PBF Energy (NYSE:PBF) Rating Increased to Neutral at Credit Suisse Group

Credit Suisse Group upgraded shares of PBF Energy (NYSE:PBF) from an underperform rating to a neutral rating in a research note released on Monday, Price Targets.com reports. The brokerage currently has $17.00 price target on the oil and gas company’s stock, up from their prior price target of $8.75.

Other equities research analysts have also issued research reports about the company. Bank of America lowered PBF Energy from a neutral rating to an underperform rating in a research report on Wednesday, January 6th. Piper Sandler raised their target price on shares of PBF Energy from $8.00 to $15.00 and gave the stock a neutral rating in a report on Thursday, April 1st. Mizuho upped their price target on shares of PBF Energy from $8.00 to $20.00 and gave the company a buy rating in a report on Friday, February 26th. Morgan Stanley raised their price objective on shares of PBF Energy from $9.00 to $17.50 and gave the stock an underweight rating in a report on Wednesday, March 17th. Finally, Tudor Pickering raised shares of PBF Energy from a sell rating to a hold rating in a research report on Thursday, January 21st. Seven equities research analysts have rated the stock with a sell rating, eight have given a hold rating and one has assigned a buy rating to the company’s stock. PBF Energy has a consensus rating of Hold and an average price target of $11.15.

PBF Energy stock opened at $14.28 on Monday. PBF Energy has a fifty-two week low of $4.06 and a fifty-two week high of $18.78. The company has a debt-to-equity ratio of 1.80, a current ratio of 1.69 and a quick ratio of 0.93. The firm has a market capitalization of $1.72 billion, a price-to-earnings ratio of -1.63 and a beta of 2.95. The company’s 50 day simple moving average is $15.27 and its 200 day simple moving average is $9.38.

PBF Energy (NYSE:PBF) last announced its quarterly earnings results on Thursday, February 11th. The oil and gas company reported ($4.53) earnings per share for the quarter, missing analysts’ consensus estimates of ($3.41) by ($1.12). PBF Energy had a negative return on equity of 27.99% and a negative net margin of 5.86%. The firm had revenue of $3.66 billion for the quarter, compared to the consensus estimate of $3.52 billion. As a group, analysts predict that PBF Energy will post -10.09 EPS for the current fiscal year.

In related news, insider John C. Barone sold 1,986 shares of the stock in a transaction that occurred on Wednesday, March 3rd. The stock was sold at an average price of $16.56, for a total transaction of $32,888.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 4.30% of the company’s stock.

A number of institutional investors and hedge funds have recently modified their holdings of PBF. Norges Bank bought a new stake in PBF Energy during the fourth quarter worth $9,424,000. SummerHaven Investment Management LLC acquired a new position in shares of PBF Energy during the 4th quarter worth about $338,000. Morgan Stanley increased its stake in shares of PBF Energy by 28.7% during the 4th quarter. Morgan Stanley now owns 1,352,440 shares of the oil and gas company’s stock worth $9,603,000 after purchasing an additional 301,843 shares during the last quarter. Jefferies Group LLC bought a new stake in shares of PBF Energy in the 4th quarter valued at about $2,023,000. Finally, JPMorgan Chase & Co. lifted its stake in PBF Energy by 63.8% in the 4th quarter. JPMorgan Chase & Co. now owns 707,638 shares of the oil and gas company’s stock valued at $5,025,000 after purchasing an additional 275,508 shares during the last quarter. Institutional investors and hedge funds own 75.09% of the company’s stock.

PBF Energy Company Profile

PBF Energy Inc, together with 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.

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Analyst Recommendations for PBF Energy (NYSE:PBF)

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