PBF Energy (NYSE:PBF) Given New $39.00 Price Target at The Goldman Sachs Group

PBF Energy (NYSE:PBF) had its price objective dropped by equities research analysts at The Goldman Sachs Group from $45.00 to $39.00 in a research report issued to clients and investors on Friday, Benzinga reports. The brokerage presently has a “neutral” rating on the oil and gas company’s stock. The Goldman Sachs Group’s price objective would indicate a potential upside of 18.22% from the company’s previous close.

Several other research firms have also issued reports on PBF. Wells Fargo & Company reduced their price target on PBF Energy from $52.00 to $51.00 and set an “overweight” rating on the stock in a research report on Tuesday, September 3rd. Scotiabank cut their target price on shares of PBF Energy from $56.00 to $45.00 and set a “sector perform” rating on the stock in a report on Friday, July 12th. Piper Sandler lowered shares of PBF Energy from a “neutral” rating to an “underweight” rating and lowered their price target for the company from $47.00 to $25.00 in a report on Friday, September 20th. UBS Group cut their price target on shares of PBF Energy from $57.00 to $44.00 and set a “neutral” rating on the stock in a report on Tuesday, August 13th. Finally, BMO Capital Markets downgraded shares of PBF Energy from an “outperform” rating to a “market perform” rating and lowered their price objective for the company from $42.00 to $35.00 in a research note on Friday. Three research analysts have rated the stock with a sell rating, eleven have issued a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, PBF Energy presently has an average rating of “Hold” and a consensus price target of $43.45.

PBF Energy Trading Down 2.1 %

Shares of PBF opened at $32.99 on Friday. PBF Energy has a fifty-two week low of $30.17 and a fifty-two week high of $62.88. The firm has a market cap of $3.91 billion, a price-to-earnings ratio of 2.28 and a beta of 1.55. The firm has a 50 day moving average price of $34.14 and a 200-day moving average price of $44.09. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.75 and a current ratio of 1.42.

PBF Energy (NYSE:PBF) last posted its quarterly earnings results on Thursday, August 1st. The oil and gas company reported ($0.54) earnings per share for the quarter, missing the consensus estimate of ($0.15) by ($0.39). PBF Energy had a return on equity of 12.81% and a net margin of 2.09%. The business had revenue of $8.74 billion during the quarter, compared to the consensus estimate of $8.64 billion. During the same period in the prior year, the firm earned $2.29 earnings per share. The business’s revenue for the quarter was down 4.6% on a year-over-year basis. As a group, equities research analysts forecast that PBF Energy will post 0.35 earnings per share for the current year.

Insider Transactions at PBF Energy

In other news, insider Control Empresarial De Capital purchased 55,000 shares of the company’s stock in a transaction that occurred on Monday, September 30th. The shares were bought at an average cost of $30.85 per share, for a total transaction of $1,696,750.00. Following the completion of the transaction, the insider now directly owns 23,462,398 shares of the company’s stock, valued at $723,814,978.30. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In the last quarter, insiders bought 2,952,300 shares of company stock valued at $97,300,026. Corporate insiders own 5.30% of the company’s stock.

Hedge Funds Weigh In On PBF Energy

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. GAMMA Investing LLC grew its position in shares of PBF Energy by 95.3% in the 1st quarter. GAMMA Investing LLC now owns 459 shares of the oil and gas company’s stock worth $26,000 after buying an additional 224 shares during the period. Rise Advisors LLC bought a new stake in PBF Energy during the first quarter worth about $27,000. National Bank of Canada FI purchased a new stake in PBF Energy in the second quarter worth about $26,000. Creekmur Asset Management LLC bought a new position in shares of PBF Energy during the fourth quarter valued at approximately $29,000. Finally, CWM LLC lifted its holdings in shares of PBF Energy by 108.6% during the second quarter. CWM LLC now owns 1,093 shares of the oil and gas company’s stock valued at $50,000 after purchasing an additional 569 shares during the last quarter. Hedge funds and other 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.