Wells Fargo & Company Has Lowered Expectations for PBF Energy (NYSE:PBF) Stock Price

PBF Energy (NYSE:PBF) had its price target decreased by analysts at Wells Fargo & Company from $34.00 to $25.00 in a research note issued on Friday,Benzinga reports. The firm currently has an “equal weight” rating on the oil and gas company’s stock. Wells Fargo & Company‘s price target points to a potential upside of 7.60% from the stock’s current price.

PBF has been the topic of a number of other reports. Mizuho lowered PBF Energy from a “neutral” rating to an “underperform” rating and decreased their price objective for the company from $33.00 to $31.00 in a research note on Monday, December 16th. JPMorgan Chase & Co. lowered their price target on PBF Energy from $36.00 to $35.00 and set a “neutral” rating on the stock in a report on Friday, January 10th. Bank of America started coverage on PBF Energy in a report on Thursday, October 17th. They issued an “underperform” rating and a $25.00 price target on the stock. StockNews.com cut PBF Energy from a “hold” rating to a “sell” rating in a report on Monday, November 4th. Finally, TD Cowen cut 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 report on Friday, December 20th. Seven investment analysts have rated the stock with a sell rating and eight have given a hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $31.18.

PBF Energy Stock Performance

NYSE:PBF opened at $23.24 on Friday. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.65 and a current ratio of 1.34. PBF Energy has a 52-week low of $22.03 and a 52-week high of $62.88. The firm has a market cap of $2.67 billion, a price-to-earnings ratio of -8.97 and a beta of 1.60. The business’s fifty day moving average is $28.14 and its 200 day moving average is $31.09.

PBF Energy (NYSE:PBF) last released its quarterly earnings data on Thursday, February 13th. The oil and gas company reported ($2.82) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.80) by ($1.02). PBF Energy had a negative net margin of 0.84% and a negative return on equity of 2.84%. The company had revenue of $7.35 billion for the quarter, compared to the consensus estimate of $7.25 billion. Research analysts predict that PBF Energy will post -3.75 EPS for the current year.

Insider Buying and Selling

In related news, insider Control Empresarial De Capital purchased 150,000 shares of PBF Energy stock in a transaction that occurred on Thursday, February 6th. The shares were acquired at an average cost of $28.70 per share, for a total transaction of $4,305,000.00. Following the transaction, the insider now directly owns 29,505,998 shares in the company, valued at $846,822,142.60. The trade was a 0.51 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders have purchased a total of 1,968,500 shares of company stock worth $58,476,810 in the last ninety days. 5.30% of the stock is owned by insiders.

Hedge Funds Weigh In On PBF Energy

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Xponance Inc. grew its position in PBF Energy by 2.6% during the 4th quarter. Xponance Inc. now owns 14,123 shares of the oil and gas company’s stock worth $375,000 after acquiring an additional 364 shares during the last quarter. Yousif Capital Management LLC grew its position in shares of PBF Energy by 1.1% in the 4th quarter. Yousif Capital Management LLC now owns 40,836 shares of the oil and gas company’s stock worth $1,084,000 after buying an additional 459 shares during the last quarter. Leavell Investment Management Inc. grew its position in shares of PBF Energy by 3.0% in the 3rd quarter. Leavell Investment Management Inc. now owns 15,770 shares of the oil and gas company’s stock worth $488,000 after buying 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 worth $1,931,000 after buying an additional 480 shares during the last quarter. Finally, Nisa Investment Advisors LLC grew its position in shares of PBF Energy by 1.7% in the 3rd quarter. Nisa Investment Advisors LLC now owns 28,853 shares of the oil and gas company’s stock worth $893,000 after buying an additional 485 shares during the last quarter. 96.29% of the stock is currently owned by 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.