, insiders bought 1,268,200 shares of company stock valued at $54,251,872 and sold 180,000 shares valued at $10,074,600. 6.20% of the stock is currently owned by corporate insiders.
Hedge Funds Weigh In On PBF Energy
Several large investors have recently made changes to their positions in the business. Fifth Third Bancorp lifted its position in shares of PBF Energy by 39.8% in the third quarter. Fifth Third Bancorp now owns 808 shares of the oil and gas company’s stock valued at $43,000 after acquiring an additional 230 shares in the last quarter. Quadrant Capital Group LLC lifted its position in shares of PBF Energy by 12.8% in the fourth quarter. Quadrant Capital Group LLC now owns 2,598 shares of the oil and gas company’s stock valued at $114,000 after acquiring an additional 295 shares in the last quarter. C M Bidwell & Associates Ltd. lifted its position in shares of PBF Energy by 6.7% in the third quarter. C M Bidwell & Associates Ltd. now owns 4,875 shares of the oil and gas company’s stock valued at $261,000 after acquiring an additional 305 shares in the last quarter. Metropolitan Life Insurance Co NY lifted its position in shares of PBF Energy by 6.1% in the fourth quarter. Metropolitan Life Insurance Co NY now owns 6,136 shares of the oil and gas company’s stock valued at $250,000 after acquiring an additional 352 shares in the last quarter. Finally, Mercer Global Advisors Inc. ADV lifted its position in shares of PBF Energy by 2.3% in the third quarter. Mercer Global Advisors Inc. ADV now owns 16,027 shares of the oil and gas company’s stock valued at $858,000 after acquiring an additional 354 shares in the last quarter. 96.29% of the stock is currently owned by hedge funds and other 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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