Morgan Stanley Increases PBF Energy (NYSE:PBF) Price Target to $50.00

PBF Energy (NYSE:PBFGet Rating) had its price target increased by equities research analysts at Morgan Stanley from $40.00 to $50.00 in a research note issued on Friday, Benzinga reports. The brokerage presently has an “equal weight” rating on the oil and gas company’s stock. Morgan Stanley’s price objective would suggest a potential upside of 18.01% from the company’s previous close.

PBF has been the subject of several other reports. Mizuho reissued a “buy” rating and issued a $50.00 price target (up from $43.00) on shares of PBF Energy in a report on Tuesday, January 10th. Piper Sandler raised their price target on PBF Energy from $53.00 to $69.00 and gave the company an “overweight” rating in a report on Wednesday, November 9th. The Goldman Sachs Group lifted their price objective on PBF Energy from $40.00 to $45.00 and gave the stock a “neutral” rating in a report on Friday, October 28th. StockNews.com cut PBF Energy from a “strong-buy” rating to a “buy” rating in a report on Thursday, December 15th. Finally, Cowen lifted their price objective on PBF Energy to $35.00 in a report on Tuesday, November 1st. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $41.69.

PBF Energy Trading Up 3.9 %

Shares of PBF stock opened at $42.37 on Friday. The business’s 50 day moving average is $40.11 and its two-hundred day moving average is $37.06. PBF Energy has a twelve month low of $14.75 and a twelve month high of $49.00. The company has a market capitalization of $5.19 billion, a P/E ratio of 2.20 and a beta of 1.92. The company has a current ratio of 1.21, a quick ratio of 0.72 and a debt-to-equity ratio of 0.31.

PBF Energy (NYSE:PBFGet Rating) last announced its earnings results on Thursday, October 27th. The oil and gas company reported $7.96 earnings per share for the quarter, beating the consensus estimate of $6.03 by $1.93. The company had revenue of $12.76 billion for the quarter, compared to the consensus estimate of $10.12 billion. PBF Energy had a return on equity of 73.75% and a net margin of 5.44%. Equities analysts forecast that PBF Energy will post 24.01 EPS for the current year.

Insider Transactions at PBF Energy

In other news, SVP Paul T. Davis sold 117,500 shares of PBF Energy stock in a transaction on Friday, November 4th. The stock was sold at an average price of $47.28, for a total value of $5,555,400.00. Following the completion of the sale, the senior vice president now owns 44,126 shares of the company’s stock, valued at $2,086,277.28. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, SVP Paul T. Davis sold 117,500 shares of PBF Energy stock in a transaction on Friday, November 4th. The stock was sold at an average price of $47.28, for a total value of $5,555,400.00. Following the completion of the sale, the senior vice president now owns 44,126 shares of the company’s stock, valued at $2,086,277.28. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider John C. Barone sold 32,500 shares of PBF Energy stock in a transaction on Tuesday, November 1st. The shares were sold at an average price of $45.97, for a total value of $1,494,025.00. Following the completion of the sale, the insider now directly owns 14,662 shares of the company’s stock, valued at approximately $674,012.14. The disclosure for this sale can be found here. Insiders own 5.60% of the company’s stock.

Institutional Investors Weigh In On PBF Energy

Institutional investors have recently added to or reduced their stakes in the company. Lazard Asset Management LLC purchased a new stake in PBF Energy during the third quarter valued at about $33,000. Exchange Traded Concepts LLC purchased a new stake in PBF Energy during the fourth quarter valued at about $33,000. Financial Management Professionals Inc. acquired a new position in shares of PBF Energy during the third quarter worth about $34,000. Ronald Blue Trust Inc. lifted its stake in shares of PBF Energy by 5,747.6% during the fourth quarter. Ronald Blue Trust Inc. now owns 1,228 shares of the oil and gas company’s stock worth $43,000 after purchasing an additional 1,207 shares in the last quarter. Finally, Nelson Van Denburg & Campbell Wealth Management Group LLC acquired a new position in shares of PBF Energy during the first quarter worth about $48,000. Hedge funds and other institutional investors own 90.69% of the company’s stock.

PBF Energy Company Profile

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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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