Mizuho Raises PBF Energy (NYSE:PBF) Price Target to $57.00

PBF Energy (NYSE:PBF) had its price target upped by analysts at Mizuho from $48.00 to $57.00 in a research note issued on Tuesday,Benzinga reports. The brokerage presently has a “neutral” rating on the oil and gas company’s stock. Mizuho’s price objective suggests a potential downside of 0.54% from the stock’s previous close.

Other equities analysts also recently issued reports about the stock. Scotiabank increased their price objective on shares of PBF Energy from $28.00 to $34.00 and gave the stock a “sector perform” rating in a research note on Wednesday, April 22nd. The Goldman Sachs Group initiated coverage on PBF Energy in a research report on Friday, April 10th. They issued a “neutral” rating and a $49.00 target price on the stock. BMO Capital Markets upped their target price on PBF Energy from $43.00 to $50.00 and gave the stock a “market perform” rating in a report on Thursday, April 2nd. Wall Street Zen cut PBF Energy from a “buy” rating to a “hold” rating in a research report on Tuesday. Finally, Citigroup raised their price target on PBF Energy from $36.00 to $43.00 and gave the company a “neutral” rating in a research note on Friday, May 1st. Two equities research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and four have given a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Reduce” and a consensus target price of $37.38.

PBF Energy Stock Performance

Shares of PBF stock opened at $57.31 on Tuesday. PBF Energy has a 12 month low of $21.24 and a 12 month high of $58.07. The company’s fifty day simple moving average is $43.01 and its 200-day simple moving average is $39.49. The firm has a market cap of $6.78 billion, a PE ratio of 15.45, a P/E/G ratio of 0.16 and a beta of 0.11. The company has a quick ratio of 0.62, a current ratio of 1.31 and a debt-to-equity ratio of 0.50.

PBF Energy (NYSE:PBF) last released its earnings results on Thursday, April 30th. The oil and gas company reported ($0.88) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.79) by ($0.09). PBF Energy had a net margin of 1.46% and a negative return on equity of 4.12%. The business had revenue of $7.90 billion during the quarter, compared to the consensus estimate of $7.32 billion. During the same period last year, the business posted ($3.53) EPS. The firm’s revenue for the quarter was up 11.9% on a year-over-year basis. Equities research analysts expect that PBF Energy will post 8.26 EPS for the current fiscal year.

Insider Activity at PBF Energy

In other news, insider Control Empresarial De Capital sold 570,000 shares of the business’s stock in a transaction dated Monday, June 29th. The shares were sold at an average price of $46.36, for a total transaction of $26,425,200.00. Following the transaction, the insider directly owned 17,142,128 shares in the company, valued at $794,709,054.08. The trade was a 3.22% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Over the last ninety days, insiders have sold 3,441,570 shares of company stock valued at $160,335,386. Company insiders own 5.50% of the company’s stock.

Institutional Investors Weigh In On PBF Energy

Several hedge funds have recently bought and sold shares of the company. Goldman Sachs Group Inc. increased its position in PBF Energy by 127.9% during the fourth quarter. Goldman Sachs Group Inc. now owns 6,327,255 shares of the oil and gas company’s stock worth $171,595,000 after buying an additional 3,550,820 shares during the last quarter. State Street Corp lifted its position in shares of PBF Energy by 1.3% in the fourth quarter. State Street Corp now owns 4,854,750 shares of the oil and gas company’s stock valued at $131,661,000 after buying an additional 60,294 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of PBF Energy by 11.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 4,366,331 shares of the oil and gas company’s stock worth $207,953,000 after acquiring an additional 454,731 shares during the period. Arrowstreet Capital Limited Partnership boosted its stake in shares of PBF Energy by 54.6% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 3,222,433 shares of the oil and gas company’s stock worth $153,452,000 after acquiring an additional 1,137,533 shares during the period. Finally, Invesco Ltd. increased its holdings in shares of PBF Energy by 147.4% during the 3rd quarter. Invesco Ltd. now owns 2,772,258 shares of the oil and gas company’s stock worth $83,639,000 after acquiring an additional 1,651,516 shares during the last quarter. 96.29% of the stock is currently owned by institutional investors and hedge funds.

PBF Energy Company Profile

PBF Energy, Inc is an independent petroleum refiner organized in 2008 and headquartered in Parsippany, New Jersey. The company began trading on the New York Stock Exchange in July 2012 under the ticker symbol PBF. Since its formation, PBF Energy has grown through acquisitions and operational optimization, positioning itself as a leading supplier of refined petroleum products in the United States.

The company owns and operates five refineries located along the U.S. Gulf Coast, East Coast and in the Pacific Northwest, with a combined crude oil processing capacity of approximately 900,000 barrels per day.