PBF Energy (NYSE:PBF) Price Target Cut to $50.00 by Analysts at The Goldman Sachs Group

PBF Energy (NYSE:PBF) had its price objective lowered by research analysts at The Goldman Sachs Group from $57.00 to $50.00 in a research report issued to clients and investors on Monday, Benzinga reports. The firm presently has a “neutral” rating on the oil and gas company’s stock. The Goldman Sachs Group’s price objective suggests a potential upside of 7.74% from the company’s previous close.

Other equities research analysts have also recently issued research reports about the company. JPMorgan Chase & Co. raised their price objective on PBF Energy from $54.00 to $59.00 and gave the stock an “overweight” rating in a report on Monday, April 1st. Piper Sandler lowered 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 cut their price objective on shares of PBF Energy from $54.00 to $45.00 and set a “hold” rating on the stock in a report on Friday, May 3rd. Scotiabank boosted 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. Finally, Mizuho dropped their price objective on PBF Energy from $58.00 to $54.00 and set a “neutral” rating for the company in a report on Thursday, June 20th. Nine analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $55.45.

PBF Energy Price Performance

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

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

Insider Activity

In related news, insider Control Empresarial De Capital acquired 51,000 shares of the stock in a transaction that occurred on Friday, June 7th. The stock was purchased at an average cost of $46.19 per share, for a total transaction of $2,355,690.00. Following the purchase, the insider now directly owns 14,875,198 shares in the company, valued at $687,085,395.62. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Over the last ninety days, insiders purchased 1,951,100 shares of company stock valued at $86,602,417. 6.20% of the stock is currently owned by insiders.

Institutional Trading of PBF Energy

Several institutional investors have recently modified their holdings of PBF. Banque Cantonale Vaudoise boosted its stake in shares of PBF Energy by 10.4% during the 1st quarter. Banque Cantonale Vaudoise now owns 1,830 shares of the oil and gas company’s stock worth $105,000 after acquiring an additional 172 shares in the last quarter. Fifth Third Bancorp raised its holdings in PBF Energy by 30.4% during the 1st quarter. Fifth Third Bancorp now owns 953 shares of the oil and gas company’s stock worth $55,000 after buying an additional 222 shares during the period. GAMMA Investing LLC lifted its stake in PBF Energy by 95.3% during the first quarter. GAMMA Investing LLC now owns 459 shares of the oil and gas company’s stock valued at $26,000 after buying an additional 224 shares in the last quarter. Center For Asset Management LLC boosted its holdings in shares of PBF Energy by 3.9% in the first quarter. Center For Asset Management LLC now owns 6,127 shares of the oil and gas company’s stock worth $353,000 after buying an additional 228 shares during the period. Finally, Quadrant Capital Group LLC boosted its holdings in shares of PBF Energy by 12.8% in the fourth quarter. Quadrant Capital Group LLC now owns 2,598 shares of the oil and gas company’s stock worth $114,000 after buying an additional 295 shares during the period. 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.