PBF Energy (NYSE:PBF) Trading 6.4% Higher Following Analyst Upgrade

Shares of PBF Energy Inc. (NYSE:PBF) shot up 6.4% during trading on Thursday after The Goldman Sachs Group raised their price target on the stock from $12.00 to $14.00. The Goldman Sachs Group currently has a neutral rating on the stock. PBF Energy traded as high as $15.74 and last traded at $15.72. 71,046 shares were traded during trading, a decline of 98% from the average session volume of 4,663,094 shares. The stock had previously closed at $14.78.

Several other analysts also recently issued reports on PBF. Barclays lifted their price target on shares of PBF Energy from $9.00 to $11.00 and gave the company an “underweight” rating in a research report on Friday, October 8th. Credit Suisse Group cut PBF Energy from a “neutral” rating to an “underperform” rating and dropped their price objective for the company from $17.00 to $9.00 in a research note on Tuesday, July 27th. Piper Sandler dropped their price objective on PBF Energy from $16.00 to $13.00 and set a “neutral” rating on the stock in a research note on Friday, July 23rd. They noted that the move was a valuation call. Morgan Stanley began coverage on PBF Energy in a research note on Tuesday, September 7th. They set an “equal weight” rating and a $12.00 price objective on the stock. Finally, Wolfe Research cut PBF Energy from a “peer perform” rating to an “underperform” rating and set a $10.00 target price on the stock. in a research note on Wednesday, July 14th. Five research analysts have rated the stock with a sell rating, seven have given a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, PBF Energy has a consensus rating of “Hold” and a consensus price target of $12.20.

A number of institutional investors have recently made changes to their positions in PBF. Advisory Services Network LLC bought a new stake in PBF Energy in the 2nd quarter valued at about $31,000. Patriot Financial Group Insurance Agency LLC bought a new stake in PBF Energy in the 2nd quarter valued at about $33,000. regents capital Ltd bought a new stake in PBF Energy in the 1st quarter valued at about $34,000. Captrust Financial Advisors raised its stake in PBF Energy by 86.5% in the 1st quarter. Captrust Financial Advisors now owns 3,833 shares of the oil and gas company’s stock valued at $54,000 after acquiring an additional 1,778 shares during the period. Finally, FMR LLC raised its stake in PBF Energy by 136.7% in the 2nd quarter. FMR LLC now owns 4,861 shares of the oil and gas company’s stock valued at $74,000 after acquiring an additional 2,807 shares during the period. Institutional investors and hedge funds own 68.47% of the company’s stock.

The company has a current ratio of 1.40, a quick ratio of 0.70 and a debt-to-equity ratio of 2.09. The firm has a market cap of $1.89 billion, a PE ratio of -2.65 and a beta of 2.98. The stock has a fifty day simple moving average of $10.80 and a two-hundred day simple moving average of $13.01.

PBF Energy (NYSE:PBF) last posted its earnings results on Thursday, July 29th. The oil and gas company reported ($1.26) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($1.03) by ($0.23). The company had revenue of $6.90 billion for the quarter, compared to analysts’ expectations of $6 billion. PBF Energy had a negative net margin of 3.70% and a negative return on equity of 59.77%. As a group, sell-side analysts predict that PBF Energy Inc. will post -5.15 earnings per share for the current fiscal year.

About PBF Energy (NYSE:PBF)

PBF Energy, Inc engages in the operation of a petroleum refiner and supplies unbranded transportation fuels, heating oil, petrochemical feed stocks, lubricants, and other petroleum products in the United States. It operates through the following segments: Refining and Logistics. The Refining segment refines crude oil and other feed stocks into petroleum products.

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