PBF Energy (NYSE:PBF) received a $42.00 price objective from research analysts at Morgan Stanley in a research note issued on Friday, TipRanks reports. The brokerage currently has a “buy” rating on the oil and gas company’s stock. Morgan Stanley’s price target points to a potential upside of 36.94% from the stock’s current price.
PBF has been the topic of several other reports. ValuEngine downgraded shares of PBF Energy from a “buy” rating to a “hold” rating in a research report on Thursday, February 28th. Tudor Pickering downgraded shares of PBF Energy from a “buy” rating to a “hold” rating in a research report on Friday, February 8th. TheStreet downgraded shares of PBF Energy from a “b” rating to a “c+” rating in a research report on Friday, February 15th. Raymond James cut their target price on shares of PBF Energy from $41.00 to $40.00 and set an “outperform” rating on the stock in a research report on Tuesday, April 9th. Finally, Goldman Sachs Group downgraded shares of PBF Energy from a “neutral” rating to a “sell” rating and cut their target price for the stock from $35.00 to $34.00 in a research report on Friday, January 25th. Two analysts have rated the stock with a sell rating, four have given a hold rating and eight have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $48.33.
NYSE:PBF traded down $0.69 during mid-day trading on Friday, hitting $30.67. 1,426,100 shares of the company’s stock were exchanged, compared to its average volume of 1,775,808. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.53 and a quick ratio of 0.54. PBF Energy has a fifty-two week low of $28.01 and a fifty-two week high of $53.91. The company has a market cap of $3.76 billion, a PE ratio of 9.41, a P/E/G ratio of 1.63 and a beta of 1.39.
PBF Energy (NYSE:PBF) last posted its earnings results on Wednesday, May 1st. The oil and gas company reported ($1.18) EPS for the quarter, missing the consensus estimate of ($0.95) by ($0.23). PBF Energy had a return on equity of 8.25% and a net margin of 1.23%. The business had revenue of $5.22 billion for the quarter, compared to analyst estimates of $5.29 billion. During the same quarter in the prior year, the business earned ($0.29) earnings per share. The firm’s quarterly revenue was down 10.1% on a year-over-year basis. Equities research analysts expect that PBF Energy will post 1.96 EPS for the current year.
In other news, CEO Thomas J. Nimbley purchased 25,000 shares of the company’s stock in a transaction dated Monday, March 11th. The shares were purchased at an average price of $30.03 per share, for a total transaction of $750,750.00. Following the transaction, the chief executive officer now owns 365,990 shares of the company’s stock, valued at $10,990,679.70. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 3.50% of the stock is currently owned by insiders.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc lifted its position in shares of PBF Energy by 10.0% in the 3rd quarter. Vanguard Group Inc now owns 12,336,119 shares of the oil and gas company’s stock worth $615,695,000 after purchasing an additional 1,121,082 shares during the period. BlackRock Inc. lifted its position in shares of PBF Energy by 1.0% in the 1st quarter. BlackRock Inc. now owns 10,948,546 shares of the oil and gas company’s stock worth $340,937,000 after purchasing an additional 104,616 shares during the period. Dimensional Fund Advisors LP lifted its position in shares of PBF Energy by 2.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 7,690,309 shares of the oil and gas company’s stock worth $239,479,000 after purchasing an additional 180,202 shares during the period. Bank of Montreal Can lifted its position in shares of PBF Energy by 87.9% in the 1st quarter. Bank of Montreal Can now owns 2,819,421 shares of the oil and gas company’s stock worth $87,796,000 after purchasing an additional 1,319,222 shares during the period. Finally, APG Asset Management N.V. lifted its position in shares of PBF Energy by 18.8% in the 4th quarter. APG Asset Management N.V. now owns 1,796,200 shares of the oil and gas company’s stock worth $51,333,000 after purchasing an additional 284,800 shares during the period. Hedge funds and other institutional investors own 96.87% of the company’s stock.
About PBF Energy
PBF Energy Inc, together with its subsidiaries, engages in refining and supplying petroleum products. The company operates in two segments, Refining and Logistics. It produces gasoline, ultra-low-sulfur diesel, heating oil, diesel fuel, jet fuel, lubricants, petrochemicals, and asphalt, as well as unbranded transportation fuels, petrochemical feedstocks, blending components, and other petroleum products.
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