PBF Energy Inc. (NYSE:PBF) PT Lowered to $33.00
PBF Energy Inc. (NYSE:PBF) had its target price reduced by equities research analysts at Citigroup Inc. from $33.50 to $33.00 in a research note issued to investors on Monday. The firm currently has a “buy” rating on the oil and gas company’s stock. Citigroup Inc.’s price objective would indicate a potential upside of 42.12% from the stock’s current price.
Several other brokerages also recently commented on PBF. BidaskClub upgraded PBF Energy from a “sell” rating to a “hold” rating in a research note on Friday. Scotiabank set a $24.00 target price on PBF Energy and gave the stock a “buy” rating in a research note on Thursday. Zacks Investment Research upgraded PBF Energy from a “sell” rating to a “hold” rating in a research note on Friday, July 28th. Wolfe Research downgraded PBF Energy from an “outperform” rating to a “market perform” rating in a research note on Tuesday, July 25th. Finally, Piper Jaffray Companies reiterated a “hold” rating and set a $20.00 target price on shares of PBF Energy in a research note on Friday, July 14th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $23.33.
Shares of PBF Energy (PBF) traded down 0.77% on Monday, hitting $23.22. The stock had a trading volume of 2,166,879 shares. PBF Energy has a 52 week low of $18.48 and a 52 week high of $30.98. The company has a market cap of $2.55 billion, a PE ratio of 13.90 and a beta of 1.40. The stock’s 50-day moving average price is $22.07 and its 200 day moving average price is $22.22.
PBF Energy (NYSE:PBF) last posted its quarterly earnings results on Thursday, August 3rd. The oil and gas company reported ($0.06) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.03 by $0.09. The company had revenue of $5.02 billion during the quarter, compared to the consensus estimate of $4.76 billion. PBF Energy had a negative net margin of 0.23% and a negative return on equity of 4.98%. During the same quarter in the prior year, the business earned $0.14 earnings per share. On average, analysts predict that PBF Energy will post $0.37 EPS for the current year.
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In other news, insider Connor Thomas L. O purchased 10,000 shares of the company’s stock in a transaction that occurred on Friday, May 26th. The stock was acquired at an average cost of $20.17 per share, with a total value of $201,700.00. Following the acquisition, the insider now owns 105,135 shares in the company, valued at approximately $2,120,572.95. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Thomas J. Nimbley purchased 50,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 30th. The shares were purchased at an average cost of $19.69 per share, with a total value of $984,500.00. Following the completion of the acquisition, the chief executive officer now owns 290,000 shares in the company, valued at approximately $5,710,100. The disclosure for this purchase can be found here. Company insiders own 2.55% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the company. Nomura Asset Management Co. Ltd. boosted its stake in PBF Energy by 50.0% in the first quarter. Nomura Asset Management Co. Ltd. now owns 4,740 shares of the oil and gas company’s stock valued at $105,000 after buying an additional 1,580 shares during the last quarter. OLD Mutual Customised Solutions Proprietary Ltd. purchased a new stake in PBF Energy during the first quarter valued at $113,000. 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 last quarter. Huntington National Bank purchased a new stake in PBF Energy during the second quarter valued at $126,000. Finally, Sei Investments Co. boosted its stake in PBF Energy by 391.7% in the second quarter. Sei Investments Co. now owns 6,043 shares of the oil and gas company’s stock valued at $134,000 after buying an additional 4,814 shares during the last quarter.
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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