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

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

A number of other brokerages also recently weighed in on PBF. Scotiabank cut their price target on shares of PBF Energy from $45.00 to $31.00 and set a “sector perform” rating for the company in a report on Thursday, October 10th. BMO Capital Markets lowered shares of 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 note on Friday, October 4th. Tudor, Pickering, Holt & Co. lowered shares of PBF Energy from a “hold” rating to a “sell” rating in a research note on Monday, September 9th. Wolfe Research started coverage on shares of PBF Energy in a research note on Thursday, July 18th. They set a “peer perform” rating for the company. Finally, Tudor Pickering raised shares of PBF Energy to a “strong sell” rating in a research note on Monday, September 9th. Five investment analysts have rated the stock with a sell rating, ten have given a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, PBF Energy presently has a consensus rating of “Hold” and a consensus price target of $34.18.

PBF Energy Price Performance

Shares of NYSE PBF opened at $28.84 on Monday. PBF Energy has a twelve month low of $27.94 and a twelve month 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 company has a market capitalization of $3.38 billion, a price-to-earnings ratio of -11.14 and a beta of 1.56. The firm has a 50-day moving average of $31.98 and a two-hundred day moving average of $39.86.

PBF Energy (NYSE:PBF) last issued its quarterly earnings results on Thursday, October 31st. The oil and gas company reported ($1.50) earnings per share for the quarter, missing analysts’ consensus estimates 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 analyst estimates of $8.27 billion. During the same period in the previous year, the company posted $6.61 earnings per share. PBF Energy’s revenue was down 21.9% compared to the same quarter last year. As a group, analysts expect that PBF Energy will post -2.32 earnings per share for the current fiscal year.

Insider Transactions at PBF Energy

In related news, insider Control Empresarial De Capital purchased 805,300 shares of PBF Energy stock in a transaction dated Thursday, September 5th. The stock was acquired at an average cost of $32.62 per share, with a total value of $26,268,886.00. Following the completion of the transaction, the insider now directly owns 20,634,898 shares of the company’s stock, valued at $673,110,372.76. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders purchased 4,407,400 shares of company stock valued at $139,761,347 over the last three months. 6.20% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On PBF Energy

A number of hedge funds have recently added to or reduced their stakes in PBF. Norden Group LLC acquired a new position in PBF Energy in the first quarter worth approximately $212,000. Mirae Asset Global Investments Co. Ltd. increased its holdings in 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 worth $3,171,000 after buying an additional 3,474 shares during the last quarter. BNP Paribas Financial Markets increased its holdings in 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 worth $13,127,000 after buying an additional 92,176 shares during the last quarter. TFB Advisors LLC acquired a new position in PBF Energy in the first quarter worth approximately $449,000. Finally, Texas Permanent School Fund Corp grew its holdings in PBF Energy by 1.3% during 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 purchasing an additional 1,232 shares during the last quarter. 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.