PBF Energy (NYSE:PBF) Price Target Lowered to $35.00 at JPMorgan Chase & Co.

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

PBF has been the topic of several other reports. BMO Capital Markets downgraded shares of PBF Energy from an “outperform” rating to a “market perform” rating and decreased their price objective for the company from $42.00 to $35.00 in a report on Friday, October 4th. Morgan Stanley lowered their price objective on PBF Energy from $48.00 to $38.00 and set an “equal weight” rating on the stock in a report on Monday, September 16th. Scotiabank reduced their target price on PBF Energy from $45.00 to $31.00 and set a “sector perform” rating for the company in a report on Thursday, October 10th. Wells Fargo & Company lowered PBF Energy from an “overweight” rating to an “equal weight” rating and lowered their price target for the stock from $39.00 to $34.00 in a research note on Monday, December 9th. Finally, Mizuho downgraded PBF Energy from a “neutral” rating to an “underperform” rating and reduced their price objective for the company from $33.00 to $31.00 in a research note on Monday, December 16th. Seven analysts have rated the stock with a sell rating and nine have issued a hold rating to the stock. According to data from MarketBeat.com, PBF Energy presently has an average rating of “Hold” and a consensus target price of $32.00.

PBF Energy Price Performance

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

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

Insider Buying and Selling at PBF Energy

In other news, insider Control Empresarial De Capital purchased 287,100 shares of PBF Energy stock in a transaction dated Wednesday, October 23rd. The shares were purchased at an average price of $31.91 per share, with a total value of $9,161,361.00. Following the transaction, the insider now owns 24,751,498 shares in the company, valued at $789,820,301.18. This represents a 1.17 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have bought 3,369,600 shares of company stock worth $102,820,721 in the last ninety days. 6.20% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in PBF. Healthcare of Ontario Pension Plan Trust Fund lifted its position in PBF Energy by 391.9% in 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 buying an additional 1,226,909 shares during the last quarter. BNP Paribas Financial Markets raised its stake in shares of PBF Energy by 132.6% in 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 acquiring an additional 492,053 shares during the period. Recurrent Investment Advisors LLC acquired a new position in shares of PBF Energy in the 3rd quarter worth approximately $11,516,000. Hsbc Holdings PLC boosted its position in shares of PBF Energy by 246.5% during the 2nd quarter. Hsbc Holdings PLC now owns 499,456 shares of the oil and gas company’s stock worth $22,881,000 after purchasing an additional 355,329 shares during the period. Finally, Hotchkis & Wiley Capital Management LLC acquired a new stake in PBF Energy in the 3rd quarter valued at approximately $10,506,000. 96.29% of the stock is currently owned by hedge funds and other 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.