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

PBF Energy (NYSE:PBF) had its target price decreased by JPMorgan Chase & Co. from $31.00 to $29.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage currently has a “neutral” rating on the oil and gas company’s stock. JPMorgan Chase & Co.‘s price target suggests a potential upside of 44.51% from the stock’s previous close.

PBF has been the subject of several other reports. Piper Sandler reduced their target price on PBF Energy from $24.00 to $23.00 and set an “underweight” rating for the company in a report on Friday, March 7th. TD Cowen reduced their price objective on PBF Energy from $19.00 to $17.00 and set a “sell” rating for the company in a research note on Tuesday. Wells Fargo & Company decreased their target price on PBF Energy from $34.00 to $25.00 and set an “equal weight” rating for the company in a research report on Friday, February 14th. UBS Group cut their price target on shares of PBF Energy from $29.00 to $26.00 and set a “neutral” rating on the stock in a report on Wednesday, February 19th. Finally, The Goldman Sachs Group decreased their price objective on shares of PBF Energy from $38.00 to $34.00 and set a “neutral” rating for the company in a report on Tuesday, December 10th. Seven analysts have rated the stock with a sell rating and eight have given a hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $28.55.

PBF Energy Price Performance

PBF opened at $20.07 on Tuesday. PBF Energy has a 1 year low of $18.97 and a 1 year high of $62.88. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.25 and a quick ratio of 0.54. The company has a market capitalization of $2.31 billion, a price-to-earnings ratio of -4.26 and a beta of 1.62. The firm’s fifty day moving average price is $26.20 and its two-hundred day moving average price is $29.26.

PBF Energy (NYSE:PBF) last released its quarterly earnings results on Thursday, February 13th. The oil and gas company reported ($2.82) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.80) by ($1.02). PBF Energy had a negative net margin of 1.61% and a negative return on equity of 7.40%. The firm had revenue of $7.35 billion for the quarter, compared to the consensus estimate of $7.25 billion. As a group, analysts anticipate that PBF Energy will post -1.12 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Control Empresarial De Capital purchased 40,000 shares of the firm’s stock in a transaction dated Monday, February 3rd. The shares were purchased at an average cost of $27.47 per share, for a total transaction of $1,098,800.00. Following the completion of the transaction, the insider now directly owns 29,355,998 shares in the company, valued at approximately $806,409,265.06. This represents a 0.14 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. In the last quarter, insiders have purchased 1,062,500 shares of company stock valued at $28,442,290. Corporate insiders own 5.30% of the company’s stock.

Hedge Funds Weigh In On PBF Energy

A number of large investors have recently modified their holdings of the company. Fortitude Family Office LLC lifted its stake in PBF Energy by 968.8% in the 4th quarter. Fortitude Family Office LLC now owns 1,165 shares of the oil and gas company’s stock worth $31,000 after purchasing an additional 1,056 shares in the last quarter. Quarry LP bought a new position in shares of PBF Energy in the third quarter worth $48,000. Golden State Wealth Management LLC purchased a new stake in shares of PBF Energy in the fourth quarter worth $61,000. EverSource Wealth Advisors LLC boosted its stake in PBF Energy by 33.2% during the fourth quarter. EverSource Wealth Advisors LLC now owns 2,463 shares of the oil and gas company’s stock valued at $65,000 after buying an additional 614 shares during the period. Finally, Thurston Springer Miller Herd & Titak Inc. bought a new stake in PBF Energy during the fourth quarter valued at $68,000. 96.29% of the stock is currently 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.