PBF Energy (PBF) stock is expected to deviate a maximum of $7.22 from the average target price of $30.1 for the short term period. 10 Street Experts have initiated coverage on the stock with the most promising target being $40 and the most muted being $19.
PBF Energy (PBF) stated gains of 826,544 shares or 19.4% in the short interest. The short interest registered from 4,269,708 on June 15,2016 to 5,096,252 on June 30,2016. In terms of floated shares, the shorted positions stood at 5.3%. The stock has been averaging 2,163,235 shares daily in trading and would need 2 days to cover the shorts. The information was released by Financial Industry Regulatory Authority, Inc (FINRA) on June 12th.
Also, Goldman Sachs downgrades its rating on PBF Energy (NYSE:PBF). The global brokerage major lowers the current price target from $37 per share to $26 per share. Analysts at the Goldman Sachs have a current rating of Neutral on the shares. The shares were previously rated Buy. The rating by the firm was issued on June 29, 2016.
PBF Energy (NYSE:PBF): stock turned positive on Thursday. Though the stock opened at $22.01, the bulls momentum made the stock top out at $22.01 level for the day. The stock recorded a low of $21.34 and closed the trading day at $21.82, in the green by 1.25%. The total traded volume for the day was 2,664,728. The stock had closed at $21.55 in the previous days trading.
PBF Energy Inc. (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 Energys 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 Companys 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.