Analysts Set PBF Energy Inc (PBF) PT at $31.00

PBF Energy Inc (NYSE:PBF) has been given a consensus rating of “Hold” by the nineteen research firms that are presently covering the stock, MarketBeat Ratings reports. Five research analysts have rated the stock with a sell rating, seven have issued a hold rating, five have issued a buy rating and one has issued a strong buy rating on the company. The average 1 year price objective among analysts that have covered the stock in the last year is $31.00.

PBF has been the subject of several recent analyst reports. Zacks Investment Research upgraded shares of PBF Energy from a “hold” rating to a “buy” rating and set a $35.00 target price for the company in a report on Friday, November 10th. Barclays upgraded shares of PBF Energy from an “underweight” rating to an “overweight” rating and raised their target price for the stock from $28.00 to $39.00 in a report on Tuesday, November 14th. Goldman Sachs Group lowered shares of PBF Energy from a “neutral” rating to a “sell” rating in a research report on Tuesday, November 28th. Scotiabank reissued a “buy” rating and issued a $40.00 price target on shares of PBF Energy in a research report on Thursday, December 21st. Finally, Cowen reissued a “buy” rating and issued a $30.00 price target on shares of PBF Energy in a research report on Tuesday, October 17th.

Shares of PBF Energy (PBF) traded down $0.31 on Friday, hitting $33.60. 1,660,300 shares of the company’s stock traded hands, compared to its average volume of 2,207,900. PBF Energy has a one year low of $18.48 and a one year high of $37.01. The firm has a market capitalization of $3,697.21, a PE ratio of 16.08, a price-to-earnings-growth ratio of 1.04 and a beta of 1.45. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.50 and a current ratio of 1.50.

PBF Energy (NYSE:PBF) last announced its earnings results on Thursday, November 2nd. The oil and gas company reported $1.44 EPS for the quarter, topping the consensus estimate of $1.22 by $0.22. PBF Energy had a net margin of 1.14% and a return on equity of 2.35%. The company had revenue of $5.48 billion during the quarter, compared to analysts’ expectations of $4.90 billion. During the same period last year, the company posted ($0.16) earnings per share. The business’s revenue for the quarter was up 21.4% on a year-over-year basis. sell-side analysts forecast that PBF Energy will post 1.36 EPS for the current year.

Hedge funds and other institutional investors have recently bought and sold shares of the company. State Street Corp lifted its position in shares of PBF Energy by 48.0% in the second quarter. State Street Corp now owns 4,969,947 shares of the oil and gas company’s stock worth $110,639,000 after purchasing an additional 1,611,707 shares in the last quarter. Cornerstone Capital Management Holdings LLC. bought a new position in PBF Energy during the third quarter valued at approximately $838,000. Northern Trust Corp raised its position in PBF Energy by 63.2% during the second quarter. Northern Trust Corp now owns 998,936 shares of the oil and gas company’s stock valued at $22,237,000 after acquiring an additional 386,930 shares in the last quarter. Nationwide Fund Advisors raised its position in PBF Energy by 339.3% during the second quarter. Nationwide Fund Advisors now owns 210,194 shares of the oil and gas company’s stock valued at $4,679,000 after acquiring an additional 162,344 shares in the last quarter. Finally, Balyasny Asset Management LLC raised its position in PBF Energy by 119.0% during the second quarter. Balyasny Asset Management LLC now owns 88,814 shares of the oil and gas company’s stock valued at $1,977,000 after acquiring an additional 48,251 shares in the last quarter.

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About PBF Energy

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.

Analyst Recommendations for PBF Energy (NYSE:PBF)

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