Mizuho Cuts PBF Energy (NYSE:PBF) Price Target to $33.00

PBF Energy (NYSE:PBF) had its price target cut by equities researchers at Mizuho from $36.00 to $33.00 in a research report issued on Monday, Benzinga reports. The brokerage presently has a “neutral” rating on the oil and gas company’s stock. Mizuho’s target price suggests a potential upside of 14.42% from the stock’s current price.

Several other equities research analysts have also recently weighed in on the company. BMO Capital Markets cut PBF Energy from an “outperform” rating to a “market perform” rating and reduced their price objective for the company from $42.00 to $35.00 in a research report on Friday, October 4th. The Goldman Sachs Group reduced their target price on PBF Energy from $45.00 to $39.00 and set a “neutral” rating for the company in a research report on Friday, October 4th. Wolfe Research initiated coverage on PBF Energy in a research report on Thursday, July 18th. They issued a “peer perform” rating for the company. Morgan Stanley reduced their target price on PBF Energy from $48.00 to $38.00 and set an “equal weight” rating for the company in a research report on Monday, September 16th. Finally, Bank of America initiated coverage on PBF Energy in a research report on Thursday, October 17th. They issued an “underperform” rating and a $25.00 target price for the company. Five research analysts have rated the stock with a sell rating, ten have assigned a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, PBF Energy has an average rating of “Hold” and a consensus target price of $34.18.

PBF Energy Stock Up 1.7 %

PBF opened at $28.84 on Monday. PBF Energy has a 1-year low of $27.94 and a 1-year high of $62.88. The company has a current ratio of 1.34, a quick ratio of 0.65 and a debt-to-equity ratio of 0.21. The stock has a market capitalization of $3.38 billion, a price-to-earnings ratio of -11.14 and a beta of 1.56. The business has a 50 day moving average of $31.98 and a 200-day moving average of $39.86.

PBF Energy (NYSE:PBF) last posted its quarterly earnings data on Thursday, October 31st. The oil and gas company reported ($1.50) earnings per share for the quarter, missing the consensus estimate of ($1.41) by ($0.09). PBF Energy had a negative net margin of 0.84% and a negative return on equity of 2.84%. The business had revenue of $8.38 billion during the quarter, compared to the consensus estimate of $8.27 billion. During the same period in the prior year, the company posted $6.61 earnings per share. The firm’s revenue was down 21.9% compared to the same quarter last year. As a group, sell-side analysts anticipate that PBF Energy will post -2.32 earnings per share for the current year.

Insider Buying and Selling at PBF Energy

In other PBF Energy news, insider Control Empresarial De Capital bought 805,300 shares of the stock in a transaction dated Thursday, September 5th. The stock was bought at an average cost of $32.62 per share, for a total transaction of $26,268,886.00. Following the completion of the purchase, the insider now owns 20,634,898 shares in the company, valued at $673,110,372.76. This represents a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Over the last three months, insiders purchased 4,407,400 shares of company stock valued at $139,761,347. 6.20% of the stock is currently owned by company insiders.

Institutional Trading of PBF Energy

A number of hedge funds and other institutional investors have recently made changes to their positions in PBF. Norden Group LLC acquired a new stake in shares of PBF Energy in the first quarter valued at $212,000. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of PBF Energy by 6.7% in the first 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. BNP Paribas Financial Markets increased its stake in shares of PBF Energy by 67.9% in the first quarter. BNP Paribas Financial Markets now owns 228,011 shares of the oil and gas company’s stock valued at $13,127,000 after buying an additional 92,176 shares in the last quarter. TFB Advisors LLC acquired a new stake in shares of PBF Energy in the first quarter valued at $449,000. Finally, Texas Permanent School Fund Corp increased its stake in shares of PBF Energy by 1.3% in the first quarter. Texas Permanent School Fund Corp now owns 95,185 shares of the oil and gas company’s stock valued at $5,480,000 after buying an additional 1,232 shares in the last quarter. 96.29% of the stock is currently 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.