PBF Energy Inc. (PBF) Given “Buy” Rating at Scotiabank
PBF Energy Inc. (NYSE:PBF)‘s stock had its “buy” rating reaffirmed by Scotiabank in a research report issued on Friday.
Several other research analysts have also weighed in on the stock. Tudor Pickering upgraded shares of PBF Energy from a “sell” rating to a “hold” rating in a report on Friday, September 1st. Zacks Investment Research lowered shares of PBF Energy from a “hold” rating to a “sell” rating in a report on Wednesday, July 12th. BidaskClub lowered shares of PBF Energy from a “hold” rating to a “sell” rating in a report on Thursday, July 27th. Royal Bank Of Canada reiterated a “hold” rating and set a $28.00 price objective on shares of PBF Energy in a report on Wednesday, October 18th. Finally, Citigroup Inc cut their price objective on shares of PBF Energy from $33.50 to $33.00 and set a “buy” rating on the stock in a report on Monday, August 7th. Three equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. PBF Energy presently has a consensus rating of “Hold” and an average target price of $26.22.
PBF Energy (PBF) opened at $30.83 on Friday. The firm has a market cap of $3.37 billion, a PE ratio of 65.38, a PEG ratio of 2.45 and a beta of 1.42. The company has a current ratio of 1.32, a quick ratio of 0.42 and a debt-to-equity ratio of 0.91.
PBF Energy (NYSE:PBF) last released its earnings results on Thursday, November 2nd. The oil and gas company reported $1.44 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.22 by $0.22. The company had revenue of $5.48 billion for the quarter, compared to analyst estimates of $4.90 billion. PBF Energy had a net margin of 1.14% and a return on equity of 2.39%. The firm’s quarterly revenue was up 21.4% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.16) EPS. analysts forecast that PBF Energy will post 1.26 EPS for the current year.
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Hedge funds have recently added to or reduced their stakes in the company. State Street Corp grew its position in shares of PBF Energy by 48.0% during the second quarter. State Street Corp now owns 4,969,947 shares of the oil and gas company’s stock worth $110,639,000 after buying an additional 1,611,707 shares in the last quarter. Great West Life Assurance Co. Can lifted its stake in PBF Energy by 167.1% during the second quarter. Great West Life Assurance Co. Can now owns 75,197 shares of the oil and gas company’s stock worth $1,673,000 after purchasing an additional 47,041 shares during the last quarter. Cadence Capital Management LLC lifted its stake in PBF Energy by 30.4% during the second quarter. Cadence Capital Management LLC now owns 25,875 shares of the oil and gas company’s stock worth $576,000 after purchasing an additional 6,025 shares during the last quarter. UBS Group AG lifted its stake in PBF Energy by 4.6% during the first quarter. UBS Group AG now owns 84,654 shares of the oil and gas company’s stock worth $1,877,000 after purchasing an additional 3,706 shares during the last quarter. Finally, Arizona State Retirement System bought a new position in PBF Energy during the second quarter worth $1,030,000.
About PBF Energy
PBF Energy Inc (PBF Energy) is a holding company. The Company is an independent petroleum refiner and supplier of unbranded transportation fuels, heating oil, petrochemical feedstocks, lubricants and other petroleum products in the United States. The Company operates through two segments: Refining and Logistics.
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