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

PBF Energy (NYSE:PBF) had its price target dropped by equities researchers at UBS Group from $29.00 to $26.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage currently has a “neutral” rating on the oil and gas company’s stock. UBS Group’s price objective points to a potential upside of 8.50% from the company’s current price.

PBF has been the topic of several other research reports. Mizuho cut shares of PBF Energy from a “neutral” rating to an “underperform” rating and lowered their target price for the company from $33.00 to $31.00 in a research note on Monday, December 16th. JPMorgan Chase & Co. lowered their target price on shares of PBF Energy from $36.00 to $35.00 and set a “neutral” rating on the stock in a research note on Friday, January 10th. Wells Fargo & Company reduced their price target on shares of PBF Energy from $34.00 to $25.00 and set an “equal weight” rating for the company in a research report on Friday, February 14th. The Goldman Sachs Group reduced their price target on shares of PBF Energy from $38.00 to $34.00 and set a “neutral” rating for the company in a research report on Tuesday, December 10th. Finally, TD Cowen lowered shares of PBF Energy from a “hold” rating to a “sell” rating and reduced their price target for the company from $27.00 to $20.00 in a research report 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 data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $29.55.

PBF Energy Stock Performance

PBF Energy stock opened at $23.96 on Wednesday. The stock’s 50 day simple moving average is $27.86 and its two-hundred day simple moving average is $30.82. PBF Energy has a fifty-two week low of $22.03 and a fifty-two week high of $62.88. The stock has a market cap of $2.76 billion, a price-to-earnings ratio of -5.09 and a beta of 1.60. 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 posted its quarterly earnings results on Thursday, February 13th. The oil and gas company reported ($2.82) EPS for the quarter, missing analysts’ consensus estimates of ($1.80) by ($1.02). PBF Energy had a negative net margin of 1.61% and a negative return on equity of 7.40%. The firm had revenue of $7.35 billion for the quarter, compared to analysts’ expectations of $7.25 billion. As a group, analysts expect that PBF Energy will post -0.69 earnings per share for the current fiscal year.

Insider Buying and Selling at PBF Energy

In other news, insider Control Empresarial De Capital bought 40,000 shares of the stock in a transaction dated Monday, February 3rd. The stock was purchased at an average cost of $27.47 per share, for a total transaction of $1,098,800.00. Following the transaction, the insider now owns 29,355,998 shares of the company’s stock, valued at $806,409,265.06. The trade was a 0.14 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders purchased a total of 1,868,500 shares of company stock valued at $55,348,810 in the last three months. 6.20% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On PBF Energy

A number of hedge funds have recently bought and sold shares of the business. GF Fund Management CO. LTD. purchased a new position in shares of PBF Energy in the 4th quarter worth $803,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in PBF Energy by 7.5% during the fourth 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 purchasing an additional 17,404 shares during the period. iSAM Funds UK Ltd bought a new stake in shares of PBF Energy in the 4th quarter valued at approximately $508,000. Vident Advisory LLC boosted its holdings in shares of PBF Energy by 9.5% in the 4th quarter. Vident Advisory LLC now owns 8,022 shares of the oil and gas company’s stock worth $213,000 after purchasing an additional 698 shares during the period. Finally, Towle & Co. increased its position in shares of PBF Energy by 34.2% during the 4th quarter. Towle & Co. now owns 535,451 shares of the oil and gas company’s stock valued at $14,216,000 after purchasing an additional 136,394 shares during the last quarter. Hedge funds and other institutional investors own 96.29% of the company’s stock.

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.