PBF Energy (NYSE:PBF) Price Target Raised to $89.00

PBF Energy (NYSE:PBF) had its price objective upped by equities research analysts at Mizuho from $65.00 to $89.00 in a research report issued on Thursday, Benzinga reports. The brokerage presently has a “neutral” rating on the oil and gas company’s stock. Mizuho’s target price points to a potential upside of 6.60% from the stock’s previous close.

PBF has been the topic of several other reports. TD Cowen reissued a “hold” rating on shares of PBF Energy in a report on Thursday, October 1st. Evercore began coverage on PBF Energy in a report on Friday, July 17th. They issued an “in-line” rating and a $58.00 target price on the stock. Morgan Stanley boosted their price target on PBF Energy from $38.00 to $76.00 and gave the company an “underweight” rating in a research note on Monday, September 14th. UBS Group reiterated a “buy” rating and issued a $99.00 price objective on shares of PBF Energy in a research note on Monday. Finally, Freedom Capital downgraded shares of PBF Energy from a “hold” rating to a “strong sell” rating in a report on Friday, July 31st. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, eight have issued a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat, PBF Energy has a consensus rating of “Hold” and a consensus target price of $64.64.

PBF Energy Stock Up 0.7%

PBF opened at $83.49 on Thursday. The stock has a market capitalization of $9.90 billion, a price-to-earnings ratio of 7.39, a PEG ratio of 0.06 and a beta of 0.18. The firm has a 50 day moving average price of $73.18 and a 200-day moving average price of $55.45. PBF Energy has a twelve month low of $25.62 and a twelve month high of $85.75. 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 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.15 by $2.07. PBF Energy had a net margin of 3.94% and a return on equity of 11.27%. The company had revenue of $11.68 billion for the quarter, compared to analysts’ expectations of $9.61 billion. During the same quarter last year, the company posted ($1.03) earnings per share. The firm’s quarterly revenue was up 56.2% on a year-over-year basis. Equities research analysts forecast that PBF Energy will post 24.87 earnings per share for the current year.

Insider Buying and Selling at PBF Energy

In other PBF Energy news, insider Control Empresarial De Capital sold 490,000 shares of the stock in a transaction on Thursday, July 30th. The stock was sold at an average price of $71.26, for a total value of $34,917,400.00. Following the completion of the sale, the insider owned 14,992,128 shares in the company, valued at approximately $1,068,339,041.28. This represents a 3.16% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Thomas J. Nimbley sold 468,139 shares of the firm’s stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $69.54, for a total value of $32,554,386.06. Following the sale, the director directly owned 793,737 shares in the company, valued at approximately $55,196,470.98. This represents a 37.10% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 4,296,374 shares of company stock valued at $309,244,637 over the last 90 days. 5.50% of the stock is currently owned by corporate insiders.

Institutional Trading of PBF Energy

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Parallel Advisors LLC grew its stake in shares of PBF Energy by 6.8% during the 1st quarter. Parallel Advisors LLC now owns 3,781 shares of the oil and gas company’s stock worth $180,000 after purchasing an additional 242 shares during the period. PNC Financial Services Group Inc. lifted its stake in shares of PBF Energy by 3.9% in the 1st quarter. PNC Financial Services Group Inc. now owns 6,850 shares of the oil and gas company’s stock valued at $326,000 after purchasing an additional 260 shares during the period. Janney Montgomery Scott LLC boosted its holdings in PBF Energy by 5.1% during the first quarter. Janney Montgomery Scott LLC now owns 7,885 shares of the oil and gas company’s stock worth $375,000 after buying an additional 383 shares in the last quarter. Pictet Asset Management Holding SA boosted its holdings in PBF Energy by 3.2% during the first quarter. Pictet Asset Management Holding SA now owns 14,315 shares of the oil and gas company’s stock worth $682,000 after buying an additional 441 shares in the last quarter. Finally, Corient Private Wealth LLC grew its position in PBF Energy by 4.1% during the fourth quarter. Corient Private Wealth LLC now owns 12,309 shares of the oil and gas company’s stock valued at $334,000 after buying an additional 483 shares during the period. Institutional investors own 96.29% of the company’s stock.

About PBF Energy

PBF Energy Inc is an independent petroleum refiner and supplier of transportation fuels, petrochemical feedstocks, lubricants, asphalt and other petroleum products. The company sells products under the PBF and Belvieu brands and serves wholesale, commercial and retail customers, as well as other users of refined petroleum products.

PBF Energy owns and operates six refineries in the United States: facilities in California, Delaware, Louisiana, New Jersey and Ohio. Together, these refineries process a range of crude oils and produce gasoline, ultra-low-sulfur diesel, jet fuel, heating oil, petrochemical feedstocks and other refined products.