UBS Group Forecasts Strong Price Appreciation for PBF Energy (NYSE:PBF) Stock

PBF Energy (NYSE:PBF) had its price objective upped by research analysts at UBS Group from $28.00 to $37.00 in a research note issued on Tuesday, MarketBeat.com reports. The brokerage presently has a “buy” rating on the oil and gas company’s stock. UBS Group’s price target indicates a potential upside of 14.95% from the stock’s current price.

Several other research firms also recently commented on PBF. Tudor, Pickering, Holt & Co. downgraded PBF Energy from a “hold” rating to a “sell” rating and set a $24.00 price objective for the company. in a research note on Monday, September 15th. Mizuho increased their price objective on PBF Energy from $23.00 to $26.00 and gave the company an “underperform” rating in a research note on Monday, September 15th. Tudor Pickering lowered PBF Energy from a “hold” rating to a “strong sell” rating in a research note on Monday, September 15th. Wells Fargo & Company upped their target price on PBF Energy from $21.00 to $24.00 and gave the company an “equal weight” rating in a report on Tuesday, July 15th. Finally, Bank of America raised their target price on PBF Energy from $16.00 to $21.00 and gave the stock an “underperform” rating in a research note on Wednesday, September 3rd. One analyst has rated the stock with a Buy rating, seven have given a Hold rating and six have given a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Reduce” and an average price target of $26.38.

PBF Energy Stock Up 1.4%

NYSE PBF opened at $32.19 on Tuesday. The business has a fifty day moving average price of $25.84 and a 200 day moving average price of $22.00. PBF Energy has a one year low of $13.61 and a one year high of $34.22. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.55 and a current ratio of 1.31. The company has a market cap of $3.72 billion, a P/E ratio of -3.75 and a beta of 0.98.

PBF Energy (NYSE:PBF) last posted its quarterly earnings data on Thursday, July 31st. The oil and gas company reported ($1.03) EPS for the quarter, beating the consensus estimate of ($1.19) by $0.16. PBF Energy had a negative return on equity of 17.46% and a negative net margin of 3.24%.The firm had revenue of $7.48 billion during the quarter, compared to the consensus estimate of $6.65 billion. During the same period in the prior year, the company earned ($0.54) EPS. The firm’s revenue was down 14.4% compared to the same quarter last year. Research analysts anticipate that PBF Energy will post -1.12 EPS for the current fiscal year.

Institutional Trading of PBF Energy

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Osaic Holdings Inc. increased its stake in shares of PBF Energy by 231.4% in the 2nd quarter. Osaic Holdings Inc. now owns 6,399 shares of the oil and gas company’s stock worth $137,000 after acquiring an additional 4,468 shares during the last quarter. Nomura Holdings Inc. acquired a new stake in shares of PBF Energy during the 2nd quarter worth about $5,843,000. Kestra Investment Management LLC increased its position in shares of PBF Energy by 427.4% during the 2nd quarter. Kestra Investment Management LLC now owns 4,599 shares of the oil and gas company’s stock worth $100,000 after purchasing an additional 3,727 shares during the last quarter. Caxton Associates LLP increased its position in shares of PBF Energy by 308.5% during the 2nd quarter. Caxton Associates LLP now owns 282,434 shares of the oil and gas company’s stock worth $6,120,000 after purchasing an additional 213,290 shares during the last quarter. Finally, Corient Private Wealth LLC increased its position in shares of PBF Energy by 14.0% during the 2nd quarter. Corient Private Wealth LLC now owns 12,040 shares of the oil and gas company’s stock worth $261,000 after purchasing an additional 1,480 shares during the last quarter. 96.29% of the stock is owned by institutional investors and hedge funds.

About PBF Energy

PBF Energy Inc, through 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.