Fintel reports that on August 15, 2023, B of A Securities downgraded their outlook for PBF Energy Inc – (NYSE:PBF) from Buy to Neutral.

Analyst Price Forecast Suggests 5.06% Downside

As of August 2, 2023, the average one-year price target for PBF Energy Inc – is 47.01. The forecasts range from a low of 36.36 to a high of $60.90. The average price target represents a decrease of 5.06% from its latest reported closing price of 49.52.

See our leaderboard of companies with the largest price target upside.

The projected annual revenue for PBF Energy Inc – is 38,131MM, a decrease of 9.35%. The projected annual non-GAAP EPS is 9.33.

What is the Fund Sentiment?

There are 799 funds or institutions reporting positions in PBF Energy Inc -. This is a decrease of 36 owner(s) or 4.31% in the last quarter. Average portfolio weight of all funds dedicated to PBF is 0.26%, an increase of 3.66%. Total shares owned by institutions decreased in the last three months by 10.63% to 112,424K shares. The put/call ratio of PBF is 0.57, indicating a bullish outlook.

What are Other Shareholders Doing?

VTSMX – Vanguard Total Stock Market Index Fund Investor Shares holds 3,597K shares representing 2.91% ownership of the company. In it’s prior filing, the firm reported owning 3,603K shares, representing a decrease of 0.15%. The firm decreased its portfolio allocation in PBF by 1.96% over the last quarter.

IJH – iShares Core S&P Mid-Cap ETF holds 3,526K shares representing 2.85% ownership of the company. In it’s prior filing, the firm reported owning 3,530K shares, representing a decrease of 0.10%. The firm increased its portfolio allocation in PBF by 1.66% over the last quarter.

Bank of New York Mellon holds 3,458K shares representing 2.80% ownership of the company. In it’s prior filing, the firm reported owning 3,421K shares, representing an increase of 1.08%. The firm decreased its portfolio allocation in PBF by 89.94% over the last quarter.

NAESX – Vanguard Small-Cap Index Fund Investor Shares holds 3,038K shares representing 2.46% ownership of the company. In it’s prior filing, the firm reported owning 3,054K shares, representing a decrease of 0.53%. The firm increased its portfolio allocation in PBF by 1.51% over the last quarter.

Arrowstreet Capital, Limited Partnership holds 3,032K shares representing 2.45% ownership of the company. In it’s prior filing, the firm reported owning 3,001K shares, representing an increase of 1.02%. The firm decreased its portfolio allocation in PBF by 10.40% over the last quarter.

PBF Energy Background Information
(This description is provided by the company.)

PBF Energy Inc. is one of the largest independent refiners in North America, operating, through its subsidiaries, oil refineries and related facilities in California, Delaware, Louisiana, New Jersey and Ohio. The Company’s mission is to operate its facilities in a safe, reliable and environmentally responsible manner, provide employees with a safe and rewarding workplace, become a positive influence in the communities where it does business, and provide superior returns to its investors.

This article originally appeared on Fintel

Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.