PBF Energy (NYSE:PBF – Get Rating) had its price target lifted by analysts at Wells Fargo & Company from $48.00 to $49.00 in a research report issued on Wednesday, MarketBeat Ratings reports. The brokerage currently has an “overweight” rating on the oil and gas company’s stock. Wells Fargo & Company‘s target price would suggest a potential upside of 53.61% from the company’s previous close.
Other research analysts have also issued research reports about the company. Piper Sandler raised their price objective on PBF Energy from $43.00 to $45.00 and gave the company an “overweight” rating in a report on Monday, September 12th. Barclays raised their price objective on PBF Energy from $25.00 to $27.00 and gave the company an “underweight” rating in a report on Tuesday, July 5th. JPMorgan Chase & Co. raised PBF Energy from a “neutral” rating to an “overweight” rating and set a $43.00 target price for the company in a research note on Wednesday. TheStreet raised PBF Energy from a “c” rating to a “b-” rating in a research note on Friday, July 29th. Finally, Wolfe Research raised PBF Energy from an “underperform” rating to an “outperform” rating and raised their target price for the stock from $36.00 to $49.00 in a research note on Wednesday, September 14th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $34.15.
PBF Energy Trading Up 7.8 %
Shares of NYSE:PBF opened at $31.90 on Wednesday. PBF Energy has a 1 year low of $10.58 and a 1 year high of $44.12. The firm has a market capitalization of $3.89 billion, a price-to-earnings ratio of 2.82 and a beta of 2.15. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.08 and a quick ratio of 0.64. The business’s 50 day moving average price is $32.22 and its 200-day moving average price is $30.25.
Insider Buying and Selling
In related news, SVP Connor Thomas L. O sold 100,000 shares of the firm’s stock in a transaction dated Tuesday, August 23rd. The stock was sold at an average price of $37.54, for a total transaction of $3,754,000.00. Following the completion of the sale, the senior vice president now directly owns 80,000 shares of the company’s stock, valued at approximately $3,003,200. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 5.60% of the company’s stock.
Hedge Funds Weigh In On PBF Energy
A number of hedge funds and other institutional investors have recently bought and sold shares of PBF. Assenagon Asset Management S.A. boosted its holdings in PBF Energy by 195.3% during the 2nd quarter. Assenagon Asset Management S.A. now owns 2,756,230 shares of the oil and gas company’s stock valued at $79,986,000 after acquiring an additional 1,822,773 shares during the period. Millennium Management LLC boosted its holdings in PBF Energy by 388.2% during the 2nd quarter. Millennium Management LLC now owns 1,989,509 shares of the oil and gas company’s stock valued at $57,736,000 after acquiring an additional 1,581,991 shares during the period. 140 Summer Partners LP purchased a new position in PBF Energy during the 2nd quarter valued at about $45,031,000. PointState Capital LP purchased a new position in PBF Energy during the 2nd quarter valued at about $36,372,000. Finally, JPMorgan Chase & Co. boosted its stake in shares of PBF Energy by 1,942.7% in the 4th quarter. JPMorgan Chase & Co. now owns 1,182,780 shares of the oil and gas company’s stock valued at $15,341,000 after buying an additional 1,124,878 shares during the period. 87.50% of the stock is currently owned by hedge funds and other institutional investors.
About PBF Energy
PBF Energy Inc, together with 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.
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