PBF Energy (NYSE:PBF) PT Raised to $49.00 at Wells Fargo & Company

PBF Energy (NYSE:PBFGet 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.

PBF Energy (NYSE:PBFGet Rating) last announced its earnings results on Thursday, July 28th. The oil and gas company reported $10.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $7.36 by $3.22. The firm had revenue of $14.08 billion for the quarter, compared to analyst estimates of $10.67 billion. PBF Energy had a return on equity of 55.28% and a net margin of 3.64%. The business’s revenue was up 104.1% on a year-over-year basis. During the same quarter last year, the firm posted ($1.26) EPS. On average, equities research analysts forecast that PBF Energy will post 20.38 earnings per share for the current fiscal year.

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

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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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