PBF Energy (NYSE:PBF) Price Target Raised to $74.00 at Citigroup

Key Points

• Citigroup raised PBF Energy’s price target from $65 to $74 while maintaining a neutral rating, implying roughly 2.6% upside from the previous close. The broader analyst consensus remains “Hold,” with an average target of $46.31.
• PBF Energy reported a strong quarter, posting $6.22 in EPS versus the $4.15 consensus and revenue of $11.68 billion, up 56.2% year over year.
• The company strengthened its balance sheet by reducing gross debt by more than $1 billion and declared a quarterly dividend of $0.275 per share; however, insiders have sold approximately 3.4 million shares over the past three months.

PBF Energy (NYSE:PBF - Get Free Report) had its price objective upped by investment analysts at Citigroup from $65.00 to $74.00 in a research report issued on Friday,Benzinga reports. The brokerage currently has a "neutral" rating on the oil and gas company's stock. Citigroup's price target indicates a potential upside of 2.59% from the stock's previous close.

Other analysts have also issued reports about the stock. Weiss Ratings reiterated a "sell (d-)" rating on shares of PBF Energy in a research note on Monday, May 11th. Wall Street Zen upgraded shares of PBF Energy from a "hold" rating to a "buy" rating in a research note on Wednesday, July 22nd. TD Cowen boosted their price target on PBF Energy from $39.00 to $68.00 and gave the stock a "hold" rating in a research note on Tuesday, July 21st. Scotiabank boosted their price target on PBF Energy from $28.00 to $34.00 and gave the stock a "sector perform" rating in a report on Wednesday, April 22nd. Finally, Freedom Capital raised shares of PBF Energy to a "hold" rating in a research note on Tuesday, July 7th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, nine have assigned a Hold rating and four have issued a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $46.31.

PBF Energy Stock Down 1.3%

Shares of NYSE:PBF traded down $0.97 during trading on Friday, reaching $72.13. The stock had a trading volume of 3,094,399 shares, compared to its average volume of 3,373,756. PBF Energy has a one year low of $21.24 and a one year high of $74.74. The company has a current ratio of 1.31, a quick ratio of 0.62 and a debt-to-equity ratio of 0.50. The company has a market capitalization of $8.53 billion, a P/E ratio of 19.44, a PEG ratio of 0.10 and a beta of 0.11. The firm's 50-day simple moving average is $48.57 and its 200 day simple moving average is $42.71.

PBF Energy (NYSE:PBF - Get Free Report) last issued its earnings results on Thursday, July 30th. The oil and gas company reported $6.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.15 by $2.07. The firm had revenue of $11.68 billion during the quarter, compared to analysts' expectations of $9.61 billion. PBF Energy had a net margin of 1.46% and a negative return on equity of 4.12%. The firm's revenue was up 56.2% compared to the same quarter last year. During the same quarter last year, the company posted ($1.03) earnings per share. As a group, research analysts expect that PBF Energy will post 10.94 EPS for the current fiscal year.

Insider Transactions at PBF Energy

In related news, insider Control Empresarial De Capital sold 220,000 shares of the business's stock in a transaction that occurred on Monday, July 20th. The stock was sold at an average price of $63.96, for a total value of $14,071,200.00. Following the completion of the sale, the insider owned 15,492,128 shares of the company's stock, valued at approximately $990,876,506.88. The trade was a 1.40% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In the last three months, insiders have sold 3,396,570 shares of company stock valued at $163,978,356. 5.50% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On PBF Energy

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Torren Management LLC bought a new stake in PBF Energy during the 4th quarter worth about $30,000. Los Angeles Capital Management LLC bought a new stake in shares of PBF Energy in the fourth quarter valued at about $31,000. Leonteq Securities AG acquired a new stake in PBF Energy in the 1st quarter valued at $33,000. Smartleaf Asset Management LLC raised its position in PBF Energy by 65.3% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,466 shares of the oil and gas company's stock worth $38,000 after acquiring an additional 579 shares in the last quarter. Finally, Eurizon Capital SGR S.p.A. acquired a new stake in shares of PBF Energy in the fourth quarter valued at approximately $57,000. 96.29% of the stock is currently owned by institutional investors.

Key Headlines Impacting PBF Energy

Here are the key news stories impacting PBF Energy this week:

• Positive Sentiment: Second-quarter earnings were $6.22 per share, well above the roughly $4.05–$4.15 consensus range and a significant improvement from a $1.03-per-share loss a year earlier. Revenue rose 56.2% year over year to $11.68 billion. PBF Energy Q2 Earnings Beat Estimates on Higher Refining Margins
• Positive Sentiment: Income from operations reached $1.27 billion, versus $43 million in the prior-year quarter. Management also reduced gross debt by more than $1 billion and expects approximately $1.5 billion of cash by the end of July, strengthening the balance sheet. PBF Energy Announces Second Quarter 2026 Results
• Positive Sentiment: PBF declared a quarterly dividend of $0.275 per share, payable August 28 to shareholders of record August 14, while targeting an $850 million midpoint for 2026 capital spending. Increased cash generation and lower debt support shareholder returns. Dividend Announcement
• Neutral Sentiment: Unusual options activity included purchases of 7,100 call contracts, approximately 69% above average volume, indicating speculative bullish interest but not a change to the company’s fundamentals.
• Negative Sentiment: PBF delayed planned turnaround work at three refineries. Although postponements can preserve near-term throughput, they may increase maintenance and reliability risks and weigh on future production expectations. PBF Delays Planned Turnaround Work

About PBF Energy

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.