PBF Energy (NYSE:PBF) PT Raised to $43.00

PBF Energy (NYSE:PBFGet Rating) had its price objective raised by Piper Sandler to $43.00 in a research report released on Monday morning, The Fly reports. The brokerage currently has an overweight rating on the oil and gas company’s stock.

Other analysts have also issued reports about the company. The Goldman Sachs Group raised their target price on PBF Energy from $23.00 to $26.00 and gave the stock a neutral rating in a report on Friday, April 22nd. JPMorgan Chase & Co. upgraded shares of PBF Energy from an underweight rating to a neutral rating and set a $34.00 target price for the company in a research note on Tuesday, May 17th. TheStreet upgraded shares of PBF Energy from a d+ rating to a c rating in a research report on Thursday, February 10th. Morgan Stanley upped their price objective on shares of PBF Energy from $20.00 to $32.00 and gave the stock an equal weight rating in a research report on Monday, April 18th. Finally, Scotiabank upgraded PBF Energy from an underperform rating to a sector perform rating and lifted their price target for the company from $15.00 to $27.00 in a research note on Monday, April 18th. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of Hold and a consensus price target of $24.65.

Shares of NYSE PBF opened at $31.35 on Monday. PBF Energy has a 52 week low of $7.24 and a 52 week high of $32.49. The company has a quick ratio of 0.69, a current ratio of 1.25 and a debt-to-equity ratio of 1.71. The firm has a market cap of $3.79 billion, a P/E ratio of 15.22 and a beta of 2.25. The business’s 50 day moving average price is $27.42 and its 200 day moving average price is $20.02.

PBF Energy (NYSE:PBFGet Rating) last released its quarterly earnings data on Thursday, April 28th. The oil and gas company reported $0.35 earnings per share for the quarter, topping analysts’ consensus estimates of $0.01 by $0.34. PBF Energy had a net margin of 0.80% and a return on equity of 2.56%. The firm had revenue of $9.14 billion for the quarter, compared to analyst estimates of $8.24 billion. During the same quarter in the prior year, the business earned ($2.61) earnings per share. The business’s quarterly revenue was up 85.6% compared to the same quarter last year. As a group, research analysts expect that PBF Energy will post 5.77 earnings per share for the current year.

In related news, insider Control Empresarial De Capital sold 30,000 shares of PBF Energy stock in a transaction that occurred on Friday, May 20th. The stock was sold at an average price of $30.80, for a total transaction of $924,000.00. Following the transaction, the insider now owns 14,287,183 shares in the company, valued at $440,045,236.40. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, SVP Connor Thomas L. O sold 37,999 shares of the company’s stock in a transaction on Friday, March 4th. The shares were sold at an average price of $19.82, for a total value of $753,140.18. The disclosure for this sale can be found here. Over the last three months, insiders sold 5,189,363 shares of company stock worth $149,741,533. Insiders own 5.60% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in PBF. Strs Ohio grew its position in PBF Energy by 8.4% in the fourth quarter. Strs Ohio now owns 61,700 shares of the oil and gas company’s stock worth $800,000 after acquiring an additional 4,800 shares during the period. Patriot Financial Group Insurance Agency LLC grew its holdings in shares of PBF Energy by 242.8% during the 3rd quarter. Patriot Financial Group Insurance Agency LLC now owns 7,370 shares of the oil and gas company’s stock worth $96,000 after purchasing an additional 5,220 shares during the period. Fox Run Management L.L.C. acquired a new stake in shares of PBF Energy during the 4th quarter worth about $291,000. Franklin Resources Inc. purchased a new stake in PBF Energy in the 3rd quarter valued at about $132,000. Finally, Assenagon Asset Management S.A. acquired a new position in PBF Energy in the fourth quarter valued at about $6,932,000. Institutional investors and hedge funds own 69.95% of the company’s stock.

PBF Energy Company Profile (Get Rating)

PBF Energy Inc, together with its subsidiaries, engages in refining and supplying petroleum products. The company operates in 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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