Piper Sandler Has Lowered Expectations for PBF Energy (NYSE:PBF) Stock Price

PBF Energy (NYSE:PBF) had its price target dropped by equities researchers at Piper Sandler from $24.00 to $23.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage presently has an “underweight” rating on the oil and gas company’s stock. Piper Sandler’s price objective indicates a potential upside of 8.17% from the stock’s previous close.

PBF has been the topic of a number of other research reports. Wells Fargo & Company dropped their price target on PBF Energy from $34.00 to $25.00 and set an “equal weight” rating on the stock in a research report on Friday, February 14th. The Goldman Sachs Group dropped their price target on PBF Energy from $38.00 to $34.00 and set a “neutral” rating on the stock in a research report on Tuesday, December 10th. Mizuho downgraded PBF Energy from a “neutral” rating to an “underperform” rating and dropped their price objective for the company from $33.00 to $31.00 in a research report on Monday, December 16th. JPMorgan Chase & Co. decreased 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 PBF Energy from a “hold” rating to a “sell” rating and decreased their price target for the company from $27.00 to $20.00 in a research note on Friday, December 20th. Seven 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 company has a consensus rating of “Hold” and a consensus target price of $29.36.

PBF Energy Stock Performance

PBF stock opened at $21.26 on Friday. 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 business’s fifty day simple moving average is $26.55 and its two-hundred day simple moving average is $29.55. PBF Energy has a twelve month low of $18.97 and a twelve month high of $62.88. The firm has a market cap of $2.45 billion, a price-to-earnings ratio of -4.51 and a beta of 1.62.

PBF Energy (NYSE:PBF) last released its earnings results on Thursday, February 13th. The oil and gas company reported ($2.82) earnings per share for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $7.25 billion. Analysts predict that PBF Energy will post -1.12 earnings per share for the current year.

Insider Activity

In other news, insider Control Empresarial De Capital purchased 341,500 shares of the company’s stock in a transaction that occurred on Wednesday, December 18th. The stock was purchased at an average cost of $26.86 per share, for a total transaction of $9,172,690.00. Following the completion of the transaction, the insider now owns 28,814,998 shares of the company’s stock, valued at $773,970,846.28. This trade represents a 1.20 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Insiders acquired 1,062,500 shares of company stock worth $28,442,290 over the last three months. 5.30% of the stock is currently owned by corporate insiders.

Institutional Trading of PBF Energy

Several large investors have recently made changes to their positions in the company. Phocas Financial Corp. purchased a new stake in shares of PBF Energy during the fourth quarter worth approximately $254,000. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in PBF Energy in the 4th quarter valued at $3,132,000. GF Fund Management CO. LTD. purchased a new stake in PBF Energy in the 4th quarter valued at $803,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in PBF Energy by 7.5% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 249,415 shares of the oil and gas company’s stock valued at $6,622,000 after buying an additional 17,404 shares in the last quarter. Finally, iSAM Funds UK Ltd purchased a new stake in PBF Energy in the 4th quarter valued at $508,000. 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.