Analysts Set PBF Energy Inc. (PBF) PT at $31.00
Shares of PBF Energy Inc. (NYSE:PBF) have earned an average recommendation of “Hold” from the seventeen analysts that are presently covering the company. Three research analysts have rated the stock with a sell recommendation, ten have issued a hold recommendation and three have assigned a buy recommendation to the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $29.09.
A number of equities research analysts have weighed in on the company. Credit Suisse Group AG downgraded PBF Energy from an “outperform” rating to a “neutral” rating and lowered their target price for the stock from $28.00 to $22.00 in a report on Tuesday. Barclays PLC downgraded PBF Energy from an “equal weight” rating to an “underweight” rating and decreased their price objective for the company from $26.00 to $19.00 in a report on Monday. Piper Jaffray Cos. boosted their price objective on PBF Energy from $17.00 to $20.00 and gave the company a “neutral” rating in a report on Friday, September 16th. Deutsche Bank AG decreased their price objective on PBF Energy from $28.00 to $27.00 and set a “hold” rating for the company in a report on Thursday, September 15th. Finally, Goldman Sachs Group Inc. downgraded PBF Energy from a “neutral” rating to a “sell” rating and decreased their price objective for the company from $23.00 to $19.00 in a report on Thursday, September 8th.
In other PBF Energy news, insider Connor Thomas L. O acquired 10,000 shares of the business’s stock in a transaction on Friday, September 9th. The shares were acquired at an average price of $21.73 per share, with a total value of $217,300.00. Following the completion of the transaction, the insider now owns 50,000 shares in the company, valued at $1,086,500. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Thomas J. Nimbley acquired 50,000 shares of the business’s stock in a transaction on Friday, September 9th. The stock was acquired at an average cost of $21.84 per share, for a total transaction of $1,092,000.00. Following the transaction, the chief executive officer now owns 160,000 shares of the company’s stock, valued at approximately $3,494,400. The disclosure for this purchase can be found here. 5.70% of the stock is owned by company insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the company. TIAA CREF Investment Management LLC boosted its position in PBF Energy by 9.3% in the first quarter. TIAA CREF Investment Management LLC now owns 309,196 shares of the company’s stock valued at $10,265,000 after buying an additional 26,299 shares in the last quarter. Teachers Advisors Inc. boosted its position in shares of PBF Energy by 243.3% in the first quarter. Teachers Advisors Inc. now owns 275,850 shares of the company’s stock worth $9,158,000 after buying an additional 195,503 shares in the last quarter. Prudential Financial Inc. boosted its position in shares of PBF Energy by 55.0% in the first quarter. Prudential Financial Inc. now owns 250,960 shares of the company’s stock worth $8,332,000 after buying an additional 89,030 shares in the last quarter. BlackRock Inc. boosted its position in shares of PBF Energy by 183.4% in the first quarter. BlackRock Inc. now owns 29,361 shares of the company’s stock worth $974,000 after buying an additional 19,002 shares in the last quarter. Finally, BlackRock Institutional Trust Company N.A. boosted its position in shares of PBF Energy by 1.4% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 2,408,922 shares of the company’s stock worth $79,976,000 after buying an additional 33,453 shares in the last quarter. 99.55% of the stock is currently owned by institutional investors and hedge funds.
Shares of PBF Energy (NYSE:PBF) opened at 20.03 on Monday. The firm’s market cap is $1.96 billion. The stock has a 50 day moving average price of $22.20 and a 200 day moving average price of $25.60. PBF Energy has a 12-month low of $19.61 and a 12-month high of $41.75.
PBF Energy (NYSE:PBF) last issued its earnings results on Friday, July 29th. The company reported $0.14 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.87 by $0.73. The business earned $3.86 billion during the quarter, compared to the consensus estimate of $3.06 billion. PBF Energy had a positive return on equity of 9.19% and a negative net margin of 0.02%. The company’s revenue for the quarter was up 8.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.88 earnings per share. On average, equities analysts expect that PBF Energy will post ($0.29) earnings per share for the current year.
PBF Energy Company Profile
PBF Energy Inc (PBF Energy) is a holding company. The Company is an independent petroleum refiner and supplier of unbranded transportation fuels, heating oil, petrochemical feedstocks, lubricants and other petroleum products in the United States. The Company operates through two segments: Refining and Logistics.
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