PBF Energy (NYSE:PBF) Price Target Increased to $71.00 by Analysts at Wells Fargo & Company

PBF Energy (NYSE:PBF) had its price objective boosted by Wells Fargo & Company from $65.00 to $71.00 in a report issued on Thursday, Benzinga reports. The firm currently has an “overweight” rating on the oil and gas company’s stock. Wells Fargo & Company‘s target price points to a potential upside of 18.63% from the company’s previous close.

A number of other research firms have also recently commented on PBF. Piper Sandler raised their price target on shares of PBF Energy from $50.00 to $61.00 and gave the stock a “neutral” rating in a report on Friday, April 5th. TD Cowen raised their price target 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. Mizuho cut shares of PBF Energy from a “buy” rating to a “neutral” rating and raised their price target for the stock from $53.00 to $58.00 in a report on Friday, March 22nd. Bank of America upgraded shares of PBF Energy from a “neutral” rating to a “buy” rating and raised their price target for the stock from $52.00 to $74.00 in a report on Friday, March 15th. Finally, Citigroup assumed coverage on shares of PBF Energy in a report on Wednesday, January 24th. They set a “neutral” rating for the company. Eight research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, PBF Energy has an average rating of “Hold” and a consensus price target of $57.70.

PBF Energy Trading Up 1.3 %

NYSE PBF traded up $0.78 during mid-day trading on Thursday, reaching $59.85. 109,680 shares of the stock were exchanged, compared to its average volume of 2,260,792. PBF Energy has a one year low of $31.25 and a one year high of $62.88. The stock has a 50 day simple moving average of $52.94 and a 200-day simple moving average of $48.13. The stock has a market cap of $7.16 billion, a P/E ratio of 3.65 and a beta of 1.73. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.56 and a quick ratio of 0.81.

PBF Energy (NYSE:PBF) last posted its quarterly earnings results on Thursday, February 15th. The oil and gas company reported ($0.41) EPS for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.49). The company had revenue of $9.14 billion during the quarter, compared to analyst estimates 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 for the quarter was down 15.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $4.41 earnings per share. On average, analysts anticipate that PBF Energy will post 6.35 EPS for the current year.

Insider Activity

In related news, SVP Paul T. Davis sold 100,000 shares of the company’s stock in a transaction that occurred on Monday, March 25th. The shares were 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 in the company, valued at approximately $6,255,829.86. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other PBF Energy news, SVP Paul T. Davis sold 100,000 shares of the stock in a transaction that occurred on Monday, March 25th. The shares were sold at an average price of $56.37, for a total value of $5,637,000.00. Following the sale, the senior vice president now directly owns 110,978 shares in the company, valued at approximately $6,255,829.86. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Control Empresarial De Capital bought 770,000 shares of the stock in a transaction on Tuesday, January 16th. The stock was purchased 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 in the company, valued at $594,127,264.10. The disclosure for this purchase can be found here. In the last three months, insiders purchased 1,268,200 shares of company stock valued at $54,251,872 and sold 180,000 shares valued at $10,074,600. Insiders own 5.30% of the company’s stock.

Hedge Funds Weigh In On PBF Energy

Institutional investors have recently made changes to their positions in the stock. Banque Cantonale Vaudoise grew its holdings in shares of PBF Energy by 10.4% during the 1st quarter. Banque Cantonale Vaudoise now owns 1,830 shares of the oil and gas company’s stock valued at $105,000 after purchasing an additional 172 shares during the last quarter. GAMMA Investing LLC grew its holdings in PBF Energy by 95.3% in the 1st quarter. GAMMA Investing LLC now owns 459 shares of the oil and gas company’s stock worth $26,000 after acquiring an additional 224 shares during the last quarter. Fifth Third Bancorp grew its holdings in PBF Energy by 39.8% in the 3rd quarter. Fifth Third Bancorp now owns 808 shares of the oil and gas company’s stock worth $43,000 after acquiring an additional 230 shares during the last quarter. Quadrant Capital Group LLC grew its holdings in PBF Energy by 12.8% in the 4th quarter. Quadrant Capital Group LLC now owns 2,598 shares of the oil and gas company’s stock worth $114,000 after acquiring an additional 295 shares during the last quarter. Finally, C M Bidwell & Associates Ltd. grew its holdings in PBF Energy by 6.7% in the 3rd quarter. C M Bidwell & Associates Ltd. now owns 4,875 shares of the oil and gas company’s stock worth $261,000 after acquiring an additional 305 shares during the last quarter. Institutional investors own 96.29% of the company’s stock.

About PBF Energy

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.