TD Cowen Cuts PBF Energy (NYSE:PBF) Price Target to $17.00

PBF Energy (NYSE:PBF) had its target price lowered by equities researchers at TD Cowen from $19.00 to $17.00 in a report issued on Tuesday,Briefing.com Automated Import reports. The firm presently has a “sell” rating on the oil and gas company’s stock. TD Cowen’s price objective would suggest a potential downside of 18.41% from the company’s current price.

Other equities analysts have also recently issued reports about the stock. The Goldman Sachs Group dropped their price objective on shares of PBF Energy from $38.00 to $34.00 and set a “neutral” rating on the stock in a research note on Tuesday, December 10th. JPMorgan Chase & Co. dropped their price objective on PBF Energy from $36.00 to $35.00 and set a “neutral” rating for the company in a research note on Friday, January 10th. Piper Sandler reduced their price objective on PBF Energy from $24.00 to $23.00 and set an “underweight” rating for the company in a report on Friday. Mizuho cut PBF Energy from a “neutral” rating to an “underperform” rating and dropped their price target for the company from $33.00 to $31.00 in a research report on Monday, December 16th. Finally, Wells Fargo & Company lowered their price objective on shares of PBF Energy from $34.00 to $25.00 and set an “equal weight” rating on the stock in a research note on Friday, February 14th. Seven research analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $29.09.

PBF Energy Price Performance

Shares of NYSE PBF opened at $20.84 on Tuesday. The stock’s 50-day simple moving average is $26.46 and its 200-day simple moving average is $29.42. PBF Energy has a fifty-two week low of $18.97 and a fifty-two week high of $62.88. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.54 and a current ratio of 1.25. The firm has a market capitalization of $2.40 billion, a PE ratio of -4.42 and a beta of 1.62.

PBF Energy (NYSE:PBF) last released its quarterly earnings results on Thursday, February 13th. The oil and gas company reported ($2.82) EPS for the quarter, missing the consensus estimate of ($1.80) by ($1.02). The firm had revenue of $7.35 billion for the quarter, compared to analyst estimates of $7.25 billion. PBF Energy had a negative return on equity of 7.40% and a negative net margin of 1.61%. As a group, equities research analysts forecast that PBF Energy will post -1.12 EPS for the current fiscal year.

Insider Activity

In other PBF Energy news, insider Control Empresarial De Capital purchased 40,000 shares of the firm’s stock in a transaction on Monday, February 3rd. The shares were purchased at an average cost of $27.47 per share, with a total value of $1,098,800.00. Following the purchase, the insider now owns 29,355,998 shares in the company, valued at approximately $806,409,265.06. This represents a 0.14 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Insiders acquired a total of 1,062,500 shares of company stock valued at $28,442,290 over the last quarter. Company insiders own 5.30% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of PBF. T. Rowe Price Investment Management Inc. grew its stake in shares of PBF Energy by 150.7% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 2,116,396 shares of the oil and gas company’s stock valued at $56,191,000 after buying an additional 1,272,254 shares during the period. Healthcare of Ontario Pension Plan Trust Fund boosted its holdings in PBF Energy by 391.9% in the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,540,000 shares of the oil and gas company’s stock valued at $47,663,000 after acquiring an additional 1,226,909 shares during the last quarter. Norges Bank purchased a new stake in PBF Energy during the fourth quarter valued at about $20,896,000. Recurrent Investment Advisors LLC raised its holdings in shares of PBF Energy by 154.0% in the 4th quarter. Recurrent Investment Advisors LLC now owns 945,239 shares of the oil and gas company’s stock worth $25,096,000 after purchasing an additional 573,161 shares during the period. Finally, JPMorgan Chase & Co. lifted its stake in shares of PBF Energy by 60.4% in the 4th quarter. JPMorgan Chase & Co. now owns 1,492,573 shares of the oil and gas company’s stock valued at $39,628,000 after purchasing an additional 562,287 shares in the last quarter. 96.29% of the stock is currently owned by hedge funds and other institutional investors.

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.