PBF Energy (NYSE:PBF) Given New $89.00 Price Target at Mizuho

Key Points

• Mizuho raised its PBF Energy price target to $89 from $65 while maintaining a “neutral” rating, implying approximately 6.6% upside from the stock’s $83.49 price.
• PBF Energy reported stronger-than-expected quarterly results, with EPS of $6.22 versus the $4.15 consensus estimate and revenue of $11.68 billion, up 56.2% year over year.
• Analyst sentiment remains mixed, with the stock carrying an average “Hold” rating and $64.64 average price target, while insiders have sold roughly $309.2 million worth of shares over the past 90 days.

PBF Energy (NYSE:PBF - Get Free Report) had its target price upped by stock analysts at Mizuho from $65.00 to $89.00 in a research report issued on Thursday, Benzinga reports. The firm currently has a "neutral" rating on the oil and gas company's stock. Mizuho's price target suggests a potential upside of 6.60% from the stock's current price.

A number of other research firms also recently issued reports on PBF. Morgan Stanley increased their price objective on PBF Energy from $38.00 to $76.00 and gave the stock an "underweight" rating in a report on Monday, September 14th. Zacks Research upgraded shares of PBF Energy from a "hold" rating to a "strong-buy" rating in a report on Thursday, July 23rd. The Goldman Sachs Group increased their price target on shares of PBF Energy from $71.00 to $81.00 and gave the stock a "neutral" rating in a research note on Tuesday, August 18th. Evercore initiated coverage on shares of PBF Energy in a research report on Friday, July 17th. They set an "in-line" rating and a $58.00 price target for the company. Finally, Citigroup lifted their price target on shares of PBF Energy from $74.00 to $91.00 and gave the company a "neutral" rating in a research report on Tuesday. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, eight have given a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat.com, PBF Energy currently has an average rating of "Hold" and an average price target of $64.64.

PBF Energy Stock Performance

PBF Energy stock opened at $83.49 on Thursday. The stock's 50 day simple moving average is $73.18 and its two-hundred day simple moving average is $55.45. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.67 and a current ratio of 1.33. The stock has a market cap of $9.90 billion, a price-to-earnings ratio of 7.39, a PEG ratio of 0.06 and a beta of 0.18. PBF Energy has a fifty-two week low of $25.62 and a fifty-two week high of $85.75.

PBF Energy (NYSE:PBF - Get Free Report) last posted its earnings results on Thursday, July 30th. The oil and gas company reported $6.22 earnings per share for the quarter, topping analysts' consensus estimates of $4.15 by $2.07. The firm had revenue of $11.68 billion for the quarter, compared to the consensus estimate of $9.61 billion. PBF Energy had a return on equity of 11.27% and a net margin of 3.94%.The business's revenue for the quarter was up 56.2% on a year-over-year basis. During the same quarter in the prior year, the business earned ($1.03) EPS. As a group, analysts expect that PBF Energy will post 24.87 earnings per share for the current fiscal year.

Insider Transactions at PBF Energy

In other news, insider Control Empresarial De Capital sold 120,000 shares of the company's stock in a transaction that occurred on Monday, October 5th. The shares were sold at an average price of $84.13, for a total value of $10,095,600.00. Following the transaction, the insider owned 13,496,127 shares in the company, valued at approximately $1,135,429,164.51. This represents a 0.88% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Thomas J. Nimbley sold 116,008 shares of the stock in a transaction that occurred on Wednesday, August 19th. The shares were sold at an average price of $73.73, for a total transaction of $8,553,269.84. Following the sale, the director owned 793,737 shares in the company, valued at approximately $58,522,229.01. The trade was a 12.75% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 4,296,374 shares of company stock valued at $309,244,637. 5.50% of the stock is owned by company insiders.

Hedge Funds Weigh In On PBF Energy

A number of hedge funds have recently added to or reduced their stakes in PBF. Dimensional Fund Advisors LP boosted its stake in 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 valued at $207,953,000 after purchasing an additional 454,731 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its stake in shares of PBF Energy by 54.6% in the first quarter. Arrowstreet Capital Limited Partnership now owns 3,222,433 shares of the oil and gas company's stock worth $153,452,000 after purchasing an additional 1,137,533 shares during the last quarter. Sei Investments Co. lifted its holdings in shares of PBF Energy by 41.4% during the first quarter. Sei Investments Co. now owns 364,700 shares of the oil and gas company's stock valued at $17,367,000 after purchasing an additional 106,819 shares in the last quarter. Empowered Funds LLC lifted its holdings in shares of PBF Energy by 198.0% during the first quarter. Empowered Funds LLC now owns 355,820 shares of the oil and gas company's stock valued at $16,944,000 after purchasing an additional 236,418 shares in the last quarter. Finally, Principal Financial Group Inc. boosted its position in shares of PBF Energy by 4.7% during the first quarter. Principal Financial Group Inc. now owns 186,598 shares of the oil and gas company's stock valued at $8,886,000 after buying an additional 8,361 shares during the last quarter. 96.29% of the stock is currently owned by hedge funds and other institutional investors.

PBF Energy Company Profile

PBF Energy Inc is an independent petroleum refiner and supplier of transportation fuels, petrochemical feedstocks, lubricants, asphalt and other petroleum products. The company sells products under the PBF and Belvieu brands and serves wholesale, commercial and retail customers, as well as other users of refined petroleum products.

PBF Energy owns and operates six refineries in the United States: facilities in California, Delaware, Louisiana, New Jersey and Ohio. Together, these refineries process a range of crude oils and produce gasoline, ultra-low-sulfur diesel, jet fuel, heating oil, petrochemical feedstocks and other refined products.

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