Mizuho Forecasts Strong Price Appreciation for PBF Energy (NYSE:PBF) Stock

Key Points

• Mizuho has raised its price target for PBF Energy from $23.00 to $26.00, indicating a potential downside of 6.73% from the current stock price, while maintaining an "underperform" rating.
• Several analysts have recently increased their price targets for PBF, with Citigroup setting the highest at $29.00, though the overall consensus remains "Reduce" with a target price of $25.54.
• PBF Energy's stock traded at $27.88 recently, with a market cap of $3.23 billion and a negative earnings per share of ($1.03) for the last quarter, despite beating consensus estimates.

PBF Energy (NYSE:PBF - Get Free Report) had its price objective boosted by equities researchers at Mizuho from $23.00 to $26.00 in a research note issued on Monday,Benzinga reports. The firm presently has an "underperform" rating on the oil and gas company's stock. Mizuho's price objective suggests a potential downside of 6.73% from the stock's current price.

Several other equities analysts also recently commented on PBF. Morgan Stanley upped their price objective on PBF Energy from $20.00 to $24.00 and gave the company an "equal weight" rating in a research note on Wednesday, July 16th. Wells Fargo & Company increased their target price on PBF Energy from $21.00 to $24.00 and gave the stock an "equal weight" rating in a research report on Tuesday, July 15th. Bank of America increased their target price on PBF Energy from $16.00 to $21.00 and gave the stock an "underperform" rating in a research report on Wednesday, September 3rd. Citigroup increased their price objective on PBF Energy from $16.00 to $29.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 16th. Finally, Tudor, Pickering, Holt & Co. downgraded PBF Energy from a "hold" rating to a "sell" rating and set a $24.00 price objective on the stock. in a research report on Monday. One analyst has rated the stock with a Buy rating, seven have issued a Hold rating and five have given a Sell rating to the company's stock. Based on data from MarketBeat.com, PBF Energy presently has a consensus rating of "Reduce" and a consensus target price of $25.54.

PBF Energy Stock Performance

Shares of PBF stock traded up $0.43 during trading on Monday, hitting $27.88. The company's stock had a trading volume of 1,137,314 shares, compared to its average volume of 3,224,981. The company has a market cap of $3.23 billion, a PE ratio of -3.24 and a beta of 0.97. The company has a current ratio of 1.31, a quick ratio of 0.55 and a debt-to-equity ratio of 0.46. The business has a fifty day moving average of $25.18 and a 200-day moving average of $21.47. PBF Energy has a 52 week low of $13.61 and a 52 week high of $34.31.

PBF Energy (NYSE:PBF - Get Free Report) last released its earnings results on Thursday, July 31st. The oil and gas company reported ($1.03) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.19) by $0.16. PBF Energy had a negative return on equity of 17.46% and a negative net margin of 3.24%.The company had revenue of $7.48 billion during the quarter, compared to analyst estimates of $6.65 billion. During the same period in the prior year, the company posted ($0.54) earnings per share. PBF Energy's quarterly revenue was down 14.4% on a year-over-year basis. As a group, research analysts anticipate that PBF Energy will post -1.12 earnings per share for the current year.

Institutional Trading of PBF Energy

Institutional investors and hedge funds have recently bought and sold shares of the stock. Bank of New York Mellon Corp lifted its holdings in PBF Energy by 14.0% in the first quarter. Bank of New York Mellon Corp now owns 2,121,727 shares of the oil and gas company's stock worth $40,504,000 after buying an additional 260,464 shares during the period. M&T Bank Corp bought a new stake in shares of PBF Energy during the first quarter valued at approximately $300,000. Nuveen Asset Management LLC increased its position in shares of PBF Energy by 94.7% during the fourth quarter. Nuveen Asset Management LLC now owns 568,901 shares of the oil and gas company's stock valued at $15,104,000 after acquiring an additional 276,672 shares in the last quarter. GF Fund Management CO. LTD. bought a new stake in PBF Energy in the 4th quarter worth approximately $803,000. Finally, Pekin Hardy Strauss Inc. bought a new stake in PBF Energy in the 1st quarter worth approximately $191,000. 96.29% of the stock is currently owned by hedge funds and other institutional investors.

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.

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