PBF Energy (NYSE:PBF) Price Target Cut to $39.00

by · The Cerbat Gem

PBF Energy (NYSE:PBF – Get Free Report) had its target price lowered by equities researchers at The Goldman Sachs Group from $45.00 to $39.00 in a research note issued to investors on Friday, Benzinga reports. The brokerage presently has a “neutral” rating on the oil and gas company’s stock. The Goldman Sachs Group’s target price suggests a potential upside of 18.22% from the company’s current price.

PBF has been the subject of a number of other reports. Tudor Pickering raised PBF Energy to a “strong sell” rating in a research report on Monday, September 9th. UBS Group decreased their price objective on PBF Energy from $57.00 to $44.00 and set a “neutral” rating for the company in a report on Tuesday, August 13th. Wolfe Research initiated coverage on shares of PBF Energy in a report on Thursday, July 18th. They set a “peer perform” rating on the stock. BMO Capital Markets lowered shares of PBF Energy from an “outperform” rating to a “market perform” rating and cut their target price for the stock from $42.00 to $35.00 in a research report on Friday. Finally, Piper Sandler lowered shares of PBF Energy from a “neutral” rating to an “underweight” rating and lowered their price target for the company from $47.00 to $25.00 in a research report on Friday, September 20th. Three equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, PBF Energy presently has a consensus rating of “Hold” and an average price target of $43.45.

Read Our Latest Research Report on PBF Energy

PBF Energy Price Performance

Shares of NYSE:PBF opened at $32.99 on Friday. The company has a market capitalization of $3.91 billion, a P/E ratio of 2.28 and a beta of 1.55. The company’s 50-day moving average is $34.14 and its 200 day moving average is $44.09. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.75 and a current ratio of 1.42. PBF Energy has a fifty-two week low of $30.17 and a fifty-two week high of $62.88.

PBF Energy (NYSE:PBF – Get Free Report) last released its earnings results on Thursday, August 1st. The oil and gas company reported ($0.54) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.39). PBF Energy had a net margin of 2.09% and a return on equity of 12.81%. The company had revenue of $8.74 billion during the quarter, compared to analysts’ expectations of $8.64 billion. During the same quarter in the previous year, the firm earned $2.29 earnings per share. The firm’s revenue was down 4.6% compared to the same quarter last year. On average, equities research analysts forecast that PBF Energy will post 0.35 earnings per share for the current year.

Insider Activity

In other PBF Energy news, insider Control Empresarial De Capital acquired 55,000 shares of the stock in a transaction that occurred on Monday, September 30th. The shares were bought at an average price of $30.85 per share, for a total transaction of $1,696,750.00. Following the completion of the transaction, the insider now owns 23,462,398 shares of the company’s stock, valued at approximately $723,814,978.30. This represents a 0.00 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders bought 2,952,300 shares of company stock worth $97,300,026 in the last three months. Corporate insiders own 5.30% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. GAMMA Investing LLC lifted its position in PBF Energy by 95.3% during the first quarter. GAMMA Investing LLC now owns 459 shares of the oil and gas company’s stock valued at $26,000 after purchasing an additional 224 shares during the last quarter. National Bank of Canada FI purchased a new stake in shares of PBF Energy during the 2nd quarter valued at $26,000. Rise Advisors LLC bought a new stake in shares of PBF Energy during the 1st quarter worth $27,000. Creekmur Asset Management LLC purchased a new position in PBF Energy in the fourth quarter worth $29,000. Finally, CWM LLC grew its position in PBF Energy by 108.6% in the second quarter. CWM LLC now owns 1,093 shares of the oil and gas company’s stock worth $50,000 after acquiring an additional 569 shares in the last quarter. 96.29% of the stock is currently owned by institutional investors.

PBF Energy Company Profile

(Get Free Report)

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.

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