PBF Energy Inc (NYSE:PBF) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Sunday, AnalystRatingsNetwork.com reports. The brokerage presently has a $39.00 target price on the stock. Zacks Investment Research‘s price target would indicate a potential upside of 9.74% from the stock’s current price.

According to Zacks, “PBF Energy Inc. operates as a petroleum refiner and supplier. The Company offers unbranded transportation fuels, heating oil, petrochemical feedstocks, lubricants and other petroleum products in the United States. Its refineries are located in Toledo, Ohio, Delaware City, Delaware and Paulsboro, New Jersey. The company sells its products in the northeast and Midwest United States, as well as in other regions of the United States and Canada. PBF Energy Inc. is based in Parsippany, New Jersey. “

PBF has been the topic of a number of other research reports. Morgan Stanley raised shares of PBF Energy from an “equal weight” rating to an “overweight” rating and set a $49.00 target price on the stock in a research report on Friday, January 15th. Credit Suisse raised their target price on shares of PBF Energy from $42.00 to $47.00 and gave the company an “outperform” rating in a research report on Wednesday, December 2nd. Goldman Sachs raised shares of PBF Energy from a “neutral” rating to a “buy” rating and raised their target price for the company from $39.00 to $48.00 in a research report on Monday, November 23rd. Citigroup Inc. reissued a “buy” rating and set a $48.00 target price on shares of PBF Energy in a research report on Thursday, October 22nd. Finally, Barclays raised shares of PBF Energy from an “underweight” rating to an “equal weight” rating and raised their target price for the company from $32.00 to $38.00 in a research report on Monday, October 12th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, nine have given a buy rating and two have issued a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $41.00.

Other hedge funds recently added to or reduced their stakes in the company. BLB&B Advisors bought a new stake in PBF Energy during the fourth quarter worth approximately $392,000. Alpha Windward acquired a new stake in shares of PBF Energy during the fourth quarter valued at approximately $457,000. Meeder Asset Management acquired a new stake in shares of PBF Energy during the fourth quarter valued at approximately $2,089,000. ICON Advisers acquired a new stake in shares of PBF Energy during the third quarter valued at approximately $7,808,000. Finally, Acadian Asset Management boosted its stake in shares of PBF Energy by 9.5% in the fourth quarter. Acadian Asset Management now owns 3,716,458 shares of the company’s stock valued at $136,801,000 after buying an additional 321,343 shares during the last quarter.

PBF Energy (NYSE:PBF) opened at 35.54 on Friday. The stock’s market capitalization is $3.47 billion. The stock’s 50 day moving average is $36.13 and its 200 day moving average is $33.13. PBF Energy has a 12-month low of $25.58 and a 12-month high of $41.75.

PBF Energy (NYSE:PBF) last posted its earnings results on Thursday, October 29th. The company reported $1.85 EPS for the quarter, beating analysts’ consensus estimates of $1.54 by $0.31. During the same period last year, the business posted $1.60 EPS. The business had revenue of $3.22 billion for the quarter, compared to analysts’ expectations of $2.96 billion. The company’s revenue for the quarter was down 38.8% on a year-over-year basis. Equities analysts anticipate that PBF Energy will post $4.17 EPS for the current fiscal year.

PBF Energy Inc. (NYSE:PBF) is a petroleum refiner and supplier of unbranded transportation fuels, heating oil, petrochemical feedstocks, lubricants and other petroleum products. PBF owns and operates three domestic oil refineries and related assets with a combined processing capacity, known as throughput, of approximately 540,000bpd, and a weighted average Nelson Complexity Index of 11.3. PBF Energy’s three refineries are located in Toledo, Ohio, Delaware City, Delaware and Paulsboro, New Jersey. The Company operates in two business segments: Refining and Logistics. The Company’s three oil refineries are all engaged in the refining of crude oil and other feedstocks into petroleum products, and are aggregated into the Refining segment. PBFX operates logistical assets , such as crude oil and refined petroleum products terminals, pipelines, and storage facilities, which are aggregated into the Logistics segment.

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