JP Morgan lifts PBF Energy Inc. [PBF] price estimate. Who else is bullish?

PBF Energy Inc. [NYSE: PBF] price plunged by -5.90 percent to reach at -$2.16. The company report on November 30, 2022 that TortoiseEcofin Announces Constituent Changes Due to Corporate Action.

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TortoiseEcofin today announced that PBF Logistics LP (NYSE:PBFX) will be removed from the Tortoise MLP Index® (TMLP), and the Tortoise North American Pipeline IndexSM (TNAP), as a result of the approved merger with PBF Energy Inc (NYSE:PBF). As part of the transaction PBF will acquire all of the outstanding common units representing limited partner interests of PBFX it does not already own effective December 1, 2022. Due to the acquisition, PBFX will be removed from both indices at market open on Thursday, December 1, 2022.

For Tortoise MLP Index® (TMLP), PBFX will be removed with a special rebalancing. PBFX will be dropped from Tortoise North American Pipeline IndexSM (TNAP) without special rebalancing.

A sum of 6988804 shares traded at recent session while its average daily volume was at 3.34M shares. PBF Energy Inc. shares reached a high of $37.23 and dropped to a low of $34.355 until finishing in the latest session at $34.48.

The one-year PBF stock forecast points to a potential upside of 29.24. The average equity rating for PBF stock is currently 2.40, trading closer to a bullish pattern in the stock market.

Guru’s Opinion on PBF Energy Inc. [PBF]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for PBF shares is $48.73 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on PBF stock is a recommendation set at 2.40. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

JP Morgan have made an estimate for PBF Energy Inc. shares, keeping their opinion on the stock as Overweight, with their previous recommendation back on September 21, 2022. While these analysts kept the previous recommendation, Wolfe Research raised their target price from $36 to $49. The new note on the price target was released on September 15, 2022, representing the official price target for PBF Energy Inc. stock. Previously, the target price had yet another raise to $57, while Wells Fargo analysts kept a Overweight rating on PBF stock.

The Average True Range (ATR) for PBF Energy Inc. is set at 2.45, with the Price to Sales ratio for PBF stock in the period of the last 12 months amounting to 0.12. The Price to Book ratio for the last quarter was 1.00, with the Price to Cash per share for the same quarter was set at 12.72. Price to Free Cash Flow for PBF in the course of the last twelve months was 1.38 with Quick ratio for the last quarter at 0.70.

PBF Stock Performance Analysis:

PBF Energy Inc. [PBF] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -19.48. With this latest performance, PBF shares dropped by -25.27% in over the last four-week period, additionally sinking by -14.44% over the last 6 months – not to mention a rise of 171.92% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for PBF stock in for the last two-week period is set at 25.74, with the RSI for the last a single of trading hit 15.71, and the three-weeks RSI is set at 33.55 for PBF Energy Inc. [PBF]. The present Moving Average for the last 50 days of trading for this stock 42.28, while it was recorded at 38.37 for the last single week of trading, and 32.59 for the last 200 days.

Insight into PBF Energy Inc. Fundamentals:

Operating Margin for any stock indicates how profitable investing would be, and PBF Energy Inc. [PBF] shares currently have an operating margin of +2.61 and a Gross Margin at +3.51. PBF Energy Inc.’s Net Margin is presently recorded at +0.85.

Return on Equity for this stock inclined to 12.94, with Return on Assets sitting at 1.99.

PBF Energy Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.70 and a Current Ratio set at 1.20.


The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for PBF. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for PBF Energy Inc. go to 0.00%.

PBF Energy Inc. [PBF] Insider Position Details

There are presently around $4,063 million, or 92.90% of PBF stock, in the hands of institutional investors. The top three institutional holders of PBF stocks are: BLACKROCK INC. with ownership of 18,324,922, which is approximately 9.929% of the company’s market cap and around 10.20% of the total institutional ownership; VANGUARD GROUP INC, holding 13,175,781 shares of the stock with an approximate value of $454.3 million in PBF stocks shares; and STATE STREET CORP, currently with $227.13 million in PBF stock with ownership of nearly 0% of the company’s market capitalization.

215 institutional holders increased their position in PBF Energy Inc. [NYSE:PBF] by around 17,734,944 shares. Additionally, 130 investors decreased positions by around 12,405,708 shares, while 31 investors held positions by with 87,687,008 shares. The mentioned changes placed institutional holdings at 117,827,660 shares, according to the latest SEC report filing. PBF stock had 76 new institutional investments in for a total of 3,114,615 shares, while 32 institutional investors sold positions of 4,963,992 shares during the same period.


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