The Goldman Sachs Group Issues Pessimistic Forecast for PBF Energy (NYSE:PBF) Stock Price

PBF Energy (NYSE:PBF - Get Free Report) had its price target lowered by equities researchers at The Goldman Sachs Group from $28.00 to $23.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm presently has a "neutral" rating on the oil and gas company's stock. The Goldman Sachs Group's price objective would indicate a potential upside of 20.26% from the company's current price.

Several other analysts also recently weighed in on PBF. Wells Fargo & Company dropped their target price on shares of PBF Energy from $25.00 to $22.00 and set an "equal weight" rating on the stock in a research report on Thursday, March 13th. UBS Group dropped their price objective on shares of PBF Energy from $29.00 to $26.00 and set a "neutral" rating on the stock in a report on Wednesday, February 19th. Morgan Stanley lowered their price target on PBF Energy from $31.00 to $28.00 and set an "equal weight" rating for the company in a research report on Friday, March 14th. JPMorgan Chase & Co. cut their price objective on PBF Energy from $31.00 to $29.00 and set a "neutral" rating on the stock in a report on Tuesday, March 11th. Finally, Piper Sandler decreased their target price on PBF Energy from $24.00 to $23.00 and set an "underweight" rating for the company in a report on Friday, March 7th. Seven investment analysts have rated the stock with a sell rating and eight have given a hold rating to the stock. According to data from MarketBeat, PBF Energy currently has an average rating of "Hold" and a consensus price target of $26.36.

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PBF Energy Stock Up 0.8 %

NYSE PBF traded up $0.16 during midday trading on Thursday, hitting $19.13. 2,488,960 shares of the company traded hands, compared to its average volume of 2,206,263. The company has a market cap of $2.21 billion, a PE ratio of -4.06 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. PBF Energy has a 52 week low of $18.60 and a 52 week high of $62.88. The company's 50-day simple moving average is $24.28 and its 200-day simple moving average is $28.19.

PBF Energy (NYSE:PBF - Get Free Report) last announced its 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 return on equity of 7.40% and a negative net margin of 1.61%. The firm had revenue of $7.35 billion during the quarter, compared to the consensus estimate of $7.25 billion. As a group, equities research analysts forecast that PBF Energy will post -1.12 earnings per share for the current year.

Insider Activity

In other news, insider Control Empresarial De Capital acquired 100,000 shares of the business's stock in a transaction that occurred on Wednesday, January 22nd. The stock was purchased at an average cost of $29.60 per share, for a total transaction of $2,960,000.00. Following the completion of the transaction, the insider now owns 29,084,998 shares in the company, valued at approximately $860,915,940.80. This trade represents a 0.35 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders purchased 651,000 shares of company stock worth $17,480,400 over the last ninety days. Corporate insiders own 5.30% of the company's stock.

Institutional Trading of PBF Energy

Several institutional investors have recently made changes to their positions in the company. Hara Capital LLC raised its position in PBF Energy by 7.8% in the fourth quarter. Hara Capital LLC now owns 545,595 shares of the oil and gas company's stock valued at $14,486,000 after purchasing an additional 39,278 shares during the period. Phocas Financial Corp. acquired a new position in PBF Energy in the fourth quarter valued at about $254,000. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in shares of PBF Energy in the 4th quarter valued at approximately $3,132,000. GF Fund Management CO. LTD. acquired a new position in shares of PBF Energy in the 4th quarter worth approximately $803,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of PBF Energy by 7.5% during 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 worth $6,622,000 after purchasing an additional 17,404 shares during the period. Hedge funds and other institutional investors own 96.29% of the company's stock.

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.