PBF Energy (NYSE:PBF) Price Target Lowered to $27.00 at TD Cowen

PBF Energy (NYSE:PBF) had its price target cut by stock analysts at TD Cowen from $32.00 to $27.00 in a research note issued on Friday, Briefing.com reports. The brokerage presently has a “hold” rating on the oil and gas company’s stock. TD Cowen’s price objective points to a potential downside of 5.33% from the stock’s current price.

Several other equities research analysts also recently weighed in on PBF. BMO Capital Markets downgraded PBF Energy from an “outperform” rating to a “market perform” rating and decreased their price objective for the company from $42.00 to $35.00 in a report on Friday, October 4th. The Goldman Sachs Group decreased their price target on shares of PBF Energy from $45.00 to $39.00 and set a “neutral” rating for the company in a research note on Friday, October 4th. Piper Sandler lowered shares of PBF Energy from a “neutral” rating to an “underweight” rating and dropped their price objective for the company from $47.00 to $25.00 in a research note on Friday, September 20th. UBS Group decreased their target price on shares of PBF Energy from $57.00 to $44.00 and set a “neutral” rating for the company in a research note on Tuesday, August 13th. Finally, Wells Fargo & Company lowered their price target on PBF Energy from $51.00 to $39.00 and set an “overweight” rating on the stock in a report on Wednesday, October 9th. Four research analysts have rated the stock with a sell rating, eleven have given a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, PBF Energy presently has a consensus rating of “Hold” and a consensus target price of $34.45.

PBF Energy Trading Down 1.1 %

NYSE PBF opened at $28.52 on Friday. The firm’s fifty day moving average price is $32.28 and its 200 day moving average price is $40.69. PBF Energy has a 12 month low of $28.08 and a 12 month high of $62.88. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.42 and a quick ratio of 0.75. The company has a market capitalization of $3.34 billion, a price-to-earnings ratio of 4.75 and a beta of 1.55.

PBF Energy (NYSE:PBF) last issued its quarterly earnings data on Thursday, October 31st. The oil and gas company reported ($1.50) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.40) by ($0.10). The firm had revenue of $8.38 billion for the quarter, compared to analysts’ expectations of $8.27 billion. PBF Energy had a return on equity of 12.81% and a net margin of 2.09%. The business’s revenue for the quarter was down 21.9% compared to the same quarter last year. During the same period in the previous year, the business posted $6.61 EPS. On average, sell-side analysts expect that PBF Energy will post -2.27 earnings per share for the current fiscal year.

Insider Buying and Selling at PBF Energy

In related news, insider Control Empresarial De Capital acquired 75,000 shares of the firm’s stock in a transaction that occurred on Monday, October 28th. The shares were purchased at an average price of $31.58 per share, with a total value of $2,368,500.00. Following the completion of the acquisition, the insider now owns 25,026,498 shares in the company, valued at approximately $790,336,806.84. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Over the last quarter, insiders acquired 4,007,400 shares of company stock valued at $128,539,347. 5.30% of the stock is owned by company insiders.

Hedge Funds Weigh In On PBF Energy

Several hedge funds and other institutional investors have recently bought and sold shares of PBF. Acadian Asset Management LLC raised its position in PBF Energy by 4.8% during the first quarter. Acadian Asset Management LLC now owns 1,054,399 shares of the oil and gas company’s stock worth $60,689,000 after acquiring an additional 48,525 shares during the last quarter. Magnetar Financial LLC acquired a new stake in shares of PBF Energy in the first quarter valued at approximately $1,394,000. Inspire Investing LLC purchased a new position in shares of PBF Energy during the 1st quarter worth approximately $905,000. Public Employees Retirement System of Ohio raised its position in shares of PBF Energy by 720.8% during the 1st quarter. Public Employees Retirement System of Ohio now owns 43,074 shares of the oil and gas company’s stock worth $2,480,000 after purchasing an additional 37,826 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. lifted its stake in PBF Energy by 6.7% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 55,073 shares of the oil and gas company’s stock valued at $3,171,000 after buying an additional 3,474 shares in the last quarter. 96.29% of the stock is owned by institutional investors and hedge funds.

About PBF Energy

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.