Wells Fargo & Company Issues Pessimistic Forecast for PBF Energy (NYSE:PBF) Stock Price

PBF Energy (NYSE:PBF - Get Free Report) had its price objective dropped by analysts at Wells Fargo & Company from $25.00 to $22.00 in a research report issued on Thursday,Benzinga reports. The firm currently has an "equal weight" rating on the oil and gas company's stock. Wells Fargo & Company's target price points to a potential upside of 6.31% from the company's current price.

Several other research analysts also recently commented on PBF. The Goldman Sachs Group reduced their price target on shares of PBF Energy from $38.00 to $34.00 and set a "neutral" rating on the stock in a research note on Tuesday, December 10th. TD Cowen reduced their price target on shares of PBF Energy from $19.00 to $17.00 and set a "sell" rating on the stock in a research note on Tuesday. UBS Group reduced their price target on shares of PBF Energy from $29.00 to $26.00 and set a "neutral" rating on the stock in a research note on Wednesday, February 19th. Mizuho downgraded shares of PBF Energy from a "neutral" rating to an "underperform" rating and reduced their price target for the stock from $33.00 to $31.00 in a research note on Monday, December 16th. Finally, Piper Sandler dropped their target price on shares of PBF Energy from $24.00 to $23.00 and set an "underweight" rating on the stock in a report on Friday, March 7th. Seven analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $27.36.

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PBF Energy Trading Up 5.2 %

Shares of PBF traded up $1.03 during midday trading on Thursday, hitting $20.70. The stock had a trading volume of 2,915,606 shares, compared to its average volume of 2,099,949. PBF Energy has a 1 year low of $18.97 and a 1 year high of $62.88. The firm has a market cap of $2.39 billion, a PE ratio of -4.39 and a beta of 1.62. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.25 and a quick ratio of 0.54. The stock's 50 day moving average is $25.93 and its 200 day moving average is $29.10.

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. As a group, analysts forecast that PBF Energy will post -1.12 EPS for the current fiscal year.

Insider Buying and Selling

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

Hedge Funds Weigh In On PBF Energy

Institutional investors have recently made changes to their positions in the company. Fortitude Family Office LLC increased its holdings in shares of 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 valued at $31,000 after purchasing an additional 1,056 shares in the last quarter. Quarry LP purchased a new position in shares of PBF Energy during the 3rd quarter valued at approximately $48,000. Golden State Wealth Management LLC purchased a new position in shares of PBF Energy during the 4th quarter valued at approximately $61,000. EverSource Wealth Advisors LLC increased its holdings in shares of PBF Energy by 33.2% during the 4th quarter. EverSource Wealth Advisors LLC now owns 2,463 shares of the oil and gas company's stock valued at $65,000 after purchasing an additional 614 shares in the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of PBF Energy during the 4th quarter valued at approximately $68,000. 96.29% of the stock is 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.