PBF Energy (NYSE:PBF) PT Lowered to $53.00

PBF Energy (NYSE:PBF) had its price objective decreased by investment analysts at JPMorgan Chase & Co. from $58.00 to $53.00 in a note issued to investors on Tuesday, Benzinga reports. The firm presently has an “overweight” rating on the oil and gas company’s stock. JPMorgan Chase & Co.‘s price target suggests a potential upside of 15.85% from the company’s current price.

Several other brokerages have also recently commented on PBF. TD Cowen reduced their price target on PBF Energy from $54.00 to $45.00 and set a “hold” rating for the company in a research report on Friday, May 3rd. Bank of America raised PBF Energy from a “neutral” rating to a “buy” rating and increased their price target for the company from $52.00 to $74.00 in a research report on Friday, March 15th. The Goldman Sachs Group reduced their price target on PBF Energy from $57.00 to $50.00 and set a “neutral” rating for the company in a research report on Monday. Mizuho cut their price objective on PBF Energy from $58.00 to $54.00 and set a “neutral” rating for the company in a research report on Thursday, June 20th. Finally, Piper Sandler cut their price objective on PBF Energy from $54.00 to $47.00 and set a “neutral” rating for the company in a research report on Friday, June 14th. Nine equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $54.91.

PBF Energy Stock Down 1.1 %

NYSE:PBF opened at $45.75 on Tuesday. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.78 and a current ratio of 1.54. The company has a market cap of $5.42 billion, a PE ratio of 3.17 and a beta of 1.60. PBF Energy has a 52-week low of $39.18 and a 52-week high of $62.88. The stock has a 50-day simple moving average of $47.99 and a 200 day simple moving average of $49.57.

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

Insiders Place Their Bets

In related news, insider Control Empresarial De Capital acquired 200,000 shares of the stock in a transaction on Wednesday, June 5th. The shares were purchased at an average price of $45.37 per share, for a total transaction of $9,074,000.00. Following the purchase, the insider now directly owns 14,824,198 shares in the company, valued at $672,573,863.26. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders have purchased a total of 2,091,100 shares of company stock worth $93,004,617 in the last 90 days. Company insiders own 6.20% of the company’s stock.

Hedge Funds Weigh In On PBF Energy

Several hedge funds and other institutional investors have recently modified their holdings of PBF. Trexquant Investment LP acquired a new position in shares of PBF Energy in the third quarter valued at approximately $1,080,000. Qube Research & Technologies Ltd bought a new position in PBF Energy in the 3rd quarter valued at approximately $3,126,000. Tower Research Capital LLC TRC raised its holdings in PBF Energy by 46.5% in the 3rd quarter. Tower Research Capital LLC TRC now owns 7,632 shares of the oil and gas company’s stock valued at $409,000 after buying an additional 2,423 shares during the last quarter. Teza Capital Management LLC bought a new position in PBF Energy in the 3rd quarter valued at approximately $248,000. Finally, Glenmede Trust Co. NA bought a new position in PBF Energy in the 3rd quarter valued at approximately $442,000. 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.