Citigroup Increases PBF Energy (NYSE:PBF) Price Target to $29.00

PBF Energy (NYSE:PBF) had its price objective increased by stock analysts at Citigroup from $16.00 to $29.00 in a research note issued on Wednesday,Benzinga reports. The brokerage presently has a “neutral” rating on the oil and gas company’s stock. Citigroup’s target price points to a potential upside of 16.77% from the company’s previous close.

A number of other equities research analysts have also weighed in on the stock. Morgan Stanley lifted their price objective on shares of PBF Energy from $20.00 to $24.00 and gave the company an “equal weight” rating in a report on Wednesday. The Goldman Sachs Group dropped their target price on shares of PBF Energy from $28.00 to $23.00 and set a “neutral” rating on the stock in a research report on Thursday, March 27th. Wells Fargo & Company lifted their price objective on shares of PBF Energy from $21.00 to $24.00 and gave the company an “equal weight” rating in a research note on Tuesday. UBS Group upgraded shares of PBF Energy from a “neutral” rating to a “buy” rating and boosted their target price for the company from $20.00 to $26.00 in a research note on Tuesday, May 13th. Finally, Mizuho upped their price objective on shares of PBF Energy from $22.00 to $23.00 and gave the stock an “underperform” rating in a research report on Tuesday, May 13th. Seven investment analysts have rated the stock with a sell rating, eight have given a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $25.00.

PBF Energy Stock Performance

Shares of NYSE:PBF opened at $24.84 on Wednesday. PBF Energy has a 12 month low of $13.62 and a 12 month high of $42.64. The company has a current ratio of 1.29, a quick ratio of 0.52 and a debt-to-equity ratio of 0.43. The company has a 50-day moving average price of $22.13 and a 200-day moving average price of $22.25. The company has a market cap of $2.87 billion, a price-to-earnings ratio of -2.73 and a beta of 0.84.

PBF Energy (NYSE:PBF) last issued its quarterly earnings data on Thursday, May 1st. The oil and gas company reported ($3.09) earnings per share for the quarter, beating analysts’ consensus estimates of ($3.50) by $0.41. The company had revenue of $7.07 billion for the quarter, compared to the consensus estimate of $6.27 billion. PBF Energy had a negative net margin of 3.30% and a negative return on equity of 15.67%. The firm’s revenue for the quarter was down 18.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.85 earnings per share. As a group, equities analysts anticipate that PBF Energy will post -1.12 EPS for the current year.

Insiders Place Their Bets

In other PBF Energy news, insider Control Empresarial De Capital purchased 48,500 shares of the company’s stock in a transaction dated Thursday, June 5th. The shares were bought at an average price of $17.99 per share, with a total value of $872,515.00. Following the completion of the transaction, the insider directly owned 30,823,498 shares in the company, valued at $554,514,729.02. This trade represents a 0.16% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 5.30% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. T. Rowe Price Investment Management Inc. raised its holdings in shares of PBF Energy by 170.7% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 5,728,843 shares of the oil and gas company’s stock worth $109,364,000 after buying an additional 3,612,447 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in shares of PBF Energy by 14.0% in the 1st quarter. Bank of New York Mellon Corp now owns 2,121,727 shares of the oil and gas company’s stock valued at $40,504,000 after purchasing an additional 260,464 shares during the period. American Century Companies Inc. lifted its stake in shares of PBF Energy by 1.7% in the 1st quarter. American Century Companies Inc. now owns 1,897,910 shares of the oil and gas company’s stock valued at $36,231,000 after purchasing an additional 32,285 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in shares of PBF Energy by 12.2% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,675,273 shares of the oil and gas company’s stock valued at $31,981,000 after purchasing an additional 182,456 shares during the period. Finally, Two Sigma Investments LP lifted its stake in shares of PBF Energy by 12.6% in the 4th quarter. Two Sigma Investments LP now owns 1,645,584 shares of the oil and gas company’s stock valued at $43,690,000 after purchasing an additional 184,194 shares during the period. 96.29% of the stock is currently owned by institutional investors.

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.