PBF Energy (NYSE:PBF) PT Lowered to $36.00

PBF Energy (NYSE:PBF) had its price objective decreased by equities researchers at Mizuho from $42.00 to $36.00 in a research note issued to investors on Wednesday, Benzinga reports. The firm presently has a “neutral” rating on the oil and gas company’s stock. Mizuho’s price objective would indicate a potential upside of 13.46% from the company’s current price.

Other equities analysts have also recently issued research reports about the company. The Goldman Sachs Group dropped their price target on PBF Energy from $45.00 to $39.00 and set a “neutral” rating on the stock in a research note on Friday, October 4th. Tudor Pickering upgraded shares of PBF Energy to a “strong sell” rating in a report on Monday, September 9th. BMO Capital Markets lowered shares of PBF Energy from an “outperform” rating to a “market perform” rating and reduced their price target for the stock from $42.00 to $35.00 in a research report on Friday, October 4th. Piper Sandler lowered shares of PBF Energy from a “neutral” rating to an “underweight” rating and dropped their price objective for the company from $47.00 to $25.00 in a research note on Friday, September 20th. Finally, Morgan Stanley cut their price target on PBF Energy from $48.00 to $38.00 and set an “equal weight” rating for the company in a research note on Monday, September 16th. Three research analysts have rated the stock with a sell rating, eleven have issued a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $42.91.

PBF Energy Price Performance

Shares of PBF opened at $31.73 on Wednesday. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.42 and a quick ratio of 0.75. The company has a market cap of $3.76 billion, a P/E ratio of 2.20 and a beta of 1.55. PBF Energy has a 12 month low of $30.17 and a 12 month high of $62.88. The stock has a fifty day moving average price of $34.03 and a 200 day moving average price of $43.83.

PBF Energy (NYSE:PBF) last released its quarterly earnings results on Thursday, August 1st. The oil and gas company reported ($0.54) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.15) by ($0.39). The business had revenue of $8.74 billion during the quarter, compared to the consensus estimate of $8.64 billion. PBF Energy had a return on equity of 12.81% and a net margin of 2.09%. The company’s revenue for the quarter was down 4.6% compared to the same quarter last year. During the same period in the previous year, the company posted $2.29 EPS. On average, research analysts forecast that PBF Energy will post 0.35 earnings per share for the current year.

Insider Transactions at PBF Energy

In other news, insider Control Empresarial De Capital bought 55,000 shares of the business’s stock in a transaction dated Monday, September 30th. The stock was bought at an average price of $30.85 per share, for a total transaction of $1,696,750.00. Following the completion of the purchase, the insider now owns 23,462,398 shares of the company’s stock, valued at approximately $723,814,978.30. The trade was a 0.00 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In the last ninety days, insiders purchased 2,952,300 shares of company stock valued at $97,300,026. Corporate insiders own 5.30% of the company’s stock.

Institutional Investors Weigh In On PBF Energy

A number of institutional investors and hedge funds have recently modified their holdings of PBF. Healthcare of Ontario Pension Plan Trust Fund raised its position in shares of PBF Energy by 94.5% during the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 313,091 shares of the oil and gas company’s stock valued at $14,408,000 after acquiring an additional 152,091 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of PBF Energy during the second quarter worth $275,000. Sanctuary Advisors LLC bought a new stake in PBF Energy in the second quarter valued at about $1,176,000. Invst LLC lifted its stake in PBF Energy by 6.2% in the second quarter. Invst LLC now owns 16,554 shares of the oil and gas company’s stock valued at $770,000 after buying an additional 965 shares during the period. Finally, Sunbelt Securities Inc. increased its stake in shares of PBF Energy by 11.9% in the 2nd quarter. Sunbelt Securities Inc. now owns 13,540 shares of the oil and gas company’s stock valued at $623,000 after acquiring an additional 1,436 shares during the last quarter. 96.29% of the stock is owned by 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.