PBF Energy (NYSE:PBF) Upgraded to “Outperform” by Wolfe Research

Wolfe Research upgraded shares of PBF Energy (NYSE:PBFGet Rating) from an underperform rating to an outperform rating in a report issued on Wednesday, The Fly reports.

PBF has been the subject of a number of other reports. Cowen lifted their price objective on PBF Energy from $25.00 to $32.00 in a research report on Monday, August 1st. StockNews.com lowered PBF Energy from a strong-buy rating to a buy rating in a research report on Saturday, September 10th. Wells Fargo & Company upgraded PBF Energy from an equal weight rating to an overweight rating and set a $57.00 target price for the company in a research report on Tuesday, June 14th. Piper Sandler boosted their target price on PBF Energy from $43.00 to $45.00 and gave the stock an overweight rating in a research report on Monday. Finally, Credit Suisse Group boosted their target price on PBF Energy to $37.00 in a research report on Thursday, June 9th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of Hold and a consensus target price of $33.08.

PBF Energy Stock Performance

PBF Energy stock opened at $30.43 on Wednesday. The stock has a 50-day simple moving average of $32.02 and a 200 day simple moving average of $29.77. The company has a quick ratio of 0.64, a current ratio of 1.08 and a debt-to-equity ratio of 0.55. PBF Energy has a 12-month low of $9.61 and a 12-month high of $44.12. The stock has a market capitalization of $3.71 billion, a price-to-earnings ratio of 2.69 and a beta of 2.15.

PBF Energy (NYSE:PBFGet Rating) last announced its quarterly earnings data on Thursday, July 28th. The oil and gas company reported $10.58 EPS for the quarter, topping analysts’ consensus estimates of $7.36 by $3.22. The firm had revenue of $14.08 billion during 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 company’s revenue was up 104.1% on a year-over-year basis. During the same period last year, the company earned ($1.26) earnings per share. On average, research analysts anticipate that PBF Energy will post 19.37 earnings per share for the current fiscal year.

Insider Buying and Selling at PBF Energy

In other PBF Energy news, SVP Connor Thomas L. O sold 100,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 23rd. The stock was sold at an average price of $37.54, for a total value of $3,754,000.00. Following the sale, the senior vice president now owns 80,000 shares in the company, valued at approximately $3,003,200. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 5.60% of the company’s stock.

Institutional Investors Weigh In On PBF Energy

Several institutional investors have recently bought and sold shares of PBF. JPMorgan Chase & Co. lifted its stake in 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 acquiring an additional 1,124,878 shares in the last quarter. Rhumbline Advisers raised its stake in shares of PBF Energy by 5.6% during the 4th quarter. Rhumbline Advisers now owns 307,312 shares of the oil and gas company’s stock worth $3,986,000 after purchasing an additional 16,251 shares in the last quarter. Allianz Asset Management GmbH bought a new stake in shares of PBF Energy during the 4th quarter worth approximately $7,774,000. Charles Schwab Investment Management Inc. raised its stake in shares of PBF Energy by 2.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,396,708 shares of the oil and gas company’s stock worth $18,116,000 after purchasing an additional 29,842 shares in the last quarter. Finally, Renaissance Technologies LLC bought a new stake in shares of PBF Energy during the 4th quarter worth approximately $3,207,000. Institutional investors own 87.50% of the company’s stock.

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.

Featured Stories

The Fly logo

Analyst Recommendations for PBF Energy (NYSE:PBF)

Receive News & Ratings for PBF Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PBF Energy and related companies with MarketBeat.com's FREE daily email newsletter.