PBF Energy (NYSE:PBF) Stock Gets Price Target Increase from TD Cowen

PBF Energy (NYSE:PBF) had its target price increased by analysts at TD Cowen from $73.00 to $75.00 in a research note issued to investors on Thursday, Benzinga reports. The firm currently has a “hold” rating on the oil and gas company’s stock. TD Cowen’s price objective would indicate a potential downside of 6.11% from the company’s current price.

Other analysts also recently issued research reports about the stock. Citigroup increased their price objective on shares of PBF Energy from $74.00 to $91.00 and gave the company a “neutral” rating in a report on Tuesday, October 6th. The Goldman Sachs Group boosted their target price on PBF Energy from $81.00 to $91.00 and gave the stock a “neutral” rating in a report on Friday, October 9th. Wall Street Zen upgraded PBF Energy from a “buy” rating to a “strong-buy” rating in a research report on Saturday, August 1st. UBS Group reaffirmed a “buy” rating and issued a $99.00 price target on shares of PBF Energy in a report on Monday, October 5th. Finally, Morgan Stanley increased their price target on PBF Energy from $38.00 to $76.00 and gave the company an “underweight” rating in a report on Monday, September 14th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, eight have assigned a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $66.18.

PBF Energy Price Performance

Shares of PBF Energy stock traded down $1.66 during trading hours on Thursday, reaching $79.88. 156,342 shares of the company’s stock were exchanged, compared to its average volume of 3,332,701. PBF Energy has a 1 year low of $25.62 and a 1 year high of $92.46. The company has a market capitalization of $9.47 billion, a P/E ratio of 7.04, a price-to-earnings-growth ratio of 0.06 and a beta of 0.18. The business has a fifty day moving average of $76.93 and a two-hundred day moving average of $58.06. The company has a quick ratio of 0.67, a current ratio of 1.33 and a debt-to-equity ratio of 0.27.

PBF Energy (NYSE:PBF) last issued its earnings results on Thursday, July 30th. The oil and gas company reported $6.22 EPS for the quarter, beating analysts’ consensus estimates of $4.15 by $2.07. The business had revenue of $11.68 billion during the quarter, compared to analysts’ expectations of $9.61 billion. PBF Energy had a net margin of 3.94% and a return on equity of 11.27%. The company’s quarterly revenue was up 56.2% compared to the same quarter last year. During the same period in the prior year, the business earned ($1.03) earnings per share. As a group, research analysts predict that PBF Energy will post 24.88 earnings per share for the current fiscal year.

Insider Transactions at PBF Energy

In related news, insider Control Empresarial De Capital sold 490,000 shares of the business’s stock in a transaction dated Thursday, July 30th. The shares were sold at an average price of $71.26, for a total value of $34,917,400.00. Following the sale, the insider directly owned 14,992,128 shares in the company, valued at approximately $1,068,339,041.28. The trade was a 3.16% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Thomas J. Nimbley sold 468,139 shares of PBF Energy stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $69.54, for a total transaction of $32,554,386.06. Following the sale, the director owned 793,737 shares of the company’s stock, valued at approximately $55,196,470.98. This represents a 37.10% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 4,146,374 shares of company stock worth $304,686,537. 5.50% of the stock is currently owned by company insiders.

Institutional Trading of PBF Energy

Several institutional investors have recently added to or reduced their stakes in the stock. Root Financial Partners LLC acquired a new position in shares of PBF Energy in the third quarter worth $163,000. SBI Securities Co. Ltd. increased its position in shares of PBF Energy by 148.1% during the third quarter. SBI Securities Co. Ltd. now owns 1,094 shares of the oil and gas company’s stock worth $84,000 after acquiring an additional 653 shares during the period. Oakmont Investment Advisors Inc. purchased a new stake in shares of PBF Energy during the third quarter worth $780,000. Foster Victor Wealth Advisors LLC raised its stake in shares of PBF Energy by 824.7% in the third quarter. Foster Victor Wealth Advisors LLC now owns 55,484 shares of the oil and gas company’s stock valued at $4,509,000 after acquiring an additional 49,484 shares in the last quarter. Finally, Magnus Financial Group LLC acquired a new stake in shares of PBF Energy in the third quarter valued at $292,000. Institutional investors and hedge funds own 96.29% of the company’s stock.

PBF Energy Company Profile

PBF Energy Inc (NYSE:PBF) is an independent petroleum refiner and supplier of transportation fuels, heating oil, petrochemical feedstocks, lubricants, asphalt and other refined petroleum products. The company purchases crude oil and other feedstocks, processes them at its refineries, and sells the resulting products to branded and unbranded fuel retailers, distributors, wholesalers and commercial customers.

PBF operates refineries in several major U.S. refining regions, including the East Coast, Midwest, Gulf Coast and West Coast.