PBF Energy (NYSE:PBF) PT Lowered to $45.00

PBF Energy (NYSE:PBF) had its price objective decreased by equities researchers at TD Cowen from $54.00 to $45.00 in a research report issued on Friday, MarketBeat Ratings reports. The brokerage currently has a “hold” rating on the oil and gas company’s stock. TD Cowen’s target price indicates a potential downside of 13.23% from the stock’s current price.

Other analysts have also recently issued reports about the company. Bank of America raised PBF Energy from a “neutral” rating to a “buy” rating and raised their price target for the company from $52.00 to $74.00 in a report on Friday, March 15th. Wells Fargo & Company upped their price target on shares of PBF Energy from $65.00 to $71.00 and gave the stock an “overweight” rating in a research note on Thursday, April 11th. Scotiabank increased their price target on shares of PBF Energy from $39.00 to $56.00 and gave the company a “sector perform” rating in a report on Thursday, April 11th. Citigroup started coverage on shares of PBF Energy in a report on Wednesday, January 24th. They set a “neutral” rating on the stock. Finally, Mizuho cut shares of PBF Energy from a “buy” rating to a “neutral” rating and increased their target price for the company from $53.00 to $58.00 in a report on Friday, March 22nd. Nine investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $57.91.

PBF Energy Stock Performance

NYSE:PBF opened at $51.86 on Friday. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.56 and a quick ratio of 0.81. The firm has a market cap of $6.20 billion, a price-to-earnings ratio of 3.59 and a beta of 1.73. The firm’s fifty day moving average price is $55.07 and its 200 day moving average price is $48.96. PBF Energy has a 1-year low of $31.25 and a 1-year high of $62.88.

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

Insider Activity at PBF Energy

In other PBF Energy news, SVP Paul T. Davis sold 100,000 shares of the firm’s stock in a transaction on Monday, March 25th. The stock was sold at an average price of $56.37, for a total transaction of $5,637,000.00. Following the completion of the transaction, the senior vice president now owns 110,978 shares of the company’s stock, valued at $6,255,829.86. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other PBF Energy news, SVP Paul T. Davis sold 100,000 shares of the company’s stock in a transaction dated Monday, March 25th. The shares were sold at an average price of $56.37, for a total value of $5,637,000.00. Following the transaction, the senior vice president now directly owns 110,978 shares in the company, valued at approximately $6,255,829.86. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP Connor Thomas L. O sold 40,000 shares of the firm’s stock in a transaction dated Tuesday, March 19th. The stock was sold at an average price of $55.87, for a total transaction of $2,234,800.00. Following the sale, the senior vice president now directly owns 160,338 shares in the company, valued at $8,958,084.06. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 180,000 shares of company stock valued at $10,074,600. 5.30% of the stock is owned by corporate insiders.

Institutional Trading of PBF Energy

Hedge funds and other institutional investors have recently bought and sold shares of the company. GAMMA Investing LLC grew its holdings in PBF Energy by 95.3% in the 1st quarter. GAMMA Investing LLC now owns 459 shares of the oil and gas company’s stock valued at $26,000 after buying an additional 224 shares during the period. Rise Advisors LLC purchased a new stake in PBF Energy in the first quarter valued at approximately $27,000. Creekmur Asset Management LLC acquired a new position in PBF Energy during the fourth quarter worth approximately $29,000. Fifth Third Bancorp raised its stake in PBF Energy by 39.8% during the third quarter. Fifth Third Bancorp now owns 808 shares of the oil and gas company’s stock worth $43,000 after purchasing an additional 230 shares during the period. Finally, Fortitude Family Office LLC acquired a new position in shares of PBF Energy in the 4th quarter valued at $44,000. 96.29% of the stock is 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.