UBS Group Has Lowered Expectations for PBF Energy (NYSE:PBF) Stock Price

PBF Energy (NYSE:PBF) had its price target cut by investment analysts at UBS Group from $29.00 to $26.00 in a note issued to investors on Wednesday,Benzinga reports. The firm currently has a “neutral” rating on the oil and gas company’s stock. UBS Group’s target price indicates a potential upside of 9.22% from the stock’s current price.

Other equities research analysts have also recently issued research reports about the stock. StockNews.com cut shares of PBF Energy from a “hold” rating to a “sell” rating in a research note on Monday, November 4th. Mizuho cut shares of PBF Energy from a “neutral” rating to an “underperform” rating and lowered their price target for the company from $33.00 to $31.00 in a research report on Monday, December 16th. TD Cowen cut shares of PBF Energy from a “hold” rating to a “sell” rating and lowered their price target for the company from $27.00 to $20.00 in a research report on Friday, December 20th. JPMorgan Chase & Co. lowered their price target on shares of PBF Energy from $36.00 to $35.00 and set a “neutral” rating on the stock in a research report on Friday, January 10th. Finally, The Goldman Sachs Group lowered their price target on shares of PBF Energy from $38.00 to $34.00 and set a “neutral” rating on the stock in a research report on Tuesday, December 10th. Seven research analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $29.55.

PBF Energy Trading Down 2.4 %

Shares of PBF opened at $23.81 on Wednesday. PBF Energy has a 52-week low of $22.03 and a 52-week high of $62.88. The company has a quick ratio of 0.54, a current ratio of 1.25 and a debt-to-equity ratio of 0.26. The firm’s fifty day moving average is $27.74 and its two-hundred day moving average is $30.78. The stock has a market cap of $2.74 billion, a PE ratio of -5.05 and a beta of 1.60.

PBF Energy (NYSE:PBF) last announced its 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). 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 analyst estimates of $7.25 billion. Research analysts forecast that PBF Energy will post -0.97 earnings per share for the current fiscal year.

Insider Buying and Selling at PBF Energy

In other PBF Energy news, insider Control Empresarial De Capital purchased 57,000 shares of the business’s stock in a transaction on Monday, November 25th. The shares were bought at an average cost of $31.70 per share, for a total transaction of $1,806,900.00. Following the completion of the purchase, the insider now directly owns 26,739,498 shares of the company’s stock, valued at approximately $847,642,086.60. This trade represents a 0.21 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have purchased 1,868,500 shares of company stock valued at $55,348,810 over the last 90 days. 5.30% of the stock is owned by insiders.

Institutional Trading of PBF Energy

A number of institutional investors and hedge funds have recently bought and sold shares of PBF. Fortitude Family Office LLC increased its stake in PBF Energy by 968.8% during the fourth quarter. Fortitude Family Office LLC now owns 1,165 shares of the oil and gas company’s stock worth $31,000 after purchasing an additional 1,056 shares during the period. Quarry LP purchased a new stake in PBF Energy during the third quarter worth about $48,000. Harbor Capital Advisors Inc. purchased a new stake in PBF Energy during the third quarter worth about $59,000. Golden State Wealth Management LLC purchased a new stake in PBF Energy during the fourth quarter worth about $61,000. Finally, EverSource Wealth Advisors LLC increased its stake 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 worth $65,000 after buying an additional 614 shares during the period. 96.29% of the stock is currently owned by hedge funds and other institutional investors.

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.