Zacks Investment Research Upgrades PBF Energy Inc. (PBF) to “Buy”
PBF Energy Inc. (NYSE:PBF) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Saturday. The brokerage presently has a $34.00 target price on the oil and gas company’s stock. Zacks Investment Research‘s target price suggests a potential upside of 10.28% from the company’s current price.
According to Zacks, “PBF Energy Inc. operates as a petroleum refiner and supplier. The Company offers unbranded transportation fuels, heating oil, petrochemical feedstocks, lubricants and other petroleum products in the United States. Its refineries are located in Toledo, Ohio, Delaware City, Delaware and Paulsboro, New Jersey. The company sells its products in the northeast and Midwest United States, as well as in other regions of the United States and Canada. PBF Energy Inc. is based in Parsippany, New Jersey. “
Several other research analysts also recently weighed in on the stock. Piper Jaffray Companies restated a “hold” rating and set a $20.00 price target on shares of PBF Energy in a research report on Friday, July 14th. Tudor Pickering upgraded shares of PBF Energy from a “sell” rating to a “hold” rating in a research report on Friday, September 1st. ValuEngine upgraded shares of PBF Energy from a “sell” rating to a “hold” rating in a research report on Friday, September 1st. BidaskClub downgraded shares of PBF Energy from a “hold” rating to a “sell” rating in a research report on Thursday, July 27th. Finally, Scotiabank set a $24.00 price target on shares of PBF Energy and gave the stock a “buy” rating in a research report on Thursday, August 3rd. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $26.22.
PBF Energy (NYSE:PBF) opened at $30.83 on Friday. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.42 and a current ratio of 1.32. The stock has a market capitalization of $3.37 billion, a price-to-earnings ratio of 65.38, a PEG ratio of 2.45 and a beta of 1.42.
PBF Energy (NYSE:PBF) last issued its quarterly earnings data on Thursday, November 2nd. The oil and gas company reported $1.44 earnings per share for the quarter, topping analysts’ consensus estimates of $1.22 by $0.22. The business had revenue of $5.48 billion during the quarter, compared to the consensus estimate of $4.90 billion. PBF Energy had a net margin of 1.14% and a return on equity of 2.39%. The company’s revenue was up 21.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.16) earnings per share. research analysts expect that PBF Energy will post 1.26 earnings per share for the current fiscal year.
A number of hedge funds have recently added to or reduced their stakes in PBF. Nomura Asset Management Co. Ltd. boosted its position in shares of PBF Energy by 50.0% during the 1st quarter. Nomura Asset Management Co. Ltd. now owns 4,740 shares of the oil and gas company’s stock worth $105,000 after purchasing an additional 1,580 shares during the period. OLD Mutual Customised Solutions Proprietary Ltd. purchased a new position in shares of PBF Energy during the 1st quarter worth approximately $113,000. Creative Planning boosted its position in shares of PBF Energy by 92.7% during the 2nd quarter. Creative Planning now owns 5,203 shares of the oil and gas company’s stock worth $116,000 after purchasing an additional 2,503 shares during the period. Flinton Capital Management LLC purchased a new position in shares of PBF Energy during the 2nd quarter worth approximately $119,000. Finally, Huntington National Bank purchased a new position in shares of PBF Energy during the 2nd quarter worth approximately $126,000.
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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