Wells Fargo & Company Trims PBF Energy (NYSE:PBF) Target Price to $39.00

PBF Energy (NYSE:PBF) had its target price cut by stock analysts at Wells Fargo & Company from $51.00 to $39.00 in a report released on Wednesday, Benzinga reports. The brokerage currently has an “overweight” rating on the oil and gas company’s stock. Wells Fargo & Company‘s target price suggests a potential upside of 21.23% from the company’s current price.

Other equities analysts have also issued research reports about the company. Mizuho lowered their price target on PBF Energy from $42.00 to $36.00 and set a “neutral” rating for the company in a research report on Wednesday. Piper Sandler cut shares of PBF Energy from a “neutral” rating to an “underweight” rating and decreased their target price for the stock from $47.00 to $25.00 in a report on Friday, September 20th. BMO Capital Markets cut shares of PBF Energy from an “outperform” rating to a “market perform” rating and cut their price target for the company from $42.00 to $35.00 in a report on Friday, October 4th. Morgan Stanley reduced their price target on shares of 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, The Goldman Sachs Group lowered their price objective on PBF Energy from $45.00 to $39.00 and set a “neutral” rating on the stock in a research report on Friday, October 4th. Three analysts have rated the stock with a sell rating, eleven have issued a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $41.82.

PBF Energy Stock Up 1.4 %

PBF traded up $0.45 during midday trading on Wednesday, reaching $32.17. The company’s stock had a trading volume of 290,930 shares, compared to its average volume of 2,145,171. The stock’s 50-day moving average is $33.85 and its 200-day moving average is $43.66. PBF Energy has a 1 year low of $30.17 and a 1 year high of $62.88. The firm has a market capitalization of $3.81 billion, a price-to-earnings ratio of 2.23 and a beta of 1.55. The company has a current ratio of 1.42, a quick ratio of 0.75 and a debt-to-equity ratio of 0.20.

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

Insiders Place Their Bets

In other PBF Energy news, insider Control Empresarial De Capital purchased 55,000 shares of PBF Energy stock in a transaction dated Monday, September 30th. The stock was purchased at an average price of $30.85 per share, with a total value of $1,696,750.00. Following the transaction, the insider now directly owns 23,462,398 shares of the company’s stock, valued at $723,814,978.30. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Over the last three months, insiders have bought 2,952,300 shares of company stock valued at $97,300,026. Insiders own 5.30% of the company’s stock.

Institutional Investors Weigh In On PBF Energy

Hedge funds and other institutional investors have recently modified their holdings of the stock. Banque Cantonale Vaudoise grew its holdings in PBF Energy by 10.4% during the first quarter. Banque Cantonale Vaudoise now owns 1,830 shares of the oil and gas company’s stock valued at $105,000 after purchasing an additional 172 shares during the period. GAMMA Investing LLC grew its stake in shares of PBF Energy by 95.3% during the 1st quarter. GAMMA Investing LLC now owns 459 shares of the oil and gas company’s stock valued at $26,000 after acquiring an additional 224 shares during the period. Retirement Systems of Alabama increased its holdings in PBF Energy by 0.3% in the 1st quarter. Retirement Systems of Alabama now owns 136,573 shares of the oil and gas company’s stock worth $7,863,000 after acquiring an additional 359 shares in the last quarter. US Bancorp DE raised its stake in PBF Energy by 5.3% during the 1st quarter. US Bancorp DE now owns 7,852 shares of the oil and gas company’s stock worth $452,000 after acquiring an additional 395 shares during the period. Finally, Rise Advisors LLC purchased a new position in PBF Energy during the first quarter valued at approximately $27,000. 96.29% of the stock is currently owned by hedge funds and other institutional investors.

PBF Energy Company Profile

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.