PBF Energy (PBF) PT Raised to $53.00 at Credit Suisse Group

PBF Energy (NYSE:PBF) had its target price raised by Credit Suisse Group from $46.00 to $53.00 in a research report report published on Friday, The Fly reports. The firm currently has a neutral rating on the oil and gas company’s stock.

A number of other equities research analysts have also recently commented on the company. Citigroup increased their target price on PBF Energy from $50.00 to $55.00 and gave the company a hold rating in a report on Friday, September 7th. Goldman Sachs Group upgraded PBF Energy from a sell rating to a neutral rating in a report on Friday, September 7th. Wells Fargo & Co lowered their target price on PBF Energy from $63.00 to $59.00 and set an outperform rating on the stock in a report on Friday, August 10th. Royal Bank of Canada reiterated a hold rating and set a $46.00 target price on shares of PBF Energy in a report on Friday, August 3rd. Finally, Mizuho began coverage on PBF Energy in a report on Wednesday, August 1st. They set a buy rating and a $55.00 target price on the stock. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and seven have assigned a buy rating to the company’s stock. The stock currently has an average rating of Hold and an average price target of $44.25.

Shares of NYSE:PBF opened at $52.79 on Friday. The firm has a market cap of $5.68 billion, a price-to-earnings ratio of 45.24, a P/E/G ratio of 1.17 and a beta of 1.47. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.63 and a current ratio of 1.66. PBF Energy has a one year low of $26.36 and a one year high of $53.91.

PBF Energy (NYSE:PBF) last announced its earnings results on Thursday, August 2nd. The oil and gas company reported $1.38 EPS for the quarter, beating analysts’ consensus estimates of $1.35 by $0.03. The firm had revenue of $7.44 billion for the quarter, compared to analysts’ expectations of $6.15 billion. PBF Energy had a return on equity of 9.82% and a net margin of 3.40%. PBF Energy’s quarterly revenue was up 48.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.06) EPS. As a group, equities research analysts forecast that PBF Energy will post 2.73 earnings per share for the current year.

Several institutional investors have recently modified their holdings of PBF. Northern Trust Corp lifted its stake in shares of PBF Energy by 6.5% during the 1st quarter. Northern Trust Corp now owns 1,097,092 shares of the oil and gas company’s stock worth $37,193,000 after purchasing an additional 66,931 shares during the period. BlackRock Inc. lifted its stake in shares of PBF Energy by 3.1% during the 1st quarter. BlackRock Inc. now owns 9,583,646 shares of the oil and gas company’s stock worth $324,886,000 after purchasing an additional 289,653 shares during the period. New York State Common Retirement Fund lifted its stake in shares of PBF Energy by 5.1% during the 1st quarter. New York State Common Retirement Fund now owns 336,844 shares of the oil and gas company’s stock worth $11,419,000 after purchasing an additional 16,387 shares during the period. Great West Life Assurance Co. Can lifted its stake in shares of PBF Energy by 6.0% during the 1st quarter. Great West Life Assurance Co. Can now owns 78,934 shares of the oil and gas company’s stock worth $2,678,000 after purchasing an additional 4,443 shares during the period. Finally, Stifel Financial Corp purchased a new position in shares of PBF Energy during the 1st quarter worth $913,000. 93.38% of the stock is currently owned by institutional investors.

PBF Energy Company Profile

PBF Energy Inc, together with its subsidiaries, engages in the refining and supply of petroleum products. The company operates through 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.

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