PBF Energy (NYSE:PBF) Price Target Cut to $38.00

PBF Energy (NYSE:PBF) had its price objective reduced by investment analysts at Morgan Stanley from $48.00 to $38.00 in a research note issued on Monday, Benzinga reports. The brokerage presently has an “equal weight” rating on the oil and gas company’s stock. Morgan Stanley’s price objective would indicate a potential upside of 14.91% from the stock’s previous close.

PBF has been the subject of several other reports. JPMorgan Chase & Co. reduced their price objective on PBF Energy from $58.00 to $53.00 and set an “overweight” rating for the company in a report on Tuesday, July 2nd. Scotiabank decreased their price objective on shares of PBF Energy from $56.00 to $45.00 and set a “sector perform” rating on the stock in a research report on Friday, July 12th. UBS Group dropped their target price on shares of PBF Energy from $57.00 to $44.00 and set a “neutral” rating for the company in a report on Tuesday, August 13th. Mizuho reduced their price target on shares of PBF Energy from $48.00 to $42.00 and set a “neutral” rating on the stock in a report on Monday. Finally, Wells Fargo & Company dropped their price objective on shares of PBF Energy from $52.00 to $51.00 and set an “overweight” rating for the company in a research note on Tuesday, September 3rd. Two analysts have rated the stock with a sell rating, ten have given a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $49.91.

PBF Energy Trading Up 1.7 %

NYSE:PBF opened at $33.07 on Monday. PBF Energy has a 1 year low of $30.61 and a 1 year high of $62.88. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.75 and a current ratio of 1.42. The stock has a fifty day moving average price of $36.14 and a two-hundred day moving average price of $45.87. The stock has a market capitalization of $3.92 billion, a price-to-earnings ratio of 2.29 and a beta of 1.56.

PBF Energy (NYSE:PBF) last announced its quarterly earnings data on Thursday, August 1st. The oil and gas company reported ($0.54) EPS for the quarter, missing the consensus estimate 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 analyst estimates of $8.64 billion. During the same quarter last year, the business earned $2.29 EPS. The firm’s revenue for the quarter was down 4.6% on a year-over-year basis. As a group, sell-side analysts anticipate that PBF Energy will post 1.25 earnings per share for the current fiscal year.

Insider Activity at PBF Energy

In other PBF Energy news, insider Control Empresarial De Capital purchased 140,000 shares of the stock in a transaction on Friday, June 28th. The stock was bought at an average price of $45.73 per share, for a total transaction of $6,402,200.00. Following the acquisition, the insider now directly owns 17,772,598 shares of the company’s stock, valued at $812,740,906.54. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Over the last ninety days, insiders acquired 3,049,500 shares of company stock worth $109,399,914. 5.30% of the stock is currently owned by insiders.

Hedge Funds Weigh In On PBF Energy

A number of hedge funds have recently made changes to their positions in PBF. Private Advisor Group LLC purchased a new position in shares of PBF Energy in the 4th quarter worth $283,000. BNP Paribas Financial Markets increased its stake in PBF Energy by 162.1% during the fourth quarter. BNP Paribas Financial Markets now owns 135,835 shares of the oil and gas company’s stock worth $5,971,000 after acquiring an additional 84,003 shares during the last quarter. Principal Financial Group Inc. raised its holdings in shares of PBF Energy by 2.1% in the 4th quarter. Principal Financial Group Inc. now owns 469,134 shares of the oil and gas company’s stock worth $20,623,000 after purchasing an additional 9,427 shares during the period. Quadrant Capital Group LLC lifted its stake in shares of PBF Energy by 12.8% in the 4th quarter. Quadrant Capital Group LLC now owns 2,598 shares of the oil and gas company’s stock valued at $114,000 after purchasing an additional 295 shares in the last quarter. Finally, Norges Bank purchased a new stake in shares of PBF Energy during the 4th quarter worth about $54,832,000. Institutional investors and hedge funds own 96.29% of the company’s stock.

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.