JPMorgan Chase & Co. Issues Pessimistic Forecast for PBF Energy (NYSE:PBF) Stock Price

PBF Energy (NYSE:PBF - Get Free Report) had its target price reduced by stock analysts at JPMorgan Chase & Co. from $31.00 to $29.00 in a report issued on Tuesday,Benzinga reports. The firm currently has a "neutral" rating on the oil and gas company's stock. JPMorgan Chase & Co.'s target price would indicate a potential upside of 42.79% from the company's previous close.

Other analysts also recently issued research reports about the stock. TD Cowen decreased their price objective on shares of PBF Energy from $19.00 to $17.00 and set a "sell" rating for the company in a research note on Tuesday. Wells Fargo & Company decreased their price target on PBF Energy from $34.00 to $25.00 and set an "equal weight" rating for the company in a research note on Friday, February 14th. Piper Sandler cut their price objective on PBF Energy from $24.00 to $23.00 and set an "underweight" rating on the stock in a research report on Friday. UBS Group decreased their target price on PBF Energy from $29.00 to $26.00 and set a "neutral" rating for the company in a research report on Wednesday, February 19th. Finally, The Goldman Sachs Group lowered their target price on shares of PBF Energy from $38.00 to $34.00 and set a "neutral" rating for the company in a research note on Tuesday, December 10th. Seven investment analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $28.55.

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PBF Energy Trading Down 2.4 %

NYSE:PBF traded down $0.51 during midday trading on Tuesday, hitting $20.31. 473,768 shares of the company traded hands, compared to its average volume of 2,095,296. The firm has a market capitalization of $2.34 billion, a P/E ratio of -4.31 and a beta of 1.62. The firm's fifty day moving average is $26.46 and its 200-day moving average is $29.42. PBF Energy has a 12-month low of $18.97 and a 12-month high of $62.88. The company has a current ratio of 1.25, a quick ratio of 0.54 and a debt-to-equity ratio of 0.26.

PBF Energy (NYSE:PBF - Get Free Report) last announced its earnings results on Thursday, February 13th. The oil and gas company reported ($2.82) earnings per share for the quarter, missing the consensus estimate 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 during the quarter, compared to analysts' expectations of $7.25 billion. On average, sell-side analysts predict that PBF Energy will post -1.12 EPS for the current year.

Insider Transactions at PBF Energy

In other news, insider Control Empresarial De Capital purchased 155,000 shares of the stock in a transaction dated Monday, March 3rd. The shares were acquired at an average cost of $20.20 per share, for a total transaction of $3,131,000.00. Following the acquisition, the insider now owns 30,249,998 shares of the company's stock, valued at approximately $611,049,959.60. This represents a 0.52 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In the last three months, insiders purchased 1,062,500 shares of company stock valued at $28,442,290. Corporate insiders own 5.30% of the company's stock.

Institutional Investors Weigh In On PBF Energy

Hedge funds and other institutional investors have recently bought and sold shares of the company. Xponance Inc. increased 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 valued at $375,000 after buying an additional 364 shares in the last quarter. Yousif Capital Management LLC grew its stake in shares of PBF Energy by 1.1% during the fourth quarter. Yousif Capital Management LLC now owns 40,836 shares of the oil and gas company's stock worth $1,084,000 after acquiring an additional 459 shares during the last quarter. CANADA LIFE ASSURANCE Co increased its holdings in shares of PBF Energy by 0.7% during the fourth quarter. CANADA LIFE ASSURANCE Co now owns 72,672 shares of the oil and gas company's stock valued at $1,931,000 after acquiring an additional 480 shares in the last quarter. Verdence Capital Advisors LLC raised its position in shares of PBF Energy by 4.4% in the 3rd quarter. Verdence Capital Advisors LLC now owns 12,915 shares of the oil and gas company's stock valued at $400,000 after purchasing an additional 543 shares during the last quarter. Finally, Farther Finance Advisors LLC boosted its stake in PBF Energy by 27.9% in the 3rd quarter. Farther Finance Advisors LLC now owns 2,626 shares of the oil and gas company's stock worth $81,000 after purchasing an additional 573 shares in 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.

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