PBF Energy (NYSE:PBF) Downgraded to "Equal Weight" Rating by Wells Fargo & Company

PBF Energy (NYSE:PBF - Get Free Report) was downgraded by equities research analysts at Wells Fargo & Company from an "overweight" rating to an "equal weight" rating in a note issued to investors on Monday, MarketBeat reports. They presently have a $34.00 price target on the oil and gas company's stock, down from their previous price target of $39.00. Wells Fargo & Company's target price would suggest a potential upside of 11.48% from the company's current price.

A number of other equities research analysts also recently weighed in on the company. The Goldman Sachs Group cut their price target on PBF Energy from $45.00 to $39.00 and set a "neutral" rating for the company in a research note on Friday, October 4th. Scotiabank dropped their price target on shares of PBF Energy from $45.00 to $31.00 and set a "sector perform" rating on the stock in a research note on Thursday, October 10th. Morgan Stanley reduced their price objective on shares of PBF Energy from $48.00 to $38.00 and set an "equal weight" rating for the company in a research note on Monday, September 16th. Mizuho lowered their target price on shares of PBF Energy from $36.00 to $33.00 and set a "neutral" rating on the stock in a research report on Monday, November 4th. Finally, UBS Group reduced their price target on PBF Energy from $57.00 to $44.00 and set a "neutral" rating for the company in a research report on Tuesday, August 13th. Five investment analysts have rated the stock with a sell rating and eleven have assigned a hold rating to the company. Based on data from MarketBeat, PBF Energy presently has an average rating of "Hold" and an average target price of $33.73.

PBF Energy Stock Up 0.9 %

Shares of PBF stock traded up $0.28 during trading on Monday, hitting $30.50. 1,718,474 shares of the company were exchanged, compared to its average volume of 2,152,260. The business's 50-day simple moving average is $31.44 and its 200 day simple moving average is $36.47. PBF Energy has a twelve month low of $27.94 and a twelve month high of $62.88. The firm has a market capitalization of $3.51 billion, a price-to-earnings ratio of -11.67 and a beta of 1.57. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.65 and a current ratio of 1.34.

PBF Energy (NYSE:PBF - Get Free Report) last issued its earnings results on Thursday, October 31st. The oil and gas company reported ($1.50) earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 company had revenue of $8.38 billion for the quarter, compared to analyst estimates of $8.27 billion. During the same period last year, the business earned $6.61 EPS. The company's quarterly revenue was down 21.9% on a year-over-year basis. As a group, analysts forecast that PBF Energy will post -2.86 EPS for the current fiscal year.

Insider Activity at PBF Energy

In related news, insider Control Empresarial De Capital bought 670,000 shares of the company's stock in a transaction dated Wednesday, September 11th. The stock was acquired at an average cost of $31.29 per share, with a total value of $20,964,300.00. Following the acquisition, the insider now owns 22,527,398 shares in the company, valued at approximately $704,882,283.42. This represents a 3.07 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders have bought 4,238,100 shares of company stock worth $132,147,631 over the last three months. Company insiders own 6.20% of the company's stock.

Institutional Investors Weigh In On PBF Energy

Large investors have recently bought and sold shares of the business. National Bank of Canada FI acquired a new stake in shares of PBF Energy in the 2nd quarter valued at $26,000. Quarry LP acquired a new position in shares of PBF Energy during the third quarter worth about $48,000. CWM LLC increased its stake in PBF Energy by 108.6% in the 2nd quarter. CWM LLC now owns 1,093 shares of the oil and gas company's stock valued at $50,000 after buying an additional 569 shares during the last quarter. Harbor Capital Advisors Inc. acquired a new stake in shares of PBF Energy in the 3rd quarter valued at approximately $59,000. Finally, Blue Trust Inc. boosted its stake in shares of PBF Energy by 1,291.1% during the 3rd quarter. Blue Trust Inc. now owns 2,184 shares of the oil and gas company's stock worth $68,000 after acquiring an additional 2,027 shares during the period. 96.29% of the stock is currently owned by institutional investors.

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.