Mizuho Lowers PBF Energy (NYSE:PBF) Price Target to $36.00

PBF Energy (NYSE:PBF) had its target price reduced by investment analysts at Mizuho from $42.00 to $36.00 in a note issued to investors on Wednesday, Benzinga reports. The brokerage presently has a “neutral” rating on the oil and gas company’s stock. Mizuho’s price target points to a potential upside of 8.43% from the company’s current price.

Other equities analysts have also recently issued research reports about the company. Morgan Stanley cut their price objective on PBF Energy from $48.00 to $38.00 and set an “equal weight” rating for the company in a research report on Monday, September 16th. The Goldman Sachs Group lowered their price target on PBF Energy from $45.00 to $39.00 and set a “neutral” rating on the stock in a research note on Friday, October 4th. Tudor, Pickering, Holt & Co. lowered PBF Energy from a “hold” rating to a “sell” rating in a research note on Monday, September 9th. UBS Group lowered their price target on PBF Energy from $57.00 to $44.00 and set a “neutral” rating on the stock in a research note on Tuesday, August 13th. Finally, Wolfe Research initiated coverage on PBF Energy in a research note on Thursday, July 18th. They set a “peer perform” rating on the stock. Three research analysts have rated the stock with a sell rating, eleven have issued a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, PBF Energy has a consensus rating of “Hold” and an average target price of $40.55.

PBF Energy Price Performance

PBF opened at $33.20 on Wednesday. The stock has a market cap of $3.89 billion, a price-to-earnings ratio of 5.52 and a beta of 1.55. PBF Energy has a 1 year low of $30.17 and a 1 year high of $62.88. The company has a current ratio of 1.42, a quick ratio of 0.75 and a debt-to-equity ratio of 0.20. The stock has a fifty day moving average price of $33.68 and a 200 day moving average price of $43.58.

PBF Energy (NYSE:PBF) last announced its quarterly earnings results on Thursday, August 1st. The oil and gas company reported ($0.54) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.39). PBF Energy had a return on equity of 12.81% and a net margin of 2.09%. The company had revenue of $8.74 billion during the quarter, compared to analyst estimates of $8.64 billion. During the same period in the prior year, the firm earned $2.29 EPS. PBF Energy’s quarterly revenue was down 4.6% on a year-over-year basis. Analysts forecast that PBF Energy will post -0.05 EPS for the current fiscal year.

Insider Buying and Selling

In other news, insider Control Empresarial De Capital purchased 40,000 shares of the company’s stock in a transaction on Wednesday, September 25th. The shares were purchased at an average price of $30.93 per share, with a total value of $1,237,200.00. Following the purchase, the insider now directly owns 23,407,398 shares of the company’s stock, valued at $723,990,820.14. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In the last quarter, insiders have acquired 2,952,300 shares of company stock valued at $97,300,026. 5.30% of the stock is owned by company insiders.

Institutional Trading of PBF Energy

A number of hedge funds and other institutional investors have recently modified their holdings of PBF. GAMMA Investing LLC increased its position in shares of PBF Energy by 95.3% in the first quarter. GAMMA Investing LLC now owns 459 shares of the oil and gas company’s stock valued at $26,000 after acquiring an additional 224 shares during the last quarter. National Bank of Canada FI acquired a new stake in shares of PBF Energy in the second quarter valued at about $26,000. Rise Advisors LLC bought a new position in PBF Energy during the first quarter worth about $27,000. Creekmur Asset Management LLC bought a new position in PBF Energy during the fourth quarter worth about $29,000. Finally, CWM LLC grew its holdings in PBF Energy by 108.6% during the second quarter. CWM LLC now owns 1,093 shares of the oil and gas company’s stock worth $50,000 after purchasing an additional 569 shares during the period. Institutional investors and hedge funds own 96.29% of the company’s stock.

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.