Short Interest in PBF Energy Inc. (PBF) Drops By 23.4%
PBF Energy Inc. (NYSE:PBF) saw a significant decrease in short interest in September. As of September 29th, there was short interest totalling 20,525,220 shares, a decrease of 23.4% from the September 15th total of 26,785,268 shares. Based on an average daily trading volume, of 2,286,519 shares, the short-interest ratio is presently 9.0 days. Approximately 20.0% of the shares of the stock are sold short.
Several research analysts have recently issued reports on the stock. Royal Bank Of Canada reiterated a “hold” rating and set a $28.00 price target on shares of PBF Energy in a report on Wednesday. Cowen and Company reiterated a “buy” rating and set a $30.00 price target on shares of PBF Energy in a report on Tuesday. 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 report on Saturday, October 14th. Barclays PLC reiterated an “underweight” rating and set a $26.00 price target (up from $24.00) on shares of PBF Energy in a report on Tuesday, October 10th. Finally, ValuEngine upgraded shares of PBF Energy from a “sell” rating to a “hold” rating in a report on Friday, September 1st. Three analysts have rated the stock with a sell rating, eight have given a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. PBF Energy has a consensus rating of “Hold” and a consensus target price of $25.60.
Several hedge funds have recently added to or reduced their stakes in the business. JPMorgan Chase & Co. increased its position in shares of PBF Energy by 8.7% in the second quarter. JPMorgan Chase & Co. now owns 11,884,657 shares of the oil and gas company’s stock valued at $264,551,000 after acquiring an additional 953,577 shares during the period. Vanguard Group Inc. increased its position in shares of PBF Energy by 1.4% in the first quarter. Vanguard Group Inc. now owns 10,203,227 shares of the oil and gas company’s stock valued at $226,206,000 after acquiring an additional 141,619 shares during the period. Dimensional Fund Advisors LP increased its position in shares of PBF Energy by 7.4% in the second quarter. Dimensional Fund Advisors LP now owns 9,230,934 shares of the oil and gas company’s stock valued at $205,480,000 after acquiring an additional 635,728 shares during the period. BlackRock Inc. increased its position in shares of PBF Energy by 94.0% in the second quarter. BlackRock Inc. now owns 9,111,987 shares of the oil and gas company’s stock valued at $202,832,000 after acquiring an additional 4,415,117 shares during the period. Finally, State Street Corp increased its position in shares of PBF Energy by 48.0% in the second quarter. State Street Corp now owns 4,969,947 shares of the oil and gas company’s stock valued at $110,639,000 after acquiring an additional 1,611,707 shares during the period.
Shares of PBF Energy (NYSE:PBF) opened at 27.56 on Thursday. The firm’s market capitalization is $3.02 billion. PBF Energy has a 12-month low of $18.48 and a 12-month high of $30.98. The company has a 50-day moving average price of $26.09 and a 200-day moving average price of $22.75.
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 for the quarter, missing the consensus estimate of $0.03 by ($0.09). PBF Energy had a negative return on equity of 4.98% and a negative net margin of 0.23%. The business had revenue of $5.02 billion during the quarter, compared to the consensus estimate of $4.76 billion. During the same period in the prior year, the firm earned $0.14 earnings per share. Equities analysts predict that PBF Energy will post $0.96 EPS for the current year.
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.
Receive News & Ratings for PBF Energy Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PBF Energy Inc. and related companies with MarketBeat.com's FREE daily email newsletter.