The Goldman Sachs Group Trims PBF Energy (NYSE:PBF) Target Price to $50.00

PBF Energy (NYSE:PBF) had its price target cut by investment analysts at The Goldman Sachs Group from $57.00 to $50.00 in a note issued to investors on Monday, Benzinga reports. The brokerage currently has a “neutral” rating on the oil and gas company’s stock. The Goldman Sachs Group’s target price indicates a potential upside of 7.74% from the stock’s previous close.

A number of other equities research analysts have also recently issued reports on the stock. Scotiabank upped their target price on shares of PBF Energy from $39.00 to $56.00 and gave the company a “sector perform” rating in a report on Thursday, April 11th. Piper Sandler cut their price target on PBF Energy from $54.00 to $47.00 and set a “neutral” rating for the company in a report on Friday, June 14th. TD Cowen dropped their price objective on shares of PBF Energy from $54.00 to $45.00 and set a “hold” rating on the stock in a research report on Friday, May 3rd. Wells Fargo & Company decreased their price target on shares of PBF Energy from $67.00 to $66.00 and set an “overweight” rating on the stock in a research note on Thursday, June 6th. Finally, JPMorgan Chase & Co. increased their target price on PBF Energy from $54.00 to $59.00 and gave the stock an “overweight” rating in a research note on Monday, April 1st. Nine analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, PBF Energy currently has a consensus rating of “Hold” and a consensus target price of $55.45.

PBF Energy Stock Up 0.8 %

PBF traded up $0.39 during trading hours on Monday, hitting $46.41. 71,738 shares of the company’s stock were exchanged, compared to its average volume of 2,044,964. The stock has a market cap of $5.50 billion, a price-to-earnings ratio of 3.22 and a beta of 1.60. PBF Energy has a 1-year low of $39.18 and a 1-year high of $62.88. The stock’s 50-day moving average is $48.65 and its two-hundred day moving average is $49.55. The company has a quick ratio of 0.78, a current ratio of 1.54 and a debt-to-equity ratio of 0.20.

PBF Energy (NYSE:PBF) last issued its quarterly earnings results on Thursday, May 2nd. The oil and gas company reported $0.86 EPS for the quarter, beating the consensus estimate of $0.62 by $0.24. The firm had revenue of $8.65 billion during the quarter, compared to analysts’ expectations of $8.29 billion. PBF Energy had a return on equity of 18.47% and a net margin of 4.95%. Sell-side analysts predict that PBF Energy will post 5.26 earnings per share for the current fiscal year.

Insider Buying and Selling at PBF Energy

In other PBF Energy news, insider Control Empresarial De Capital acquired 200,000 shares of the company’s stock in a transaction dated Wednesday, June 5th. The shares were bought at an average cost of $45.37 per share, with a total value of $9,074,000.00. Following the purchase, the insider now directly owns 14,824,198 shares of the company’s stock, valued at $672,573,863.26. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Over the last quarter, insiders have bought 1,951,100 shares of company stock valued at $86,602,417. 6.20% of the stock is currently owned by insiders.

Hedge Funds Weigh In On PBF Energy

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. raised its stake in PBF Energy by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 11,700,449 shares of the oil and gas company’s stock worth $514,352,000 after buying an additional 69,422 shares during the period. Dimensional Fund Advisors LP raised its position in shares of PBF Energy by 1.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 7,381,349 shares of the oil and gas company’s stock worth $324,487,000 after purchasing an additional 120,414 shares during the period. LSV Asset Management lifted its holdings in shares of PBF Energy by 20.4% in the 4th quarter. LSV Asset Management now owns 1,274,904 shares of the oil and gas company’s stock worth $56,045,000 after purchasing an additional 216,400 shares in the last quarter. Norges Bank acquired a new stake in PBF Energy in the 4th quarter valued at $54,832,000. Finally, Acadian Asset Management LLC increased its stake in PBF Energy by 4.8% during the 1st quarter. Acadian Asset Management LLC now owns 1,054,399 shares of the oil and gas company’s stock valued at $60,689,000 after purchasing an additional 48,525 shares in the last quarter. Institutional investors own 96.29% of the company’s stock.

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.