Wells Fargo & Company Has Lowered Expectations for PBF Energy (NYSE:PBF) Stock Price

PBF Energy (NYSE:PBF) had its target price lowered by equities researchers at Wells Fargo & Company from $25.00 to $22.00 in a research report issued on Thursday,Benzinga reports. The firm presently has an “equal weight” rating on the oil and gas company’s stock. Wells Fargo & Company‘s price objective suggests a potential upside of 6.31% from the company’s previous close.

Other equities research analysts also recently issued research reports about the stock. TD Cowen lowered their price objective on shares of PBF Energy from $19.00 to $17.00 and set a “sell” rating for the company in a research report on Tuesday. UBS Group lowered their price objective on shares of PBF Energy from $29.00 to $26.00 and set a “neutral” rating for the company in a research report on Wednesday, February 19th. JPMorgan Chase & Co. lowered their price objective on shares of PBF Energy from $31.00 to $29.00 and set a “neutral” rating for the company in a research report on Tuesday. Piper Sandler lowered their price objective on shares of PBF Energy from $24.00 to $23.00 and set an “underweight” rating for the company in a research report on Friday, March 7th. Finally, The Goldman Sachs Group lowered their price objective on shares of PBF Energy from $38.00 to $34.00 and set a “neutral” rating for the company in a research report on Tuesday, December 10th. Seven investment analysts have rated the stock with a sell rating and eight have assigned a hold rating to the stock. According to data from MarketBeat, PBF Energy has an average rating of “Hold” and an average price target of $27.36.

PBF Energy Price Performance

PBF opened at $20.70 on Thursday. The company has a 50-day moving average of $25.93 and a 200-day moving average of $29.10. The company has a market capitalization of $2.39 billion, a P/E ratio of -4.39 and a beta of 1.62. 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 quick ratio of 0.54 and a current ratio of 1.25.

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

Insider Transactions at PBF Energy

In related news, insider Control Empresarial De Capital purchased 70,000 shares of PBF Energy stock in a transaction dated Thursday, December 26th. The stock was bought at an average cost of $25.56 per share, with a total value of $1,789,200.00. Following the purchase, the insider now owns 28,884,998 shares in the company, valued at approximately $738,300,548.88. The trade was a 0.24 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In the last three months, insiders purchased 1,062,500 shares of company stock valued at $28,442,290. Company insiders own 5.30% of the company’s stock.

Institutional Trading of PBF Energy

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Fortitude Family Office LLC lifted its stake in PBF Energy by 968.8% during the fourth quarter. Fortitude Family Office LLC now owns 1,165 shares of the oil and gas company’s stock valued at $31,000 after purchasing an additional 1,056 shares during the last quarter. Quarry LP acquired a new stake in PBF Energy during the third quarter valued at approximately $48,000. Golden State Wealth Management LLC acquired a new stake in PBF Energy during the fourth quarter valued at approximately $61,000. EverSource Wealth Advisors LLC lifted 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 purchasing an additional 614 shares during the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. acquired a new stake in PBF Energy during the fourth quarter valued at approximately $68,000. 96.29% of the stock is owned by institutional investors and hedge funds.

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.