Morgan Stanley Issues Pessimistic Forecast for PBF Energy (NYSE:PBF) Stock Price

PBF Energy (NYSE:PBF) had its target price cut by stock analysts at Morgan Stanley from $31.00 to $28.00 in a research note issued on Friday,Benzinga reports. The brokerage presently has an “equal weight” rating on the oil and gas company’s stock. Morgan Stanley’s price target would indicate a potential upside of 35.30% from the company’s previous close.

Several other equities research analysts also recently issued reports on the company. Wells Fargo & Company lowered their price target on PBF Energy from $25.00 to $22.00 and set an “equal weight” rating on the stock in a research report on Thursday. UBS Group lowered their price target on PBF Energy from $29.00 to $26.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 19th. The Goldman Sachs Group lowered their price target on PBF Energy from $38.00 to $34.00 and set a “neutral” rating on the stock in a research report on Tuesday, December 10th. JPMorgan Chase & Co. decreased their target price on PBF Energy from $31.00 to $29.00 and set a “neutral” rating on the stock in a research report on Tuesday, March 11th. Finally, Piper Sandler decreased their target price on PBF Energy from $24.00 to $23.00 and set an “underweight” rating on the stock in a research report on Friday, March 7th. Seven equities research analysts have rated the stock with a sell rating and eight have given a hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $27.36.

PBF Energy Trading Up 5.2 %

PBF Energy stock opened at $20.70 on Friday. 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 $2.39 billion, a price-to-earnings ratio of -4.39 and a beta of 1.62. PBF Energy has a one year low of $18.97 and a one year high of $62.88. The company’s fifty day moving average price is $25.93 and its two-hundred day moving average price is $29.08.

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

Insiders Place Their Bets

In other PBF Energy news, insider Control Empresarial De Capital purchased 341,500 shares of the business’s stock in a transaction on Wednesday, December 18th. The stock was purchased at an average price of $26.86 per share, for a total transaction of $9,172,690.00. Following the completion of the purchase, the insider now directly owns 28,814,998 shares in the company, valued at approximately $773,970,846.28. This trade represents a 1.20 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders acquired a total of 1,062,500 shares of company stock worth $28,442,290 over the last quarter. Company insiders own 5.30% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Fortitude Family Office LLC raised its stake in shares of PBF Energy by 968.8% in 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 acquiring an additional 1,056 shares during the last quarter. Quarry LP bought a new position in shares of PBF Energy in the third quarter valued at approximately $48,000. Golden State Wealth Management LLC bought a new position in shares of PBF Energy in the fourth quarter valued at approximately $61,000. EverSource Wealth Advisors LLC raised its stake in shares of PBF Energy by 33.2% in 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 acquiring an additional 614 shares during the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of PBF Energy in the fourth quarter valued at approximately $68,000. Institutional investors own 96.29% of the company’s stock.

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.