Scotiabank Sticks to Their Hold Rating for PBF Energy (PBF)

In a report released today, Paul Cheng from Scotiabank maintained a Hold rating on PBF Energy, with a price target of $28.00. The company’s shares opened today at $34.74.

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According to TipRanks, Cheng is a 2-star analyst with an average return of 0.7% and a 45.87% success rate. Cheng covers the Energy sector, focusing on stocks such as TotalEnergies, Diamondback, and BP.

Currently, the analyst consensus on PBF Energy is a Moderate Sell with an average price target of $26.82, representing a -22.80% downside. In a report released on October 24, TR | OpenAI – 4o also reiterated a Hold rating on the stock with a $28.00 price target.

Based on PBF Energy’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $7.65 billion and a net profit of $170.1 million. In comparison, last year the company earned a revenue of $8.38 billion and had a GAAP net loss of $285.9 million

Based on the recent corporate insider activity of 108 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of PBF in relation to earlier this year. Last month, Trecia M Canty, the SVP & GC of PBF sold 50,000.00 shares for a total of $1,706,500.00.