PBF Energy Inc. (NYSE:PBF) Stock Rating Reaffirmed by Piper Jaffray Companies
PBF Energy Inc. (NYSE:PBF)‘s stock had its “hold” rating reaffirmed by Piper Jaffray Companies in a research note issued on Friday. They presently have a $20.00 price target on the oil and gas company’s stock. Piper Jaffray Companies’ price target points to a potential downside of 9.46% from the company’s current price.
PBF has been the topic of several other reports. Zacks Investment Research raised PBF Energy from a “strong sell” rating to a “hold” rating in a research report on Wednesday, March 22nd. Barclays PLC reaffirmed an “outperform” rating on shares of PBF Energy in a research report on Friday, April 14th. Credit Suisse Group lowered PBF Energy from a “neutral” rating to an “underperform” rating and set a $18.00 target price on the stock. in a research report on Tuesday, June 20th. US Capital Advisors reaffirmed a “hold” rating on shares of PBF Energy in a research report on Monday, May 22nd. Finally, Scotiabank set a $24.00 target price on PBF Energy and gave the stock a “buy” rating in a research report on Saturday, May 6th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $23.83.
Shares of PBF Energy (NYSE:PBF) opened at 22.09 on Friday. The firm’s 50-day moving average price is $21.39 and its 200 day moving average price is $22.95. The firm has a market cap of $2.42 billion, a PE ratio of 13.22 and a beta of 1.40. PBF Energy has a 1-year low of $18.48 and a 1-year high of $30.98.
PBF Energy (NYSE:PBF) last issued its quarterly earnings results on Thursday, May 4th. The oil and gas company reported ($0.20) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.46) by $0.26. PBF Energy had a negative return on equity of 4.20% and a net margin of 0.95%. The company had revenue of $4.75 billion for the quarter, compared to analyst estimates of $4.29 billion. During the same quarter in the prior year, the company posted ($0.65) EPS. The business’s revenue for the quarter was up 69.8% compared to the same quarter last year. On average, equities research analysts forecast that PBF Energy will post $0.75 EPS for the current fiscal year.
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In related news, insider Connor Thomas L. O purchased 10,000 shares of the stock in a transaction that occurred on Friday, May 26th. The stock was purchased at an average cost of $20.17 per share, for a total transaction of $201,700.00. Following the acquisition, the insider now owns 105,135 shares in the company, valued at $2,120,572.95. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Thomas J. Nimbley purchased 50,000 shares of the stock in a transaction that occurred on Tuesday, May 30th. The stock was bought at an average price of $19.69 per share, with a total value of $984,500.00. Following the completion of the acquisition, the chief executive officer now owns 290,000 shares in the company, valued at approximately $5,710,100. The disclosure for this purchase can be found here. 2.55% of the stock is currently owned by corporate insiders.
Hedge funds have recently made changes to their positions in the stock. JPMorgan Chase & Co. increased its stake in shares of PBF Energy by 1.9% in the first quarter. JPMorgan Chase & Co. now owns 10,931,080 shares of the oil and gas company’s stock valued at $242,343,000 after buying an additional 201,060 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of PBF Energy by 1.4% in the first quarter. Vanguard Group Inc. now owns 10,203,227 shares of the oil and gas company’s stock valued at $226,206,000 after buying an additional 141,619 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of PBF Energy by 49.6% in the first quarter. Dimensional Fund Advisors LP now owns 8,595,206 shares of the oil and gas company’s stock valued at $190,554,000 after buying an additional 2,850,233 shares in the last quarter. BlackRock Inc. increased its stake in shares of PBF Energy by 14,494.7% in the first quarter. BlackRock Inc. now owns 4,696,870 shares of the oil and gas company’s stock valued at $104,130,000 after buying an additional 4,664,688 shares in the last quarter. Finally, State Street Corp increased its stake in shares of PBF Energy by 15.9% in the first quarter. State Street Corp now owns 3,358,240 shares of the oil and gas company’s stock valued at $74,446,000 after buying an additional 460,879 shares in the last quarter.
About PBF Energy
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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