The Goldman Sachs Group Increases PBF Energy (NYSE:PBF) Price Target to $26.00

PBF Energy (NYSE:PBF – Get Rating) had its price target upped by The Goldman Sachs Group from $23.00 to $26.00 in a research report issued to clients and investors on Friday, Benzinga reports. The brokerage currently has a “neutral” rating on the oil and gas company’s stock. The Goldman Sachs Group’s target price points to a potential downside of 6.81% from the stock’s previous close.

Other equities research analysts have also recently issued reports about the stock. Barclays boosted their price objective on shares of PBF Energy from $11.00 to $17.00 in a research report on Thursday, January 20th. Wells Fargo & Company raised shares of PBF Energy from an “underweight” rating to an “equal weight” rating and boosted their price objective for the company from $20.00 to $30.00 in a research report on Thursday. Morgan Stanley lifted their price target on shares of PBF Energy from $20.00 to $32.00 and gave the company an “equal weight” rating in a research note on Monday. Zacks Investment Research upgraded shares of PBF Energy from a “hold” rating to a “strong-buy” rating and set a $26.00 price target on the stock in a research note on Tuesday, March 29th. Finally, StockNews.com initiated coverage on shares of PBF Energy in a research note on Thursday, March 31st. They issued a “buy” rating on the stock. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, PBF Energy presently has an average rating of “Hold” and an average target price of $23.29.

Shares of NYSE PBF traded up $0.49 during midday trading on Friday, reaching $27.90. 48,092 shares of the stock were exchanged, compared to its average volume of 3,539,520. The business has a 50-day simple moving average of $22.37 and a two-hundred day simple moving average of $17.46. The company has a market capitalization of $3.36 billion, a price-to-earnings ratio of 14.71 and a beta of 2.56. PBF Energy has a 12 month low of $7.24 and a 12 month high of $30.13. The company has a debt-to-equity ratio of 1.72, a current ratio of 1.38 and a quick ratio of 0.72.

PBF Energy (NYSE:PBF – Get Rating) last announced its quarterly earnings results on Thursday, February 10th. The oil and gas company reported $1.28 earnings per share for the quarter, topping analysts’ consensus estimates of $0.69 by $0.59. The company had revenue of $8.24 billion for the quarter, compared to analysts’ expectations of $7.15 billion. PBF Energy had a net margin of 0.85% and a negative return on equity of 12.82%. The business’s quarterly revenue was up 125.5% compared to the same quarter last year. During the same period last year, the firm posted ($4.53) earnings per share. Equities research analysts expect that PBF Energy will post 3.29 earnings per share for the current fiscal year.

In other PBF Energy news, SVP Connor Thomas L. O sold 37,999 shares of the business’s stock in a transaction dated Friday, March 4th. The shares were sold at an average price of $19.82, for a total value of $753,140.18. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Control Empresarial De Capital sold 346,060 shares of the business’s stock in a transaction dated Saturday, March 19th. The shares were sold at an average price of $29.68, for a total transaction of $10,271,060.80. Following the completion of the sale, the insider now directly owns 23,217,123 shares of the company’s stock, valued at approximately $689,084,210.64. The disclosure for this sale can be found here. 5.20% of the stock is currently owned by corporate insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Virginia Retirement Systems ET AL bought a new stake in shares of PBF Energy during the 1st quarter worth approximately $860,000. Maryland State Retirement & Pension System lifted its holdings in shares of PBF Energy by 1.8% during the 1st quarter. Maryland State Retirement & Pension System now owns 38,093 shares of the oil and gas company’s stock worth $928,000 after acquiring an additional 689 shares during the period. Norges Bank bought a new stake in shares of PBF Energy during the 4th quarter worth approximately $12,380,000. Regatta Capital Group LLC bought a new stake in shares of PBF Energy during the 4th quarter worth approximately $199,000. Finally, BlackRock Inc. lifted its holdings in shares of PBF Energy by 0.8% during the 4th quarter. BlackRock Inc. now owns 17,041,582 shares of the oil and gas company’s stock worth $221,027,000 after acquiring an additional 136,795 shares during the period. 69.95% of the stock is owned by hedge funds and other institutional investors.

About PBF Energy (Get Rating)

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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