PBF Energy (NYSE:PBF) Price Target Lowered to $35.00 at JPMorgan Chase & Co.

PBF Energy (NYSE:PBF) had its price objective dropped by equities researchers at JPMorgan Chase & Co. from $36.00 to $35.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage currently has a “neutral” rating on the oil and gas company’s stock. JPMorgan Chase & Co.‘s target price points to a potential upside of 26.40% from the company’s current price.

Other analysts have also issued reports about the stock. Wells Fargo & Company lowered shares of PBF Energy from an “overweight” rating to an “equal weight” rating and cut their target price for the company from $39.00 to $34.00 in a research report on Monday, December 9th. Morgan Stanley decreased their target price on PBF Energy from $48.00 to $38.00 and set an “equal weight” rating on the stock in a report on Monday, September 16th. BMO Capital Markets lowered PBF Energy from an “outperform” rating to a “market perform” rating and cut their price target for the company from $42.00 to $35.00 in a report on Friday, October 4th. The Goldman Sachs Group decreased their price objective on PBF Energy from $38.00 to $34.00 and set a “neutral” rating on the stock in a research note on Tuesday, December 10th. Finally, StockNews.com downgraded PBF Energy from a “hold” rating to a “sell” rating in a research note on Monday, November 4th. Seven analysts have rated the stock with a sell rating and nine have issued a hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $32.00.

PBF Energy Trading Up 2.4 %

Shares of NYSE:PBF traded up $0.64 during midday trading on Friday, hitting $27.69. 942,581 shares of the stock traded hands, compared to its average volume of 1,637,704. The company has a quick ratio of 0.65, a current ratio of 1.34 and a debt-to-equity ratio of 0.21. The business’s 50 day moving average is $29.12 and its two-hundred day moving average is $33.50. The stock has a market capitalization of $3.19 billion, a PE ratio of -10.69 and a beta of 1.61. PBF Energy has a one year low of $24.21 and a one year high of $62.88.

PBF Energy (NYSE:PBF) last posted its quarterly earnings data on Thursday, October 31st. The oil and gas company reported ($1.50) earnings per share for the quarter, missing the consensus estimate of ($1.41) by ($0.09). PBF Energy had a negative net margin of 0.84% and a negative return on equity of 2.84%. The firm had revenue of $8.38 billion for the quarter, compared to the consensus estimate of $8.27 billion. During the same period in the previous year, the firm posted $6.61 earnings per share. The business’s revenue was down 21.9% compared to the same quarter last year. As a group, research analysts forecast that PBF Energy will post -2.87 earnings per share for the current year.

Insider Activity

In other PBF Energy news, insider Control Empresarial De Capital bought 287,100 shares of the business’s stock in a transaction on Wednesday, October 23rd. The shares were acquired at an average price of $31.91 per share, with a total value of $9,161,361.00. Following the transaction, the insider now owns 24,751,498 shares of the company’s stock, valued at approximately $789,820,301.18. This trade represents a 1.17 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Over the last quarter, insiders purchased 3,369,600 shares of company stock valued at $102,820,721. Corporate insiders own 6.20% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. National Bank of Canada FI acquired a new position in PBF Energy during the 2nd quarter valued at approximately $26,000. Fortitude Family Office LLC grew its position in PBF Energy by 968.8% during the 4th 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 acquired a new stake in PBF Energy during the 3rd quarter worth about $48,000. Harbor Capital Advisors Inc. purchased a new position in shares of PBF Energy during the 3rd quarter valued at about $59,000. Finally, Blue Trust Inc. boosted its stake in shares of PBF Energy by 1,291.1% in the third quarter. Blue Trust Inc. now owns 2,184 shares of the oil and gas company’s stock worth $68,000 after buying an additional 2,027 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.