PBF Energy (NYSE:PBF) Price Target Cut to $61.00

PBF Energy (NYSE:PBF – Get Rating) had its price target cut by research analysts at Piper Sandler from $74.00 to $61.00 in a report issued on Thursday, The Fly reports. Piper Sandler’s price objective would indicate a potential upside of 65.00% from the stock’s current price.

PBF has been the subject of a number of other research reports. UBS Group began coverage on shares of PBF Energy in a research report on Wednesday, March 8th. They issued a “neutral” rating and a $53.00 target price for the company. Mizuho upped their price objective on PBF Energy from $50.00 to $56.00 in a research report on Friday, March 10th. TheStreet raised PBF Energy from a “c” rating to a “b-” rating in a report on Tuesday. Wells Fargo & Company cut their price target on PBF Energy from $58.00 to $51.00 in a research note on Tuesday, April 18th. Finally, StockNews.com initiated coverage on shares of PBF Energy in a research note on Thursday. They issued a “hold” rating on the stock. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, PBF Energy presently has an average rating of “Hold” and an average price target of $45.08.

PBF Energy Trading Down 2.2 %

Shares of NYSE:PBF opened at $36.97 on Thursday. PBF Energy has a 1 year low of $24.63 and a 1 year high of $49.00. The stock’s fifty day moving average price is $38.40 and its 200-day moving average price is $40.66. The company has a market cap of $4.66 billion, a P/E ratio of 1.43 and a beta of 1.95. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.28 and a quick ratio of 0.66.

PBF Energy (NYSE:PBF – Get Rating) last posted its earnings results on Friday, May 5th. The oil and gas company reported $2.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.65 by $0.11. PBF Energy had a net margin of 6.98% and a return on equity of 69.19%. The business had revenue of $9.30 billion for the quarter, compared to analysts’ expectations of $8.39 billion. During the same quarter in the prior year, the business earned $0.35 EPS. The business’s revenue for the quarter was up 1.7% compared to the same quarter last year. Sell-side analysts expect that PBF Energy will post 10.07 earnings per share for the current year.

Institutional Trading of PBF Energy

Hedge funds and other institutional investors have recently modified their holdings of the company. Lazard Asset Management LLC purchased a new position in PBF Energy in the 3rd quarter worth approximately $33,000. Exchange Traded Concepts LLC bought a new position in shares of PBF Energy during the fourth quarter worth $33,000. Tucker Asset Management LLC purchased a new position in PBF Energy during the first quarter valued at $34,000. Gladius Capital Management LP bought a new stake in PBF Energy in the 4th quarter valued at $40,000. Finally, Ronald Blue Trust Inc. lifted its stake in PBF Energy by 5,747.6% in the 4th 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. 90.69% of the stock is owned by hedge funds and other institutional investors.

About PBF Energy

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PBF Energy, Inc engages in the operation of a petroleum refinery and supplies unbranded transportation fuels, heating oil, petrochemical feed stocks, lubricants, and other petroleum products in the United States. It operates through the Refining and Logistics segments. The Refining segment involves refining crude oil and other feed stocks into petroleum products.