PBF Energy (NYSE:PBF) Price Target Cut to $26.00 by Analysts at UBS Group

PBF Energy (NYSE:PBF) had its price target cut by stock analysts at UBS Group from $29.00 to $26.00 in a report issued on Wednesday,Benzinga reports. The firm presently has a “neutral” rating on the oil and gas company’s stock. UBS Group’s price objective points to a potential upside of 8.50% from the stock’s previous close.

A number of other equities research analysts also recently issued reports on PBF. JPMorgan Chase & Co. lowered their price objective on PBF Energy from $36.00 to $35.00 and set a “neutral” rating on the stock in a research report on Friday, January 10th. The Goldman Sachs Group lowered their price objective on PBF Energy from $38.00 to $34.00 and set a “neutral” rating on the stock in a research report on Tuesday, December 10th. Mizuho downgraded PBF Energy from a “neutral” rating to an “underperform” rating and lowered their price objective for the stock from $33.00 to $31.00 in a research report on Monday, December 16th. Wells Fargo & Company lowered their price objective on PBF Energy from $34.00 to $25.00 and set an “equal weight” rating on the stock in a research report on Friday, February 14th. Finally, TD Cowen downgraded PBF Energy from a “hold” rating to a “sell” rating and lowered their price objective for the stock from $27.00 to $20.00 in a research report on Friday, December 20th. Seven investment analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $29.55.

PBF Energy Price Performance

PBF Energy stock opened at $23.96 on Wednesday. PBF Energy has a one year low of $22.03 and a one year high of $62.88. The business has a fifty day moving average price of $27.86 and a 200-day moving average price of $30.82. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.25 and a quick ratio of 0.54. The firm has a market capitalization of $2.76 billion, a P/E ratio of -5.09 and a beta of 1.60.

PBF Energy (NYSE:PBF) last posted its quarterly earnings results on Thursday, February 13th. The oil and gas company reported ($2.82) EPS for the quarter, missing analysts’ consensus estimates of ($1.80) by ($1.02). PBF Energy had a negative return on equity of 7.40% and a negative net margin of 1.61%. The company had revenue of $7.35 billion during the quarter, compared to the consensus estimate of $7.25 billion. As a group, equities research analysts forecast that PBF Energy will post -0.69 EPS for the current year.

Insider Transactions at PBF Energy

In other PBF Energy news, insider Control Empresarial De Capital bought 409,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 27th. The shares were bought at an average cost of $31.58 per share, with a total value of $12,916,220.00. Following the completion of the purchase, the insider now directly owns 27,368,498 shares of the company’s stock, valued at $864,297,166.84. This trade represents a 1.52 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Over the last quarter, insiders have purchased 1,868,500 shares of company stock worth $55,348,810. Company insiders own 6.20% of the company’s stock.

Institutional Trading of PBF Energy

Several large investors have recently modified their holdings of PBF. Creative Planning grew its stake in shares of PBF Energy by 50.3% in the third quarter. Creative Planning now owns 26,898 shares of the oil and gas company’s stock worth $832,000 after purchasing an additional 9,003 shares during the last quarter. Blue Trust Inc. grew its stake in shares of PBF Energy by 1,291.1% in the third quarter. Blue Trust Inc. now owns 2,184 shares of the oil and gas company’s stock worth $68,000 after purchasing an additional 2,027 shares during the last quarter. International Assets Investment Management LLC grew its stake in shares of PBF Energy by 539.7% in the third quarter. International Assets Investment Management LLC now owns 20,118 shares of the oil and gas company’s stock worth $650,000 after purchasing an additional 16,973 shares during the last quarter. Dakota Wealth Management bought a new stake in shares of PBF Energy in the third quarter worth about $694,000. Finally, Nisa Investment Advisors LLC grew its stake in shares of PBF Energy by 1.7% in the third quarter. Nisa Investment Advisors LLC now owns 28,853 shares of the oil and gas company’s stock worth $893,000 after purchasing an additional 485 shares during the last quarter. 96.29% of the stock is owned by institutional investors.

PBF Energy Company Profile

PBF Energy Inc, through its subsidiaries, engages in refining and supplying petroleum products. The company operates in two segments, Refining and Logistics. It produces gasoline, ultra-low-sulfur diesel, heating oil, diesel fuel, jet fuel, lubricants, petrochemicals, and asphalt, as well as unbranded transportation fuels, petrochemical feedstocks, blending components, and other petroleum products from crude oil.