PBF Energy (NYSE:PBF) Given New $16.00 Price Target at Scotiabank

PBF Energy (NYSE:PBF) had its price objective cut by investment analysts at Scotiabank from $25.00 to $16.00 in a report issued on Friday,Benzinga reports. The brokerage presently has a “sector perform” rating on the oil and gas company’s stock. Scotiabank’s target price would suggest a potential upside of 3.66% from the company’s previous close.

Several other analysts have also issued reports on PBF. TD Cowen cut their price target 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, March 11th. JPMorgan Chase & Co. dropped their target price on PBF Energy from $31.00 to $29.00 and set a “neutral” rating for the company in a report on Tuesday, March 11th. Wells Fargo & Company decreased their price target on PBF Energy from $25.00 to $22.00 and set an “equal weight” rating on the stock in a research note on Thursday, March 13th. The Goldman Sachs Group dropped their price objective on PBF Energy from $28.00 to $23.00 and set a “neutral” rating for the company in a research note on Thursday, March 27th. Finally, Mizuho decreased their target price on shares of PBF Energy from $28.00 to $22.00 and set an “underperform” rating on the stock in a research note on Tuesday, April 1st. Seven investment analysts have rated the stock with a sell rating and eight have issued a hold rating to the company. According to MarketBeat, PBF Energy presently has an average rating of “Hold” and an average target price of $24.18.

PBF Energy Stock Performance

Shares of NYSE PBF opened at $15.44 on Friday. The stock’s 50-day moving average is $21.02 and its 200 day moving average is $26.92. The stock has a market cap of $1.78 billion, a price-to-earnings ratio of -3.28 and a beta of 1.15. PBF Energy has a 1-year low of $13.62 and a 1-year high of $60.98. The company has a current ratio of 1.25, a quick ratio of 0.54 and a debt-to-equity ratio of 0.26.

PBF Energy (NYSE:PBF) last posted 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). PBF Energy had a negative return on equity of 7.40% and a negative net margin of 1.61%. The business had revenue of $7.35 billion for the quarter, compared to analysts’ expectations of $7.25 billion. On average, sell-side analysts anticipate that PBF Energy will post -1.12 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider Control Empresarial De Capital purchased 15,000 shares of PBF Energy stock in a transaction that occurred on Wednesday, April 9th. The shares were bought at an average cost of $13.98 per share, with a total value of $209,700.00. Following the completion of the purchase, the insider now directly owns 30,757,998 shares in the company, valued at approximately $429,996,812.04. This trade represents a 0.05 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders purchased 812,000 shares of company stock worth $20,207,980 over the last three months. Company insiders own 5.30% of the company’s stock.

Institutional Trading of PBF Energy

A number of hedge funds have recently modified their holdings of PBF. Fortitude Family Office LLC increased its stake in shares of PBF Energy by 968.8% in the 4th quarter. Fortitude Family Office LLC now owns 1,165 shares of the oil and gas company’s stock worth $31,000 after acquiring an additional 1,056 shares in the last quarter. Parallel Advisors LLC grew its holdings in PBF Energy by 80.4% in the first quarter. Parallel Advisors LLC now owns 2,434 shares of the oil and gas company’s stock worth $46,000 after purchasing an additional 1,085 shares during the period. Golden State Wealth Management LLC bought a new position in shares of PBF Energy during the fourth quarter valued at approximately $61,000. EverSource Wealth Advisors LLC lifted its holdings in shares of 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. bought a new stake in shares of PBF Energy in the 4th quarter worth approximately $68,000. Institutional investors own 96.29% of the company’s stock.

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.