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

PBF Energy (NYSE:PBF - Get Free Report) had its price objective hoisted by Citigroup from $16.00 to $29.00 in a note issued to investors on Wednesday,Benzinga reports. The firm presently has a "neutral" rating on the oil and gas company's stock. Citigroup's target price suggests a potential upside of 16.01% from the company's current price.

Several other brokerages have also recently issued reports on PBF. Mizuho raised their price objective on PBF Energy from $22.00 to $23.00 and gave the stock an "underperform" rating in a research note on Tuesday, May 13th. Morgan Stanley lifted their price target on PBF Energy from $20.00 to $24.00 and gave the stock an "equal weight" rating in a research note on Wednesday. Piper Sandler lowered their price objective on PBF Energy from $23.00 to $20.00 and set an "underweight" rating on the stock in a research note on Friday, May 2nd. Wells Fargo & Company upped their price target on PBF Energy from $21.00 to $24.00 and gave the company an "equal weight" rating in a research note on Tuesday. Finally, Scotiabank reiterated a "sector perform" rating and issued a $25.00 price objective (up previously from $16.00) on shares of PBF Energy in a report on Friday, July 11th. Seven analysts have rated the stock with a sell rating, eight have issued a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $25.00.

PBF Energy Stock Down 7.0%

Shares of PBF traded down $1.89 during midday trading on Wednesday, reaching $25.00. 2,657,773 shares of the stock were exchanged, compared to its average volume of 2,736,967. PBF Energy has a 52 week low of $13.62 and a 52 week high of $42.64. The company has a current ratio of 1.29, a quick ratio of 0.52 and a debt-to-equity ratio of 0.43. The company's 50 day moving average is $22.02 and its two-hundred day moving average is $22.25. The company has a market capitalization of $2.89 billion, a P/E ratio of -2.75 and a beta of 0.84.

PBF Energy (NYSE:PBF - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The oil and gas company reported ($3.09) earnings per share for the quarter, beating analysts' consensus estimates of ($3.50) by $0.41. The company had revenue of $7.07 billion for the quarter, compared to the consensus estimate of $6.27 billion. PBF Energy had a negative return on equity of 15.67% and a negative net margin of 3.30%. The firm's revenue for the quarter was down 18.3% compared to the same quarter last year. During the same quarter last year, the company earned $0.85 earnings per share. On average, sell-side analysts anticipate that PBF Energy will post -1.12 earnings per share for the current year.

Insider Activity at PBF Energy

In other PBF Energy news, insider Control Empresarial De Capital acquired 48,500 shares of the stock in a transaction dated Thursday, June 5th. The stock was acquired at an average price 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 in the company, valued at approximately $554,514,729.02. This trade represents a 0.16% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. 5.30% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On PBF Energy

Institutional investors have recently added to or reduced their stakes in the company. MassMutual Private Wealth & Trust FSB grew its position in PBF Energy by 761.0% during the second quarter. MassMutual Private Wealth & Trust FSB now owns 1,412 shares of the oil and gas company's stock valued at $31,000 after acquiring an additional 1,248 shares during the period. Fifth Third Bancorp grew its position in PBF Energy by 125.7% during the first quarter. Fifth Third Bancorp now owns 1,442 shares of the oil and gas company's stock valued at $28,000 after acquiring an additional 803 shares during the period. Allworth Financial LP grew its position in PBF Energy by 194.3% during the first quarter. Allworth Financial LP now owns 1,651 shares of the oil and gas company's stock valued at $32,000 after acquiring an additional 1,090 shares during the period. BI Asset Management Fondsmaeglerselskab A S purchased a new stake in PBF Energy during the first quarter valued at about $35,000. Finally, Neo Ivy Capital Management purchased a new stake in PBF Energy during the first quarter valued at about $37,000. Hedge funds and other institutional investors own 96.29% of the company's stock.

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.