PBF Energy (NYSE:PBF) Improved by Barclays to “Overweight” from “Underweight” Rating With $39.0 Target Price

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Barclays Capital Analyst Rating Change PBF Energy NYSE:PBF

PBF Energy (NYSE:PBF) Upgrade

In analysts note revealed to investors and clients on Tuesday morning, Barclays has raised PBF Energy (NYSE:PBF) stock to “Overweight” and has set a 12 month PT at $39.0. PBF’s old rating was “Underweight”.

The stock upgrade is well received by stock speculators, as NYSE:PBF is currently trading 3.83% higher at $31.96 as of 4:03 AM New York time. PBF Energy’s stock is 0% in the past 200 days. It has underperformed the Standard & Poor’s 500 index, which has gained 6.00% in the same time period.

Out of 13 analysts covering PBF Energy, 11 rate it a Buy, 6 indicate a Hold while 0 suggest a Sell. The highest target is $49 and the lowest is $27 according to Thomson/First Call. The 12-month mean target is $35.85, which means upside potential of 12.17% over the current price.

Institutional Ownership

Venor Capital Management Lp had the most significant stake with ownership of 317,649 shares as of q2 2015 for 10.45% of the fund’s portfolio. Old West Investment Management Llc is another bullish institutional investor who is possessing 429,569 shares of PBF Energy or 7.07% of their fund’s portfolio. In addition, Knightsbridge Asset Management Llc have 5.21% of their fund’s portfolio invested in the company for 235,400 shares. The Massachusetts-based fund Baupost Group Llc Ma disclosed it had purchased a stake worth about 5.06% of the institutional investor’s stock portfolio in PBF Energy. The Pennsylvania-based fund Snow Capital Management Lp is also positive about the stock, possessing 15.72M shares or 3.65% of their fund’s portfolio.

PBF Energy (NYSE:PBF) Profile

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.

PBF Energy (NYSE:PBF) traded up 3.83% on 14 November, hitting $31.96. A total of 1.91M shares of the company’s stock traded hands. This is down from average of 2.03M shares. PBF Energy has a 52 week low of $18.48 and a 52 week high of $32.65. The company has a market cap of $3.52B and a P/E ratio of 15.94.

Get the latest PBF Energy (NYSE:PBF) Stock Ratings at Octafinance. Completely free access to our Analyst Ratings Database for 6000+ stocks.

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