PBF Energy Inc. (PBF) Raised to Buy at Zacks Investment Research
Zacks Investment Research upgraded shares of PBF Energy Inc. (NYSE:PBF) from a hold rating to a buy rating in a research note released on Thursday. The firm currently has $30.00 price objective on the oil and gas company’s stock.
According to Zacks, “PBF Energy Inc. operates as a petroleum refiner and supplier. The Company offers unbranded transportation fuels, heating oil, petrochemical feedstocks, lubricants and other petroleum products in the United States. Its refineries are located in Toledo, Ohio, Delaware City, Delaware and Paulsboro, New Jersey. The company sells its products in the northeast and Midwest United States, as well as in other regions of the United States and Canada. PBF Energy Inc. is based in Parsippany, New Jersey. “
Other analysts have also issued reports about the company. Scotiabank set a $24.00 price objective on PBF Energy and gave the company a buy rating in a research note on Thursday, August 3rd. Citigroup Inc. cut their price target on PBF Energy from $37.50 to $33.50 and set a buy rating on the stock in a research note on Monday, July 17th. Cowen and Company reissued a buy rating and set a $30.00 price target on shares of PBF Energy in a research note on Thursday, August 17th. Tudor Pickering raised PBF Energy from a sell rating to a hold rating in a research note on Friday, September 1st. Finally, BidaskClub raised PBF Energy from a sell rating to a hold rating in a research note on Friday, August 4th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of Hold and a consensus price target of $24.30.
Shares of PBF Energy (NYSE PBF) traded down 1.68% on Thursday, reaching $26.38. 1,923,036 shares of the company traded hands. The company’s market capitalization is $2.89 billion. PBF Energy has a one year low of $18.48 and a one year high of $30.98. The firm’s 50 day moving average is $24.65 and its 200 day moving average is $22.41.
PBF Energy (NYSE:PBF) last released its quarterly earnings data on Thursday, August 3rd. The oil and gas company reported ($0.06) earnings per share for the quarter, missing the consensus estimate of $0.03 by ($0.09). The business had revenue of $5.02 billion during the quarter, compared to analyst estimates of $4.76 billion. PBF Energy had a negative net margin of 0.23% and a negative return on equity of 4.98%. During the same period last year, the business earned $0.14 earnings per share. Analysts expect that PBF Energy will post $0.85 earnings per share for the current fiscal year.
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Several institutional investors have recently bought and sold shares of the stock. Public Employees Retirement System of Ohio lifted its stake in shares of PBF Energy by 6.8% in the second quarter. Public Employees Retirement System of Ohio now owns 48,678 shares of the oil and gas company’s stock worth $1,084,000 after acquiring an additional 3,100 shares during the period. Ameritas Investment Partners Inc. acquired a new position in shares of PBF Energy in the second quarter worth approximately $715,000. Nomura Holdings Inc. acquired a new position in shares of PBF Energy in the second quarter worth approximately $227,000. Raymond James Financial Services Advisors Inc. acquired a new position in shares of PBF Energy in the second quarter worth approximately $1,380,000. Finally, The Manufacturers Life Insurance Company lifted its stake in shares of PBF Energy by 4,637.7% in the second quarter. The Manufacturers Life Insurance Company now owns 161,271 shares of the oil and gas company’s stock worth $3,590,000 after acquiring an additional 157,867 shares during the period.
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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