Analysts Set PBF Energy Inc. (NYSE:PBF) Price Target at $56.00

Shares of PBF Energy Inc. (NYSE:PBFGet Free Report) have been assigned an average recommendation of “Hold” from the ten ratings firms that are presently covering the firm, Marketbeat Ratings reports. Six investment analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $56.00.

Several brokerages recently issued reports on PBF. StockNews.com lowered shares of PBF Energy from a “buy” rating to a “hold” rating in a report on Monday, December 18th. UBS Group cut their price target on shares of PBF Energy from $53.00 to $49.00 and set a “neutral” rating on the stock in a research note on Thursday, December 7th. Citigroup started coverage on shares of PBF Energy in a research note on Wednesday, January 24th. They set a “neutral” rating on the stock. Piper Sandler reiterated a “neutral” rating and set a $50.00 price target (down from $65.00) on shares of PBF Energy in a research note on Monday, January 8th. Finally, BMO Capital Markets initiated coverage on shares of PBF Energy in a research note on Thursday, October 5th. They set an “outperform” rating and a $60.00 price target on the stock.

Check Out Our Latest Report on PBF

Insider Activity at PBF Energy

In related news, SVP Trecia M. Canty sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, December 19th. The stock was sold at an average price of $46.69, for a total value of $466,900.00. Following the completion of the transaction, the senior vice president now directly owns 89,587 shares of the company’s stock, valued at $4,182,817.03. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other PBF Energy news, insider Control Empresarial De Capital purchased 12,200 shares of the stock in a transaction that occurred on Wednesday, January 24th. The stock was purchased at an average cost of $43.86 per share, with a total value of $535,092.00. Following the completion of the acquisition, the insider now directly owns 14,345,198 shares of the company’s stock, valued at approximately $629,180,384.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Trecia M. Canty sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, December 19th. The shares were sold at an average price of $46.69, for a total value of $466,900.00. Following the completion of the sale, the senior vice president now owns 89,587 shares of the company’s stock, valued at approximately $4,182,817.03. The disclosure for this sale can be found here. Insiders acquired 1,268,200 shares of company stock valued at $54,251,872 over the last three months. 5.30% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On PBF Energy

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Parallel Advisors LLC lifted its stake in PBF Energy by 51.4% in the second quarter. Parallel Advisors LLC now owns 695 shares of the oil and gas company’s stock valued at $28,000 after buying an additional 236 shares during the last quarter. Fifth Third Bancorp raised its stake in shares of PBF Energy by 39.8% during the third quarter. Fifth Third Bancorp now owns 808 shares of the oil and gas company’s stock worth $43,000 after purchasing an additional 230 shares during the last quarter. Fortitude Family Office LLC purchased a new stake in shares of PBF Energy during the fourth quarter worth approximately $44,000. Farther Finance Advisors LLC raised its stake in shares of PBF Energy by 473.5% during the second quarter. Farther Finance Advisors LLC now owns 1,210 shares of the oil and gas company’s stock worth $50,000 after purchasing an additional 999 shares during the last quarter. Finally, Penserra Capital Management LLC purchased a new stake in shares of PBF Energy during the third quarter worth approximately $87,000. Hedge funds and other institutional investors own 89.56% of the company’s stock.

PBF Energy Stock Down 1.5 %

Shares of PBF opened at $50.52 on Monday. The firm has a market cap of $6.17 billion, a P/E ratio of 2.36 and a beta of 1.71. PBF Energy has a 12-month low of $31.25 and a 12-month high of $56.38. The company’s 50-day moving average price is $43.87 and its 200 day moving average price is $46.47. The company has a current ratio of 1.58, a quick ratio of 0.85 and a debt-to-equity ratio of 0.19.

PBF Energy (NYSE:PBFGet Free Report) last issued its quarterly earnings data on Thursday, November 2nd. The oil and gas company reported $6.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.86 by $1.75. The firm had revenue of $10.73 billion for the quarter, compared to analyst estimates of $9.84 billion. PBF Energy had a net margin of 7.06% and a return on equity of 36.11%. On average, sell-side analysts forecast that PBF Energy will post 11.86 earnings per share for the current year.

PBF Energy Company Profile

(Get Free Report

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 from crude oil.

Further Reading

Analyst Recommendations for PBF Energy (NYSE:PBF)

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