PBF Energy (NYSE:PBF) Stock Rating Upgraded by Tudor Pickering

PBF Energy (NYSE:PBF) was upgraded by equities researchers at Tudor Pickering from a “hold” rating to a “buy” rating in a research note issued to investors on Monday, MarketBeat reports. The firm presently has a $40.00 target price on the oil and gas company’s stock. Tudor Pickering’s target price suggests a potential upside of 25.94% from the stock’s current price.

Other equities analysts have also issued research reports about the company. Goldman Sachs Group raised PBF Energy from a “sell” rating to a “neutral” rating and set a $27.00 target price on the stock in a research note on Monday, August 5th. Raymond James restated an “outperform” rating and set a $39.00 target price (up from $34.00) on shares of PBF Energy in a research report on Friday, November 1st. Wells Fargo & Co upped their price target on PBF Energy from $39.00 to $41.00 and gave the company an “outperform” rating in a research note on Wednesday, September 25th. ValuEngine cut PBF Energy from a “buy” rating to a “hold” rating in a research note on Monday, November 4th. Finally, Cowen upgraded shares of PBF Energy from a “market perform” rating to an “outperform” rating and increased their price target for the company from $30.00 to $42.00 in a research report on Monday, October 21st. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and nine have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $39.70.

Shares of PBF Energy stock opened at $31.76 on Monday. The firm has a fifty day moving average of $31.75 and a two-hundred day moving average of $27.63. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.64 and a current ratio of 1.56. The stock has a market capitalization of $3.75 billion, a price-to-earnings ratio of 9.74, a PEG ratio of 5.76 and a beta of 1.61. PBF Energy has a 52 week low of $21.09 and a 52 week high of $37.03.

PBF Energy (NYSE:PBF) last posted its quarterly earnings results on Thursday, October 31st. The oil and gas company reported $0.66 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.59 by $0.07. PBF Energy had a positive return on equity of 4.77% and a negative net margin of 0.36%. The business had revenue of $6.43 billion for the quarter, compared to analyst estimates of $6.29 billion. During the same period last year, the company earned $1.13 EPS. The firm’s revenue was down 15.9% on a year-over-year basis. As a group, research analysts forecast that PBF Energy will post 0.79 EPS for the current fiscal year.

In other PBF Energy news, insider Carso S.A. De C.V. Inversora bought 200,155 shares of the firm’s stock in a transaction on Friday, November 8th. The stock was purchased at an average cost of $32.68 per share, with a total value of $6,541,065.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Over the last quarter, insiders have acquired 1,384,806 shares of company stock worth $39,191,395. Corporate insiders own 3.50% of the company’s stock.

A number of hedge funds have recently made changes to their positions in PBF. FinTrust Capital Advisors LLC acquired a new position in shares of PBF Energy in the second quarter valued at approximately $27,000. Coastal Investment Advisors Inc. lifted its position in PBF Energy by 517.5% in the 2nd quarter. Coastal Investment Advisors Inc. now owns 1,235 shares of the oil and gas company’s stock valued at $38,000 after acquiring an additional 1,035 shares in the last quarter. Northwest Investment Counselors LLC acquired a new position in PBF Energy in the 3rd quarter worth $52,000. NewSquare Capital LLC acquired a new position in PBF Energy in the 2nd quarter worth $90,000. Finally, Advisor Group Inc. increased its holdings in PBF Energy by 58.2% during the 2nd quarter. Advisor Group Inc. now owns 2,932 shares of the oil and gas company’s stock worth $92,000 after purchasing an additional 1,079 shares in the last quarter. Hedge funds and other institutional investors own 80.61% of the company’s stock.

About PBF Energy

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

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Analyst Recommendations for PBF Energy (NYSE:PBF)

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