Morgan Stanley upgraded shares of PBF Energy (NYSE:PBF) from an equal weight rating to an overweight rating in a research report report published on Wednesday morning, MarketBeat.com reports. Morgan Stanley currently has $48.00 price objective on the oil and gas company’s stock, down from their previous price objective of $50.00.

Several other analysts have also recently issued reports on PBF. Credit Suisse Group dropped their target price on PBF Energy from $51.00 to $47.00 and set a neutral rating on the stock in a research report on Monday, January 7th. Raymond James dropped their target price on PBF Energy from $50.00 to $43.00 and set an outperform rating on the stock in a research report on Monday, December 31st. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and eight have assigned a buy rating to the stock. The stock currently has an average rating of Hold and an average price target of $46.91.

Shares of NYSE PBF opened at $34.51 on Wednesday. The company has a current ratio of 1.79, a quick ratio of 0.83 and a debt-to-equity ratio of 0.60. The firm has a market cap of $4.12 billion, a price-to-earnings ratio of 30.27, a P/E/G ratio of 0.58 and a beta of 1.48. PBF Energy has a 12-month low of $28.25 and a 12-month high of $53.91.

PBF Energy (NYSE:PBF) last announced its earnings results on Wednesday, October 31st. The oil and gas company reported $1.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.03 by $0.10. The business had revenue of $7.65 billion for the quarter, compared to analysts’ expectations of $7.21 billion. PBF Energy had a return on equity of 8.17% and a net margin of 2.64%. The business’s revenue for the quarter was up 39.6% on a year-over-year basis. During the same quarter last year, the firm earned $1.44 EPS. As a group, equities research analysts expect that PBF Energy will post 2.86 EPS for the current year.

Several institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. boosted its position in shares of PBF Energy by 10.0% in the 3rd quarter. Vanguard Group Inc. now owns 12,336,119 shares of the oil and gas company’s stock worth $615,695,000 after purchasing an additional 1,121,082 shares in the last quarter. Vanguard Group Inc boosted its position in shares of PBF Energy by 10.0% in the 3rd quarter. Vanguard Group Inc now owns 12,336,119 shares of the oil and gas company’s stock worth $615,695,000 after purchasing an additional 1,121,082 shares in the last quarter. BlackRock Inc. boosted its position in shares of PBF Energy by 7.8% in the 3rd quarter. BlackRock Inc. now owns 10,385,185 shares of the oil and gas company’s stock worth $518,325,000 after purchasing an additional 755,088 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of PBF Energy by 2.8% in the 3rd quarter. Dimensional Fund Advisors LP now owns 7,753,130 shares of the oil and gas company’s stock worth $386,962,000 after purchasing an additional 210,335 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its position in shares of PBF Energy by 5.2% in the 3rd quarter. Bank of New York Mellon Corp now owns 4,213,274 shares of the oil and gas company’s stock worth $210,284,000 after purchasing an additional 209,854 shares in the last quarter. 92.98% of the stock is owned by hedge funds and other institutional investors.

PBF Energy Company Profile

PBF Energy Inc, together with its subsidiaries, engages in the refining and supply of petroleum products. The company operates through 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.

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Analyst Recommendations for PBF Energy (NYSE:PBF)

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