PBF Energy (NYSE:PBF) Price Target Cut to $22.00 by Analysts at Wells Fargo & Company

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

Several other research analysts have also weighed in on the stock. UBS Group dropped their price objective on shares of PBF Energy from $29.00 to $26.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 19th. TD Cowen dropped their price objective on shares of PBF Energy from $19.00 to $17.00 and set a “sell” rating on the stock in a research note on Tuesday. Mizuho lowered shares of PBF Energy from a “neutral” rating to an “underperform” rating and dropped their price objective for the company from $33.00 to $31.00 in a research note on Monday, December 16th. Piper Sandler dropped their price objective on shares of PBF Energy from $24.00 to $23.00 and set an “underweight” rating on the stock in a research note on Friday, March 7th. Finally, The Goldman Sachs Group dropped their price objective on shares of PBF Energy from $38.00 to $34.00 and set a “neutral” rating on the stock in a research note on Tuesday, December 10th. Seven analysts have rated the stock with a sell rating and eight have given a hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $27.36.

PBF Energy Stock Up 5.2 %

Shares of NYSE:PBF opened at $20.70 on Thursday. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.54 and a current ratio of 1.25. The company has a market cap of $2.39 billion, a PE ratio of -4.39 and a beta of 1.62. PBF Energy has a 52 week low of $18.97 and a 52 week high of $62.88. The firm has a 50 day simple moving average of $25.93 and a 200 day simple moving average of $29.10.

PBF Energy (NYSE:PBF) last issued its quarterly 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 firm had revenue of $7.35 billion during the quarter, compared to analysts’ expectations of $7.25 billion. PBF Energy had a negative net margin of 1.61% and a negative return on equity of 7.40%. As a group, research analysts expect that PBF Energy will post -1.12 earnings per share for the current year.

Insider Transactions at PBF Energy

In other news, insider Control Empresarial De Capital acquired 341,500 shares of the firm’s stock in a transaction that occurred on Wednesday, December 18th. The stock was acquired at an average cost of $26.86 per share, with a total value of $9,172,690.00. Following the acquisition, the insider now owns 28,814,998 shares in the company, valued at approximately $773,970,846.28. This represents a 1.20 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders have acquired a total of 1,062,500 shares of company stock worth $28,442,290 in the last 90 days. 5.30% of the stock is owned by insiders.

Institutional Trading of PBF Energy

Large investors have recently modified their holdings of the company. Fortitude Family Office LLC boosted its holdings in shares of PBF Energy by 968.8% during the 4th quarter. Fortitude Family Office LLC now owns 1,165 shares of the oil and gas company’s stock worth $31,000 after buying an additional 1,056 shares during the period. Quarry LP bought a new stake in shares of PBF Energy during the 3rd quarter worth $48,000. Golden State Wealth Management LLC bought a new stake in shares of PBF Energy during the 4th quarter worth $61,000. EverSource Wealth Advisors LLC boosted its holdings in shares of PBF Energy by 33.2% during the 4th quarter. EverSource Wealth Advisors LLC now owns 2,463 shares of the oil and gas company’s stock worth $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 in the 4th quarter valued at $68,000. 96.29% of the stock is owned by institutional investors.

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.