PBF Energy Inc. (PBF) Receives “Hold” Rating from Royal Bank Of Canada
PBF Energy Inc. (NYSE:PBF)‘s stock had its “hold” rating reiterated by equities researchers at Royal Bank Of Canada in a report issued on Wednesday. They currently have a $28.00 price objective on the oil and gas company’s stock. Royal Bank Of Canada’s target price indicates a potential upside of 1.01% from the company’s current price.
A number of other equities research analysts also recently issued reports on PBF. Zacks Investment Research upgraded shares of PBF Energy from a “hold” rating to a “buy” rating and set a $30.00 price target for the company in a research report on Saturday. Cowen and Company reiterated a “buy” rating and set a $30.00 price target on shares of PBF Energy in a research report on Tuesday. BidaskClub downgraded shares of PBF Energy from a “hold” rating to a “sell” rating in a research report on Wednesday, August 16th. Citigroup Inc. reduced their price target on shares of PBF Energy from $33.50 to $33.00 and set a “buy” rating for the company in a research report on Monday, August 7th. Finally, Barclays PLC reiterated an “underweight” rating and set a $26.00 price target (up from $24.00) on shares of PBF Energy in a research report on Tuesday, October 10th. Three analysts have rated the stock with a sell rating, eight have issued a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. PBF Energy presently has a consensus rating of “Hold” and an average price target of $25.60.
PBF Energy (NYSE:PBF) last posted its quarterly earnings results on Thursday, August 3rd. The oil and gas company reported ($0.06) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.03 by ($0.09). PBF Energy had a negative net margin of 0.23% and a negative return on equity of 4.98%. The company had revenue of $5.02 billion for the quarter, compared to analyst estimates of $4.76 billion. During the same quarter in the previous year, the business posted $0.14 earnings per share.
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Several institutional investors and hedge funds have recently modified their holdings of PBF. Nomura Asset Management Co. Ltd. increased its stake in shares of PBF Energy by 50.0% during the 1st quarter. Nomura Asset Management Co. Ltd. now owns 4,740 shares of the oil and gas company’s stock worth $105,000 after purchasing an additional 1,580 shares in the last quarter. OLD Mutual Customised Solutions Proprietary Ltd. purchased a new position in shares of PBF Energy during the 1st quarter worth approximately $113,000. Creative Planning increased its stake in shares of PBF Energy by 92.7% during the 2nd quarter. Creative Planning now owns 5,203 shares of the oil and gas company’s stock worth $116,000 after purchasing an additional 2,503 shares in the last quarter. Flinton Capital Management LLC purchased a new position in shares of PBF Energy during the 2nd quarter worth approximately $119,000. Finally, Huntington National Bank purchased a new position in shares of PBF Energy during the 2nd quarter worth approximately $126,000.
About PBF Energy
PBF Energy Inc (PBF Energy) is a holding company. The Company is an independent petroleum refiner and supplier of unbranded transportation fuels, heating oil, petrochemical feedstocks, lubricants and other petroleum products in the United States. The Company operates through two segments: Refining and Logistics.
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