PBF Energy (PBF) Given a $54.00 Price Target at Morgan Stanley

Morgan Stanley set a $54.00 price target on PBF Energy (NYSE:PBF) in a research note published on Friday. The firm currently has a sell rating on the oil and gas company’s stock.

Several other brokerages have also weighed in on PBF. Credit Suisse Group increased their price objective on PBF Energy from $46.00 to $53.00 and gave the stock a neutral rating in a research report on Friday, October 5th. Citigroup increased their price objective on PBF Energy from $50.00 to $55.00 and gave the stock a hold rating in a research report on Friday, September 7th. Goldman Sachs Group upgraded PBF Energy from a sell rating to a neutral rating in a research report on Friday, September 7th. Wells Fargo & Co lowered their price target on PBF Energy from $63.00 to $59.00 and set an outperform rating for the company in a research report on Friday, August 10th. Finally, Royal Bank of Canada restated a hold rating and set a $46.00 price target on shares of PBF Energy in a research report on Friday, August 3rd. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and seven have issued a buy rating to the stock. The company has an average rating of Hold and an average price target of $45.58.

PBF Energy stock traded up $0.80 during mid-day trading on Friday, hitting $50.73. The company’s stock had a trading volume of 1,191,234 shares, compared to its average volume of 2,058,418. The firm has a market capitalization of $5.68 billion, a price-to-earnings ratio of 44.50, a PEG ratio of 1.17 and a beta of 1.47. PBF Energy has a 1 year low of $26.88 and a 1 year high of $53.91. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.63 and a current ratio of 1.66.

PBF Energy (NYSE:PBF) last issued its quarterly earnings data on Thursday, August 2nd. The oil and gas company reported $1.38 earnings per share for the quarter, topping the consensus estimate of $1.35 by $0.03. The company had revenue of $7.44 billion during the quarter, compared to analyst estimates of $6.15 billion. PBF Energy had a return on equity of 9.82% and a net margin of 3.40%. The firm’s revenue for the quarter was up 48.4% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.06) earnings per share. Analysts forecast that PBF Energy will post 2.73 EPS for the current year.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Canada Pension Plan Investment Board raised its stake in PBF Energy by 2.4% in the second quarter. Canada Pension Plan Investment Board now owns 344,222 shares of the oil and gas company’s stock valued at $14,433,000 after buying an additional 8,100 shares in the last quarter. Employees Retirement System of Texas acquired a new stake in PBF Energy in the second quarter valued at $3,774,000. Millennium Management LLC raised its stake in PBF Energy by 38.2% in the second quarter. Millennium Management LLC now owns 1,071,985 shares of the oil and gas company’s stock valued at $44,948,000 after buying an additional 296,586 shares in the last quarter. Bank of New York Mellon Corp raised its stake in PBF Energy by 86.0% in the second quarter. Bank of New York Mellon Corp now owns 4,003,420 shares of the oil and gas company’s stock valued at $167,862,000 after buying an additional 1,850,884 shares in the last quarter. Finally, OppenheimerFunds Inc. raised its stake in PBF Energy by 408.3% in the second quarter. OppenheimerFunds Inc. now owns 1,026,916 shares of the oil and gas company’s stock valued at $43,059,000 after buying an additional 824,871 shares in the last quarter. Institutional investors and hedge funds own 93.38% of the company’s stock.

About PBF Energy

PBF Energy Inc, together with its subsidiaries, engages in the refining and supply of petroleum products. The company operates through 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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