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

by · The Cerbat Gem

PBF Energy (NYSE:PBF – Get Free Report) had its target price hoisted by Mizuho from $48.00 to $57.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage currently has a “neutral” rating on the oil and gas company’s stock. Mizuho’s target price suggests a potential downside of 0.54% from the stock’s previous close.

A number of other equities research analysts have also recently issued reports on PBF. Scotiabank boosted their price objective on PBF Energy from $28.00 to $34.00 and gave the stock a “sector perform” rating in a report on Wednesday, April 22nd. The Goldman Sachs Group assumed coverage on PBF Energy in a research note on Friday, April 10th. They set a “neutral” rating and a $49.00 target price on the stock. BMO Capital Markets lifted their price target on PBF Energy from $43.00 to $50.00 and gave the stock a “market perform” rating in a report on Thursday, April 2nd. Morgan Stanley boosted their price target on PBF Energy from $34.00 to $38.00 and gave the company an “underweight” rating in a research note on Friday, June 12th. Finally, Wall Street Zen lowered PBF Energy from a “buy” rating to a “hold” rating in a report on Tuesday. Two equities research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and four have issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Reduce” and a consensus price target of $37.38.

Read Our Latest Research Report on PBF Energy

PBF Energy Stock Performance

NYSE PBF opened at $57.31 on Tuesday. The firm has a 50-day moving average of $43.01 and a 200-day moving average of $39.49. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.62 and a current ratio of 1.31. The stock has a market cap of $6.78 billion, a PE ratio of 15.45, a P/E/G ratio of 0.16 and a beta of 0.11. PBF Energy has a 52-week low of $21.24 and a 52-week high of $58.07.

PBF Energy (NYSE:PBF – Get Free Report) last announced its quarterly earnings results on Thursday, April 30th. The oil and gas company reported ($0.88) EPS for the quarter, missing analysts’ consensus estimates of ($0.79) by ($0.09). The company had revenue of $7.90 billion during the quarter, compared to analyst estimates of $7.32 billion. PBF Energy had a net margin of 1.46% and a negative return on equity of 4.12%. The firm’s quarterly revenue was up 11.9% on a year-over-year basis. During the same quarter last year, the company posted ($3.53) EPS. On average, sell-side analysts anticipate that PBF Energy will post 8.26 EPS for the current year.

Insider Activity

In other PBF Energy news, insider Control Empresarial De Capital sold 570,000 shares of the stock in a transaction that occurred on Monday, June 29th. The shares were sold at an average price of $46.36, for a total transaction of $26,425,200.00. Following the transaction, the insider owned 17,142,128 shares in the company, valued at $794,709,054.08. This represents a 3.22% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In the last quarter, insiders have sold 3,441,570 shares of company stock worth $160,335,386. Corporate insiders own 5.50% of the company’s stock.

Institutional Investors Weigh In On PBF Energy

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

About PBF Energy

(Get Free Report)

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.

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