Royal Bank Of Canada Reaffirms “Hold” Rating for PBF Energy Inc. (PBF)
Royal Bank Of Canada reaffirmed their hold rating on shares of PBF Energy Inc. (NYSE:PBF) in a research note released on Wednesday morning. Royal Bank Of Canada currently has a $28.00 price objective on the oil and gas company’s stock.
Several other analysts have also recently commented on the stock. Piper Jaffray Companies restated a hold rating and set a $20.00 price objective on shares of PBF Energy in a research note on Friday, July 14th. Credit Suisse Group cut shares of PBF Energy from a neutral rating to an underperform rating and set a $18.00 price objective for the company. in a research note on Tuesday, June 20th. Tudor Pickering upgraded shares of PBF Energy from a sell rating to a hold rating in a research note on Friday, September 1st. ValuEngine upgraded shares of PBF Energy from a sell rating to a hold rating in a research note on Friday, September 1st. Finally, BidaskClub cut shares of PBF Energy from a hold rating to a sell rating in a research note on Thursday, July 27th. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating, four have given a buy rating and one has given a strong buy rating to the company. The stock currently has an average rating of Hold and an average target price of $25.78.
PBF Energy (NYSE PBF) traded up 0.54% on Wednesday, reaching $27.73. 1,280,211 shares of the company’s stock traded hands. The stock has a 50 day moving average price of $26.31 and a 200 day moving average price of $22.83. PBF Energy has a 12-month low of $18.48 and a 12-month high of $30.98. The stock’s market cap is $3.04 billion.
PBF Energy (NYSE:PBF) last announced its quarterly earnings data on Thursday, August 3rd. The oil and gas company reported ($0.06) EPS for the quarter, missing the consensus estimate of $0.03 by ($0.09). PBF Energy had a negative net margin of 0.23% and a negative return on equity of 4.98%. The business had revenue of $5.02 billion for the quarter, compared to analyst estimates of $4.76 billion. During the same quarter in the previous year, the firm posted $0.14 earnings per share. Analysts forecast that PBF Energy will post $1.10 EPS for the current year.
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Several institutional investors and hedge funds have recently bought and sold shares of the stock. JPMorgan Chase & Co. lifted its stake in shares of PBF Energy by 8.7% in the 2nd quarter. JPMorgan Chase & Co. now owns 11,884,657 shares of the oil and gas company’s stock valued at $264,551,000 after purchasing an additional 953,577 shares during the period. Vanguard Group Inc. lifted its stake in shares of PBF Energy by 1.4% in the 1st quarter. Vanguard Group Inc. now owns 10,203,227 shares of the oil and gas company’s stock valued at $226,206,000 after purchasing an additional 141,619 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of PBF Energy by 7.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 9,230,934 shares of the oil and gas company’s stock valued at $205,480,000 after purchasing an additional 635,728 shares during the period. BlackRock Inc. lifted its stake in shares of PBF Energy by 94.0% in the 2nd quarter. BlackRock Inc. now owns 9,111,987 shares of the oil and gas company’s stock valued at $202,832,000 after purchasing an additional 4,415,117 shares during the period. Finally, State Street Corp lifted its stake in shares of PBF Energy by 48.0% in the 2nd quarter. State Street Corp now owns 4,969,947 shares of the oil and gas company’s stock valued at $110,639,000 after purchasing an additional 1,611,707 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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