PBF Energy Inc. (PBF) Price Target Lowered to $33.50 at Citigroup Inc.
PBF Energy Inc. (NYSE:PBF) had its target price decreased by Citigroup Inc. from $37.50 to $33.50 in a report issued on Monday. The firm currently has a “buy” rating on the oil and gas company’s stock. Citigroup Inc.’s price target points to a potential upside of 49.89% from the stock’s previous close.
A number of other brokerages have also recently weighed in on PBF. Scotiabank set a $24.00 price target on shares of PBF Energy and gave the stock a “buy” rating in a research note on Monday, June 26th. Credit Suisse Group cut shares of PBF Energy from a “neutral” rating to an “underperform” rating and set a $18.00 price target for the company. in a research note on Tuesday, June 20th. Zacks Investment Research cut shares of PBF Energy from a “hold” rating to a “sell” rating in a research note on Wednesday, July 12th. BidaskClub upgraded shares of PBF Energy from a “sell” rating to a “hold” rating in a research note on Tuesday, June 13th. Finally, Piper Jaffray Companies reiterated a “hold” rating and set a $20.00 price target on shares of PBF Energy in a research note on Friday. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. PBF Energy presently has a consensus rating of “Hold” and an average target price of $23.39.
Shares of PBF Energy (PBF) traded up 1.18% on Monday, hitting $22.35. 1,018,333 shares of the company traded hands. The stock’s 50-day moving average price is $21.39 and its 200-day moving average price is $22.95. The company has a market capitalization of $2.45 billion, a PE ratio of 13.38 and a beta of 1.39. PBF Energy has a 12 month low of $18.48 and a 12 month high of $30.98.
PBF Energy (NYSE:PBF) last issued its quarterly earnings results on Thursday, May 4th. The oil and gas company reported ($0.20) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.46) by $0.26. The firm had revenue of $4.75 billion during the quarter, compared to analysts’ expectations of $4.29 billion. PBF Energy had a net margin of 0.95% and a negative return on equity of 4.20%. PBF Energy’s quarterly revenue was up 69.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.65) EPS. On average, equities analysts predict that PBF Energy will post $0.75 earnings per share for the current year.
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In other news, CEO Thomas J. Nimbley bought 50,000 shares of PBF Energy stock in a transaction dated Tuesday, May 30th. The stock was bought at an average price of $19.69 per share, for a total transaction of $984,500.00. Following the purchase, the chief executive officer now owns 290,000 shares of the company’s stock, valued at $5,710,100. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Connor Thomas L. O bought 10,000 shares of PBF Energy stock in a transaction dated Friday, May 26th. The stock was purchased at an average price of $20.17 per share, with a total value of $201,700.00. Following the purchase, the insider now directly owns 105,135 shares in the company, valued at approximately $2,120,572.95. The disclosure for this purchase can be found here. 2.55% of the stock is currently owned by company insiders.
Hedge funds have recently added to or reduced their stakes in the company. Oregon Public Employees Retirement Fund purchased a new stake in PBF Energy during the second quarter valued at approximately $895,000. OLD National Bancorp IN purchased a new stake in PBF Energy during the second quarter valued at approximately $619,000. Creative Planning boosted its stake in PBF Energy by 92.7% in the second quarter. Creative Planning now owns 5,203 shares of the oil and gas company’s stock valued at $116,000 after buying an additional 2,503 shares during the period. NN Investment Partners Holdings N.V. purchased a new stake in PBF Energy during the second quarter valued at approximately $393,000. Finally, Capstone Asset Management Co. purchased a new stake in PBF Energy during the second quarter valued at approximately $471,000.
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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