JPMorgan Chase & Co. Issues Pessimistic Forecast for PBF Energy (NYSE:PBF) Stock Price

PBF Energy (NYSE:PBF) had its target price dropped by analysts at JPMorgan Chase & Co. from $36.00 to $35.00 in a research report issued on Friday,Benzinga reports. The brokerage presently has a “neutral” rating on the oil and gas company’s stock. JPMorgan Chase & Co.‘s price objective points to a potential upside of 24.91% from the stock’s previous close.

Several other brokerages have also recently weighed in on PBF. StockNews.com cut shares of PBF Energy from a “hold” rating to a “sell” rating in a research report on Monday, November 4th. Piper Sandler lowered PBF Energy from a “neutral” rating to an “underweight” rating and lowered their target price for the stock from $47.00 to $25.00 in a report on Friday, September 20th. Scotiabank cut their price target on PBF Energy from $45.00 to $31.00 and set a “sector perform” rating on the stock in a report on Thursday, October 10th. BMO Capital Markets cut PBF Energy from an “outperform” rating to a “market perform” rating and decreased their price objective for the stock from $42.00 to $35.00 in a research note on Friday, October 4th. Finally, Morgan Stanley dropped their price objective on PBF Energy from $48.00 to $38.00 and set an “equal weight” rating on the stock in a research report on Monday, September 16th. Seven equities research analysts have rated the stock with a sell rating and nine have given a hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $32.00.

PBF Energy Stock Up 3.6 %

Shares of NYSE PBF opened at $28.02 on Friday. PBF Energy has a 52-week low of $24.21 and a 52-week high of $62.88. The firm has a market capitalization of $3.23 billion, a price-to-earnings ratio of -10.82 and a beta of 1.61. The stock has a 50 day moving average price of $29.12 and a 200 day moving average price of $33.30. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.65 and a current ratio of 1.34.

PBF Energy (NYSE:PBF) last issued its earnings results on Thursday, October 31st. The oil and gas company reported ($1.50) earnings per share for the quarter, missing the consensus estimate of ($1.41) by ($0.09). The firm had revenue of $8.38 billion during the quarter, compared to analysts’ expectations of $8.27 billion. PBF Energy had a negative return on equity of 2.84% and a negative net margin of 0.84%. PBF Energy’s quarterly revenue was down 21.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $6.61 earnings per share. Sell-side analysts expect that PBF Energy will post -2.87 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider Control Empresarial De Capital purchased 70,000 shares of the stock in a transaction on Thursday, December 26th. The stock was bought at an average price of $25.56 per share, with a total value of $1,789,200.00. Following the transaction, the insider now owns 28,884,998 shares in the company, valued at $738,300,548.88. The trade was a 0.24 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last quarter, insiders have purchased 3,369,600 shares of company stock valued at $102,820,721. Insiders own 6.20% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of PBF. Healthcare of Ontario Pension Plan Trust Fund lifted its position in PBF Energy by 391.9% during 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 purchasing an additional 1,226,909 shares during the period. BNP Paribas Financial Markets raised its stake in shares of PBF Energy by 132.6% during the 3rd quarter. BNP Paribas Financial Markets now owns 863,228 shares of the oil and gas company’s stock valued at $26,717,000 after buying an additional 492,053 shares during the last quarter. Recurrent Investment Advisors LLC acquired a new position in shares of PBF Energy in the 3rd quarter valued at about $11,516,000. Hsbc Holdings PLC boosted its stake in shares of PBF Energy by 246.5% in the second quarter. Hsbc Holdings PLC now owns 499,456 shares of the oil and gas company’s stock worth $22,881,000 after buying an additional 355,329 shares during the last quarter. Finally, Hotchkis & Wiley Capital Management LLC purchased a new stake in shares of PBF Energy in the third quarter worth about $10,506,000. 96.29% of the stock is owned by institutional investors and hedge funds.

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.