PBF Energy Price Target Lowered to $24.00 at Morgan Stanley (PBF)
Morgan Stanley dropped their price objective on shares of PBF Energy (NYSE:PBF) from $26.00 to $24.00 in a research note issued on Tuesday, American Banking News reports. The firm currently has an “equal weight” rating on the stock. Morgan Stanley’s target price would indicate a potential upside of 8.11% from the company’s current price.
In other PBF Energy news, Director Dennis Houston acquired 10,000 shares of the stock on the open market in a transaction that occurred on Thursday, September 19th. The stock was purchased at an average price of $22.66 per share, with a total value of $226,600.00. Following the completion of the acquisition, the director now directly owns 19,444 shares of the company’s stock, valued at approximately $440,601. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
PBF Energy (NYSE:PBF) traded down 1.11% during mid-day trading on Tuesday, hitting $22.20. The stock had a trading volume of 646,834 shares. PBF Energy has a 52 week low of $20.15 and a 52 week high of $42.50. The stock has a 50-day moving average of $22.33 and a 200-day moving average of $27.14. The company’s market cap is $878.7 million.
PBF Energy (NYSE:PBF) last posted its quarterly earnings results on Thursday, August 1st. The company reported $0.73 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.79 by $0.06. The company had revenue of $4.58 billion for the quarter, compared to the consensus estimate of $4.56 million. During the same quarter last year, the company posted $3.45 earnings per share. PBF Energy’s revenue was down 7.9% compared to the same quarter last year. Analysts expect that PBF Energy will post $1.56 EPS for the current fiscal year.
Several other analysts have also recently commented on the stock. Analysts at Credit Suisse initiated coverage on shares of PBF Energy (NYSE:PBF) in a research note to investors on Monday, September 23rd. They set a “neutral” rating on the stock. Separately, analysts at Raymond James cut their price target on shares of PBF Energy (NYSE:PBF) from $29.00 to $27.00 in a research note to investors on Monday, September 9th. Finally, analysts at Raymond James cut their price target on shares of PBF Energy (NYSE:PBF) from $39.00 to $29.00 in a research note to investors on Thursday, July 18th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the company. PBF Energy has a consensus rating of “Hold” and a consensus target price of $35.53.
PBF Energy Inc (NYSE:PBF) is an independent petroleum refiners and suppliers of unbranded transportation fuels, heating oils, petrochemical feedstocks, lubricants and other petroleum products in the United States.
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