PBF Energy (NYSE:PBF) was downgraded by equities researchers at Citigroup from a “buy” rating to a “neutral” rating in a research report issued to clients and investors on Wednesday, Marketbeat reports. They currently have a $37.00 price objective on the oil and gas company’s stock. Citigroup’s target price suggests a potential downside of 3.55% from the stock’s previous close. The analysts noted that the move was a valuation call.
Several other research analysts have also recently commented on PBF. Scotiabank reaffirmed a “sector perform” rating on shares of PBF Energy in a research report on Thursday, April 12th. Scotia Howard Weill reaffirmed a “sector perform” rating on shares of PBF Energy in a research report on Wednesday, April 11th. Morgan Stanley raised their target price on PBF Energy from $37.00 to $38.00 and gave the stock a “sell” rating in a research report on Monday. Credit Suisse Group assumed coverage on PBF Energy in a research report on Monday, April 9th. They issued a “neutral” rating and a $37.00 target price for the company. Finally, ValuEngine raised PBF Energy from a “hold” rating to a “buy” rating in a research report on Friday, February 2nd. Four investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. PBF Energy presently has an average rating of “Hold” and an average target price of $37.10.
Shares of PBF stock opened at $38.36 on Wednesday. The firm has a market capitalization of $4,150.20, a P/E ratio of 33.65, a PEG ratio of 1.08 and a beta of 1.17. PBF Energy has a one year low of $18.48 and a one year high of $38.52. The company has a debt-to-equity ratio of 0.75, a current ratio of 1.57 and a quick ratio of 0.66.
PBF Energy (NYSE:PBF) last issued its earnings results on Thursday, February 15th. The oil and gas company reported ($0.04) EPS for the quarter, missing the consensus estimate of $0.21 by ($0.25). The firm had revenue of $6.54 billion during the quarter, compared to the consensus estimate of $5.23 billion. PBF Energy had a return on equity of 4.97% and a net margin of 1.91%. The firm’s revenue for the quarter was up 37.6% compared to the same quarter last year. During the same period last year, the business earned ($0.71) earnings per share. sell-side analysts predict that PBF Energy will post 3.46 earnings per share for the current fiscal year.
Institutional investors have recently added to or reduced their stakes in the business. Ffcm LLC raised its stake in PBF Energy by 421.1% during the fourth quarter. Ffcm LLC now owns 4,758 shares of the oil and gas company’s stock worth $172,000 after acquiring an additional 3,845 shares in the last quarter. Bessemer Group Inc. acquired a new position in PBF Energy during the fourth quarter worth $207,000. Ingalls & Snyder LLC acquired a new stake in shares of PBF Energy in the fourth quarter valued at $209,000. CIBC World Markets Inc. acquired a new stake in shares of PBF Energy in the fourth quarter valued at $213,000. Finally, Verition Fund Management LLC acquired a new stake in shares of PBF Energy in the fourth quarter valued at $222,000.
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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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