Billionaire investor Jim Mellon stated that Venezuela's oil industry recovery will take 5-10 years to reach previous production levels of 3 million barrels per day. However, he suggests US refiners with heavy crude capacity could benefit from eventual recovery and recommends investors 'load up on oil and gas.' US refiner stocks have rallied significantly following recent political developments in Venezuela.

In the latest quarter, 8 analysts provided ratings for PBF Energy (NYSE:PBF), showcasing a mix of bullish and bearish perspectives. The following table provides a quick overview of their recent ratings, highlighting the changing sentiments over the past 30 days and comparing them to the preceding months. Bullish Somewhat Bullish Indifferent Somewhat Bearish Bearish Total Ratings 0 2 6 0 0 Last 30D 0 0 1 0 0 1M Ago 0 1 2 0 0 2M Ago 0 0 1 0 0 3M Ago 0 1 2 0 0 The 12-month price targets assessed by analysts reveal further insights, featuring an average target of $57.38, a high estimate of $71.00, and a low estimate of $47.00. This current average reflects an increase of 1.77% from the previous average price target of $56.38. Breaking Down Analyst Ratings: A Detailed Examination The analysis of recent analyst actions sheds light on the perception of PBF Energy by financial experts. The following summary presents key analysts, their recent evaluations, and adjustments to ratings and price targets. Analyst Analyst Firm Action Taken Rating Current Price Target Prior Price Target Neil Mehta Goldman Sachs Lowers Neutral $50.00 $57.00 Nitin Kumar Mizuho Lowers Neutral $54.00 $58.00 Ryan Todd Piper Sandler Lowers Neutral $47.00 $54.00 Roger Read Wells Fargo Lowers Overweight $66.00 $67.00 Ryan Todd Piper Sandler Lowers Neutral $54.00 $61.00 Paul Cheng Scotiabank Raises Sector Perform $56.00 $39.00 Roger Read Wells Fargo Raises Overweight $71.00 $65.00 Ryan Todd Piper Sandler Raises Neutral $61.00 $50.00 Key Insights: Action Taken: Analysts respond to changes in market conditions and company performance, frequently updating their recommendations. Whether they 'Maintain', 'Raise' or 'Lower' their stance, it reflects their reaction to recent developments related to ...Full story available on Benzinga.com

Following a careful analysis of the Zacks Oil and Gas - Refining & Marketing industry, we advise focusing on companies like VLO, MUSA and PBF.

Sector ETF report for XOP

Smart Beta ETF report for XOP

In the latest quarter, 9 analysts provided ratings for PBF Energy (NYSE:PBF), showcasing a mix of bullish and bearish perspectives. The following table encapsulates their recent ratings, offering a glimpse into the evolving sentiments over the past 30 days and comparing them to the preceding months. Bullish Somewhat Bullish Indifferent Somewhat Bearish Bearish Total Ratings 1 4 4 0 0 Last 30D 0 1 0 0 0 1M Ago 0 0 1 0 0 2M Ago 0 1 1 0 0 3M Ago 1 2 2 0 0 Providing deeper insights, analysts have established 12-month price targets, indicating an average target of $62.67, along with a high estimate of $74.00 and a low estimate of $54.00. This upward trend is apparent, with the current average reflecting a 11.91% increase from the previous average price target of $56.00. Investigating Analyst Ratings: An Elaborate Study In examining recent analyst actions, we gain insights into how financial experts perceive PBF Energy. The following summary outlines key analysts, their recent evaluations, and adjustments to ratings and price targets. Analyst Analyst Firm Action Taken Rating Current Price Target Prior Price Target Roger Read Wells Fargo Lowers Overweight $66.00 $67.00 Ryan Todd Piper Sandler Lowers Neutral $54.00 $61.00 Paul Cheng Scotiabank Raises Sector Perform $56.00 $39.00 Roger Read Wells Fargo Raises Overweight $71.00 $65.00 Ryan Todd Piper Sandler Raises Neutral $61.00 $50.00 John Royall JP Morgan Raises Overweight $59.00 $54.00 Nitin Kumar Mizuho Raises Neutral $58.00 $52.00 Roger Read Wells Fargo Raises Overweight $65.00 $64.00 Doug Leggate B of A Securities Raises Buy $74.00 $52.00 Key Insights: Action Taken: Analysts respond to changes in market conditions and company performance, frequently updating their recommendations. Whether they 'Maintain', 'Raise' or 'Lower' ...Full story available on Benzinga.com

Smart Beta ETF report for FNK

Style Box ETF report for FNK

During the last three months, 9 analysts shared their evaluations of PBF Energy (NYSE:PBF), revealing diverse outlooks from bullish to bearish. The table below provides a concise overview of recent ratings by analysts, offering insights into the changing sentiments over the past 30 days and drawing comparisons with the preceding months for a holistic perspective. Bullish Somewhat Bullish Indifferent Somewhat Bearish Bearish Total Ratings 1 4 4 0 0 Last 30D 0 0 1 0 0 1M Ago 0 0 0 0 0 2M Ago 1 3 3 0 0 3M Ago 0 1 0 0 0 In the assessment of 12-month price targets, analysts unveil insights for PBF Energy, presenting an average target of $61.33, a high estimate of $74.00, and a low estimate of $54.00. Witnessing a positive shift, the current average has risen by 12.18% from the previous average price target of $54.67. Analyzing Analyst Ratings: A Detailed Breakdown The analysis of recent analyst actions sheds light on the perception of PBF Energy by financial experts. The following summary presents key analysts, their recent evaluations, and adjustments to ratings and price targets. Analyst Analyst Firm Action Taken Rating Current Price Target Prior Price Target Ryan Todd Piper Sandler Lowers Neutral $54.00 $61.00 Paul Cheng Scotiabank Raises Sector Perform $56.00 $39.00 Roger Read Wells Fargo Raises Overweight $71.00 $65.00 Ryan Todd Piper Sandler Raises Neutral $61.00 $50.00 John Royall JP Morgan Raises Overweight $59.00 $54.00 Nitin Kumar Mizuho Raises Neutral $58.00 $52.00 Roger Read Wells Fargo Raises Overweight $65.00 $64.00 Doug Leggate B of A Securities Raises Buy $74.00 $52.00 John Royall JP Morgan Lowers Overweight $54.00 $55.00 Key Insights: Action Taken: Analysts frequently update their recommendations based on evolving market conditions and company performance. Whether they 'Maintain', 'Raise' or 'Lower' their stance, it reflects ...Full story available on Benzinga.com

Style Box ETF report for RWK

Smart Beta ETF report for RFV

Here is how PBF Energy (PBF) and Texas Pacific (TPL) have performed compared to their sector so far this year.