PBF Energy (NYSE:PBF) Price Target Raised to $29.00 at Citigroup

PBF Energy (NYSE:PBF - Get Free Report) had its price target raised by Citigroup from $16.00 to $29.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm presently has a "neutral" rating on the oil and gas company's stock. Citigroup's price objective indicates a potential upside of 18.95% from the company's previous close.

Several other analysts also recently issued reports on the stock. The Goldman Sachs Group reduced their price target on shares of PBF Energy from $28.00 to $23.00 and set a "neutral" rating on the stock in a report on Thursday, March 27th. Wells Fargo & Company upped their price target on shares of PBF Energy from $21.00 to $24.00 and gave the stock an "equal weight" rating in a research report on Tuesday. UBS Group raised shares of PBF Energy from a "neutral" rating to a "buy" rating and increased their price objective for the stock from $20.00 to $26.00 in a research report on Tuesday, May 13th. Scotiabank reissued a "sector perform" rating and issued a $25.00 price objective (up previously from $16.00) on shares of PBF Energy in a research report on Friday, July 11th. Finally, Mizuho raised their price target on shares of PBF Energy from $22.00 to $23.00 and gave the company an "underperform" rating in a report on Tuesday, May 13th. Seven investment analysts have rated the stock with a sell rating, seven have given a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $25.00.

PBF Energy Trading Down 1.8%

NYSE:PBF traded down $0.44 on Wednesday, hitting $24.38. The stock had a trading volume of 3,142,496 shares, compared to its average volume of 2,743,558. The company has a quick ratio of 0.52, a current ratio of 1.29 and a debt-to-equity ratio of 0.43. The stock has a market cap of $2.82 billion, a price-to-earnings ratio of -2.68 and a beta of 0.84. The company has a fifty day moving average price of $22.21 and a two-hundred day moving average price of $22.23. PBF Energy has a 1-year low of $13.62 and a 1-year high of $42.64.

PBF Energy (NYSE:PBF - Get Free Report) last announced its earnings results on Thursday, May 1st. The oil and gas company reported ($3.09) earnings per share for the quarter, topping the consensus estimate of ($3.50) by $0.41. PBF Energy had a negative net margin of 3.30% and a negative return on equity of 15.67%. The firm had revenue of $7.07 billion for the quarter, compared to the consensus estimate of $6.27 billion. During the same period in the prior year, the firm earned $0.85 EPS. The firm's revenue for the quarter was down 18.3% on a year-over-year basis. Equities research analysts expect that PBF Energy will post -1.12 earnings per share for the current fiscal year.

Insider Buying and Selling

In other PBF Energy news, insider Control Empresarial De Capital bought 48,500 shares of the firm's stock in a transaction on Thursday, June 5th. The stock was bought at an average cost of $17.99 per share, with a total value of $872,515.00. Following the completion of the transaction, the insider directly owned 30,823,498 shares of the company's stock, valued at approximately $554,514,729.02. The trade was a 0.16% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 5.30% of the company's stock.

Hedge Funds Weigh In On PBF Energy

Several large investors have recently bought and sold shares of the stock. T. Rowe Price Investment Management Inc. increased its position in shares of PBF Energy by 170.7% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 5,728,843 shares of the oil and gas company's stock worth $109,364,000 after purchasing an additional 3,612,447 shares in the last quarter. Bank of New York Mellon Corp increased its position in shares of PBF Energy by 14.0% during the 1st 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 purchasing an additional 260,464 shares in the last quarter. American Century Companies Inc. increased its position in shares of PBF Energy by 1.7% during the 1st quarter. American Century Companies Inc. now owns 1,897,910 shares of the oil and gas company's stock worth $36,231,000 after purchasing an additional 32,285 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of PBF Energy by 12.2% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,675,273 shares of the oil and gas company's stock worth $31,981,000 after purchasing an additional 182,456 shares in the last quarter. Finally, Two Sigma Investments LP grew its holdings in PBF Energy by 12.6% during the 4th quarter. Two Sigma Investments LP now owns 1,645,584 shares of the oil and gas company's stock worth $43,690,000 after acquiring an additional 184,194 shares during the last quarter. 96.29% of the stock is currently owned by institutional investors and hedge funds.

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.