TD Cowen Lowers PBF Energy (NYSE:PBF) Price Target to $45.00

PBF Energy (NYSE:PBF) had its price objective cut by research analysts at TD Cowen from $54.00 to $45.00 in a research note issued to investors on Friday, MarketBeat.com reports. The firm currently has a “hold” rating on the oil and gas company’s stock. TD Cowen’s price target indicates a potential downside of 13.23% from the stock’s previous close.

Other research analysts also recently issued reports about the company. Wells Fargo & Company boosted their target price on PBF Energy from $65.00 to $71.00 and gave the stock an “overweight” rating in a research note on Thursday, April 11th. JPMorgan Chase & Co. upped their price objective on shares of PBF Energy from $54.00 to $59.00 and gave the company an “overweight” rating in a report on Monday, April 1st. Mizuho cut shares of PBF Energy from a “buy” rating to a “neutral” rating and lifted their target price for the stock from $53.00 to $58.00 in a research note on Friday, March 22nd. Citigroup initiated coverage on shares of PBF Energy in a research note on Wednesday, January 24th. They set a “neutral” rating on the stock. Finally, Piper Sandler lifted their price objective on shares of PBF Energy from $50.00 to $61.00 and gave the stock a “neutral” rating in a research note on Friday, April 5th. Nine research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, PBF Energy currently has an average rating of “Hold” and a consensus price target of $57.91.

PBF Energy Trading Down 1.4 %

Shares of NYSE:PBF opened at $51.86 on Friday. PBF Energy has a 12-month low of $31.25 and a 12-month high of $62.88. The business’s fifty day simple moving average is $55.07 and its 200-day simple moving average is $48.96. The company has a market capitalization of $6.20 billion, a PE ratio of 3.59 and a beta of 1.73. The company has a current ratio of 1.56, a quick ratio of 0.81 and a debt-to-equity ratio of 0.19.

PBF Energy (NYSE:PBF) last posted its earnings results on Thursday, February 15th. The oil and gas company reported ($0.41) EPS for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.49). PBF Energy had a net margin of 4.95% and a return on equity of 18.49%. The firm had revenue of $9.14 billion for the quarter, compared to analysts’ expectations of $8.65 billion. During the same period in the previous year, the company earned $4.41 EPS. The company’s revenue was down 15.7% on a year-over-year basis. As a group, equities research analysts predict that PBF Energy will post 7.75 earnings per share for the current fiscal year.

Insider Buying and Selling at PBF Energy

In other news, SVP Connor Thomas L. O sold 40,000 shares of the company’s stock in a transaction dated Tuesday, March 19th. The stock was sold at an average price of $55.87, for a total value of $2,234,800.00. Following the sale, the senior vice president now owns 160,338 shares in the company, valued at $8,958,084.06. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, SVP Paul T. Davis sold 100,000 shares of the firm’s stock in a transaction on Monday, March 25th. The shares were sold at an average price of $56.37, for a total transaction of $5,637,000.00. Following the sale, the senior vice president now owns 110,978 shares in the company, valued at $6,255,829.86. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, SVP Connor Thomas L. O sold 40,000 shares of PBF Energy stock in a transaction on Tuesday, March 19th. The shares were sold at an average price of $55.87, for a total transaction of $2,234,800.00. Following the completion of the transaction, the senior vice president now directly owns 160,338 shares of the company’s stock, valued at approximately $8,958,084.06. The disclosure for this sale can be found here. In the last quarter, insiders sold 180,000 shares of company stock worth $10,074,600. Insiders own 5.30% of the company’s stock.

Institutional Investors Weigh In On PBF Energy

Institutional investors have recently modified their holdings of the business. Xponance Inc. grew its holdings in PBF Energy by 7.2% in the third quarter. Xponance Inc. now owns 17,835 shares of the oil and gas company’s stock valued at $955,000 after purchasing an additional 1,203 shares during the period. Raymond James Financial Services Advisors Inc. grew its stake in PBF Energy by 4.0% in the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 35,817 shares of the oil and gas company’s stock valued at $1,917,000 after acquiring an additional 1,377 shares during the period. Stratos Wealth Partners LTD. purchased a new stake in PBF Energy in the 3rd quarter worth $229,000. Bailard Inc. purchased a new position in PBF Energy during the third quarter valued at $674,000. Finally, Strategic Investment Advisors MI purchased a new position in PBF Energy during the third quarter valued at $812,000. 96.29% of the stock is currently 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.