Wells Fargo & Company Raises PBF Energy (NYSE:PBF) Price Target to $71.00

PBF Energy (NYSE:PBF) had its price objective increased by analysts at Wells Fargo & Company from $65.00 to $71.00 in a research note issued on Thursday, Benzinga reports. The brokerage currently has an “overweight” rating on the oil and gas company’s stock. Wells Fargo & Company‘s price objective would suggest a potential upside of 18.91% from the stock’s previous close.

Other research analysts have also issued reports about the stock. Citigroup assumed coverage on shares of PBF Energy in a report on Wednesday, January 24th. They set a “neutral” rating on the stock. TD Cowen increased their price objective on shares of PBF Energy from $35.00 to $41.00 and gave the stock a “market perform” rating in a report on Friday, February 16th. Bank of America upgraded shares of PBF Energy from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $52.00 to $74.00 in a report on Friday, March 15th. StockNews.com lowered shares of PBF Energy from a “buy” rating to a “hold” rating in a report on Monday, December 18th. Finally, Mizuho lowered shares of PBF Energy from a “buy” rating to a “neutral” rating and raised their price target for the company from $53.00 to $58.00 in a report on Friday, March 22nd. Nine research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, PBF Energy presently has an average rating of “Hold” and a consensus target price of $57.55.

PBF Energy Price Performance

NYSE:PBF opened at $59.71 on Thursday. PBF Energy has a 12-month low of $31.25 and a 12-month high of $62.88. The company’s 50-day moving average is $53.35 and its two-hundred day moving average is $48.25. The company has a current ratio of 1.56, a quick ratio of 0.81 and a debt-to-equity ratio of 0.19. The firm has a market cap of $7.14 billion, a price-to-earnings ratio of 3.63 and a beta of 1.73.

PBF Energy (NYSE:PBF) last announced its quarterly earnings data on Thursday, February 15th. The oil and gas company reported ($0.41) earnings per share for the quarter, missing the consensus estimate of $0.08 by ($0.49). The company had revenue of $9.14 billion for the quarter, compared to analysts’ expectations of $8.65 billion. PBF Energy had a return on equity of 23.69% and a net margin of 5.59%. The company’s revenue was down 15.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $4.41 earnings per share. Research analysts expect that PBF Energy will post 6.1 EPS for the current year.

Insider Activity

In other news, insider Control Empresarial De Capital acquired 770,000 shares of the company’s stock in a transaction dated Tuesday, January 16th. The shares were bought at an average price of $42.95 per share, for a total transaction of $33,071,500.00. Following the completion of the purchase, the insider now directly owns 13,832,998 shares of the company’s stock, valued at approximately $594,127,264.10. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, insider Control Empresarial De Capital acquired 770,000 shares of the company’s stock in a transaction dated Tuesday, January 16th. The shares were bought at an average price of $42.95 per share, for a total transaction of $33,071,500.00. Following the completion of the purchase, the insider now directly owns 13,832,998 shares of the company’s stock, valued at approximately $594,127,264.10. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP Paul T. Davis sold 100,000 shares of the firm’s stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of $56.37, for a total transaction of $5,637,000.00. Following the sale, the senior vice president now directly owns 110,978 shares of the company’s stock, valued at approximately $6,255,829.86. The disclosure for this sale can be found here. Insiders have sold 180,000 shares of company stock worth $10,074,600 over the last 90 days. Company insiders own 5.30% of the company’s stock.

Institutional Trading of PBF Energy

Hedge funds have recently made changes to their positions in the stock. GAMMA Investing LLC grew its position in shares of PBF Energy by 95.3% during the first quarter. GAMMA Investing LLC now owns 459 shares of the oil and gas company’s stock worth $26,000 after buying an additional 224 shares in the last quarter. Rise Advisors LLC acquired a new position in PBF Energy in the first quarter worth $27,000. Creekmur Asset Management LLC acquired a new position in PBF Energy in the fourth quarter worth $29,000. Fifth Third Bancorp boosted its holdings in PBF Energy by 39.8% in the third quarter. Fifth Third Bancorp now owns 808 shares of the oil and gas company’s stock worth $43,000 after purchasing an additional 230 shares during the period. Finally, Fortitude Family Office LLC acquired a new position in PBF Energy in the fourth quarter worth $44,000. Institutional investors and hedge funds own 96.29% of the company’s stock.

PBF Energy Company Profile

PBF Energy Inc, through 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 from crude oil.