PBF Energy (NYSE:PBF – Get a rating) was upgraded by Scotiabank from an “underperforming” rating to an “sector performing” rating in a report on Monday, reports The Fly.
Several other research companies also weighed in on PBF. Zacks Investment Research upgraded PBF Energy from a “hold” rating to a “strong-buy” rating and set a price target of $26.00 on the stock in a Tuesday, March 29 research note. Morgan Stanley raised its target price on PBF Energy from $20.00 to $32.00 and gave the stock an “equal weight” rating in a research note on Monday. Cowen cut his price target on PBF Energy shares from $16.00 to $14.00 and set a “market performance” rating on the stock in a Tuesday, Dec. 28 report. Bank of America upgraded PBF Energy from a “neutral” rating to a “buy” rating and raised its target price for the stock from $15.00 to $25.00 in a Tuesday, March 8 research report. Finally, Barclays raised its price target on PBF Energy from $11.00 to $17.00 in a Thursday, January 20 research note. Four investment analysts have assigned the stock a sell rating, five have assigned a hold rating, three have assigned a buy rating and one has assigned the company a high buy rating. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $20.14.
NYSE:PBF opened at $27.32 on Monday. PBF Energy has a 12-month low of $7.24 and a 12-month high of $27.69. The company has a quick ratio of 0.72, a current ratio of 1.38 and a debt ratio of 1.72. The company’s 50-day moving average is $21.61 and its 200-day moving average is $17.09. The company has a market capitalization of $3.29 billion, a price-earnings ratio of 14.38 and a beta of 2.56.
PBF Energy (NYSE:PBF – Get Rating) last announced its quarterly results on Thursday, February 10. The oil and gas company reported EPS of $1.28 for the quarter, beating consensus analyst estimates of $0.69 from $0.59. PBF Energy had a negative return on equity of 12.82% and a net margin of 0.85%. The company posted revenue of $8.24 billion in the quarter, compared to $7.15 billion expected by analysts. During the same period of the previous year, the company had posted an EPS of ($4.53). PBF Energy revenue increased 125.5% year over year. Research analysts expect PBF Energy to post EPS of 3.29 for the current fiscal year.
In other news, SVP Connor Thomas L. O sold 37,999 shares of the company in a trade that took place on Friday, March 4. The shares were sold at an average price of $19.82, for a total transaction of $753,140.18. The transaction was disclosed in a document filed with the Securities & Exchange Commission, accessible via this hyperlink. Company insiders own 5.20% of the company’s shares.
Several institutional investors and hedge funds have recently increased or reduced their stake in PBF. JPMorgan Chase & Co. increased its stake in PBF Energy shares by 1,942.7% during the fourth quarter. JPMorgan Chase & Co. now owns 1,182,780 shares of the oil and gas company valued at $15,341,000 after buying 1,124,878 additional shares in the last quarter. Barclays PLC increased its stake in PBF Energy by 119.5% in the third quarter. Barclays PLC now owns 177,559 shares in the oil and gas company valued at $2,304,000 after acquiring a further 1,087,818 shares in the last quarter. Norges Bank bought a new position in PBF Energy in the fourth quarter, valued at around $12,380,000. Two Sigma Advisers LP increased its stake in PBF Energy by 101.3% in the third quarter. Two Sigma Advisers LP now owns 1,722,400 shares of the oil and gas company valued at $22,340,000 after acquiring an additional 866,700 shares in the last quarter. Finally, Goldman Sachs Group Inc. increased its stake in PBF Energy by 402.0% in the third quarter. Goldman Sachs Group Inc. now owns 1,029,740 shares of the oil and gas company valued at $13,356,000 after acquiring 824,626 additional shares in the last quarter. 69.95% of the shares are currently held by institutional investors and hedge funds.
About PBF Energy (Get a rating)
PBF Energy Inc, together with its subsidiaries, is engaged in the refining and supply of petroleum products. The Company operates in two segments, Refining and Logistics. It produces gasoline, ultra-low sulfur diesel, fuel oil, diesel fuel, jet fuel, lubricants, petrochemicals and asphalt, as well as unbranded transportation fuels, raw materials petrochemicals, blending components and other petroleum products.
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