Piper Sandler Cuts PBF Energy (NYSE:PBF) Price Target to $23.00

PBF Energy (NYSE:PBF) had its price target lowered by equities researchers at Piper Sandler from $24.00 to $23.00 in a report issued on Friday,Benzinga reports. The brokerage currently has an “underweight” rating on the oil and gas company’s stock. Piper Sandler’s price objective would indicate a potential upside of 6.04% from the stock’s previous close.

Other equities analysts have also recently issued research reports about the company. Mizuho cut PBF Energy from a “neutral” rating to an “underperform” rating and dropped their price target for the company from $33.00 to $31.00 in a research report on Monday, December 16th. Wells Fargo & Company reduced their price objective on PBF Energy from $34.00 to $25.00 and set an “equal weight” rating for the company in a report on Friday, February 14th. UBS Group lowered their target price on PBF Energy from $29.00 to $26.00 and set a “neutral” rating on the stock in a report on Wednesday, February 19th. JPMorgan Chase & Co. cut their price target on PBF Energy from $36.00 to $35.00 and set a “neutral” rating for the company in a research note on Friday, January 10th. Finally, TD Cowen cut shares of PBF Energy from a “hold” rating to a “sell” rating and lowered their price objective for the company from $27.00 to $20.00 in a research note on Friday, December 20th. Seven investment analysts have rated the stock with a sell rating and eight have assigned a hold rating to the stock. According to MarketBeat, PBF Energy presently has a consensus rating of “Hold” and a consensus price target of $29.36.

PBF Energy Trading Up 3.2 %

Shares of PBF stock traded up $0.68 on Friday, hitting $21.69. 514,547 shares of the stock traded hands, compared to its average volume of 2,088,875. PBF Energy has a twelve month low of $18.97 and a twelve month high of $62.88. The stock has a market capitalization of $2.50 billion, a PE ratio of -4.59 and a beta of 1.60. The firm’s 50-day moving average price is $26.64 and its two-hundred day moving average price is $29.68. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.54 and a current ratio of 1.25.

PBF Energy (NYSE:PBF) last issued its quarterly earnings results on Thursday, February 13th. The oil and gas company reported ($2.82) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.80) by ($1.02). The business had revenue of $7.35 billion for the quarter, compared to analyst estimates of $7.25 billion. PBF Energy had a negative return on equity of 7.40% and a negative net margin of 1.61%. As a group, analysts anticipate that PBF Energy will post -1.12 EPS for the current year.

Insider Buying and Selling

In related news, insider Control Empresarial De Capital acquired 155,000 shares of the firm’s stock in a transaction on Monday, March 3rd. The shares were purchased at an average cost of $20.20 per share, for a total transaction of $3,131,000.00. Following the completion of the acquisition, the insider now directly owns 30,249,998 shares in the company, valued at approximately $611,049,959.60. This trade represents a 0.52 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Over the last quarter, insiders have purchased 1,062,500 shares of company stock worth $28,442,290. Corporate insiders own 5.30% of the company’s stock.

Institutional Trading of PBF Energy

Several hedge funds and other institutional investors have recently modified their holdings of PBF. Xponance Inc. grew its stake in shares of PBF Energy by 2.6% in the fourth quarter. Xponance Inc. now owns 14,123 shares of the oil and gas company’s stock valued at $375,000 after acquiring an additional 364 shares in the last quarter. Yousif Capital Management LLC increased its holdings in PBF Energy by 1.1% in the fourth quarter. Yousif Capital Management LLC now owns 40,836 shares of the oil and gas company’s stock valued at $1,084,000 after purchasing an additional 459 shares during the period. Leavell Investment Management Inc. raised its position in PBF Energy by 3.0% during the 3rd quarter. Leavell Investment Management Inc. now owns 15,770 shares of the oil and gas company’s stock worth $488,000 after purchasing an additional 460 shares during the last quarter. CANADA LIFE ASSURANCE Co grew its position in shares of PBF Energy by 0.7% in the 4th quarter. CANADA LIFE ASSURANCE Co now owns 72,672 shares of the oil and gas company’s stock valued at $1,931,000 after buying an additional 480 shares during the last quarter. Finally, Verdence Capital Advisors LLC increased its stake in shares of PBF Energy by 4.4% in the third quarter. Verdence Capital Advisors LLC now owns 12,915 shares of the oil and gas company’s stock valued at $400,000 after buying an additional 543 shares during the period. Institutional investors 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.