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

PBF Energy (NYSE:PBF) had its target price boosted by UBS Group from $28.00 to $37.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm presently has a “buy” rating on the oil and gas company’s stock. UBS Group’s price target points to a potential upside of 12.15% from the company’s previous close.

Several other equities research analysts have also commented on the company. Tudor, Pickering, Holt & Co. lowered PBF Energy from a “hold” rating to a “sell” rating and set a $24.00 price target for the company. in a research note on Monday, September 15th. Bank of America upped their price target on PBF Energy from $16.00 to $21.00 and gave the stock an “underperform” rating in a research note on Wednesday, September 3rd. Tudor Pickering lowered PBF Energy from a “hold” rating to a “strong sell” rating in a research note on Monday, September 15th. Piper Sandler upped their price target on PBF Energy from $22.00 to $29.00 and gave the stock an “underweight” rating in a research note on Thursday, September 11th. Finally, Citigroup upped their price target on PBF Energy from $16.00 to $29.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 16th. One analyst has rated the stock with a Buy rating, seven have issued a Hold rating and six have assigned a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Reduce” and a consensus target price of $26.38.

PBF Energy Price Performance

PBF traded up $2.35 during trading on Tuesday, reaching $32.99. 265,975 shares of the stock were exchanged, compared to its average volume of 3,247,284. The business’s 50 day moving average price is $25.60 and its two-hundred day moving average price is $21.87. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.31 and a quick ratio of 0.55. The company has a market capitalization of $3.82 billion, a price-to-earnings ratio of -3.84 and a beta of 0.97. PBF Energy has a 1 year low of $13.61 and a 1 year high of $34.22.

PBF Energy (NYSE:PBF) last issued its quarterly earnings data on Thursday, July 31st. The oil and gas company reported ($1.03) earnings per share (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 business had revenue of $7.48 billion for the quarter, compared to the consensus estimate of $6.65 billion. During the same period in the prior year, the business earned ($0.54) earnings per share. The business’s revenue was down 14.4% on a year-over-year basis. As a group, equities research analysts anticipate that PBF Energy will post -1.12 earnings per share for the current year.

Institutional Investors Weigh In On PBF Energy

Several large investors have recently modified their holdings of PBF. MassMutual Private Wealth & Trust FSB boosted its position in shares of PBF Energy by 761.0% in the second quarter. MassMutual Private Wealth & Trust FSB now owns 1,412 shares of the oil and gas company’s stock worth $31,000 after buying an additional 1,248 shares during the period. Fifth Third Bancorp boosted its position in PBF Energy by 125.7% during the first quarter. Fifth Third Bancorp now owns 1,442 shares of the oil and gas company’s stock valued at $28,000 after purchasing an additional 803 shares during the last quarter. Allworth Financial LP boosted its position in PBF Energy by 194.3% during the first quarter. Allworth Financial LP now owns 1,651 shares of the oil and gas company’s stock valued at $32,000 after purchasing an additional 1,090 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S acquired a new stake in PBF Energy during the first quarter valued at $35,000. Finally, Neo Ivy Capital Management acquired a new stake in PBF Energy during the first quarter valued at $37,000. 96.29% of the stock is owned by institutional investors.

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.