PBF Energy (NYSE:PBF) Given New $23.00 Price Target at Piper Sandler

PBF Energy (NYSE:PBF - Get Free Report) had its price target lowered by stock analysts at Piper Sandler from $24.00 to $23.00 in a research report issued to clients and investors on Friday, Marketbeat.com reports. The brokerage currently has an "underweight" rating on the oil and gas company's stock. Piper Sandler's target price indicates a potential upside of 14.32% from the stock's current price.

Other analysts have also issued reports about the company. TD Cowen lowered PBF Energy from a "hold" rating to a "sell" rating and dropped their target price for the stock from $27.00 to $20.00 in a report on Friday, December 20th. UBS Group cut their target price on shares of PBF Energy from $29.00 to $26.00 and set a "neutral" rating for the company in a report on Wednesday, February 19th. Mizuho lowered shares of PBF Energy from a "neutral" rating to an "underperform" rating and dropped their price target for the company from $33.00 to $31.00 in a research report on Monday, December 16th. Wells Fargo & Company decreased their price objective on shares of PBF Energy from $34.00 to $25.00 and set an "equal weight" rating for the company in a research report on Friday, February 14th. Finally, JPMorgan Chase & Co. lowered their price target on PBF Energy from $36.00 to $35.00 and set a "neutral" rating on the stock in a research report on Friday, January 10th. Seven equities research analysts have rated the stock with a sell rating and eight have issued a hold rating to the stock. Based on data from MarketBeat.com, PBF Energy presently has an average rating of "Hold" and a consensus target price of $28.55.

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PBF Energy Stock Performance

Shares of NYSE:PBF traded down $0.70 during trading on Friday, hitting $20.12. The stock had a trading volume of 2,479,152 shares, compared to its average volume of 2,103,014. The company has a quick ratio of 0.54, a current ratio of 1.25 and a debt-to-equity ratio of 0.26. PBF Energy has a 12-month low of $18.97 and a 12-month high of $62.88. The stock has a 50-day simple moving average of $26.46 and a two-hundred day simple moving average of $29.42. The stock has a market capitalization of $2.32 billion, a price-to-earnings ratio of -4.27 and a beta of 1.62.

PBF Energy (NYSE:PBF - Get Free Report) last issued its earnings results on Thursday, February 13th. The oil and gas company reported ($2.82) earnings per share (EPS) for the quarter, missing the consensus estimate 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 business had revenue of $7.35 billion for the quarter, compared to analysts' expectations of $7.25 billion. On average, equities research analysts expect that PBF Energy will post -1.12 earnings per share for the current fiscal year.

Insider Activity at PBF Energy

In related news, insider Control Empresarial De Capital bought 70,000 shares of the stock in a transaction on Thursday, December 26th. The stock was bought at an average price of $25.56 per share, with a total value of $1,789,200.00. Following the completion of the purchase, the insider now directly owns 28,884,998 shares in the company, valued at $738,300,548.88. This represents a 0.24 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Over the last three months, insiders have acquired 1,062,500 shares of company stock worth $28,442,290. Insiders own 5.30% of the company's stock.

Institutional Investors Weigh In On PBF Energy

Institutional investors and hedge funds have recently made changes to their positions in the stock. Fortitude Family Office LLC lifted its stake 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 acquiring an additional 1,056 shares in the last quarter. Quarry LP purchased a new position in shares of PBF Energy in the 3rd quarter valued at $48,000. Harbor Capital Advisors Inc. acquired a new stake in PBF Energy during the 3rd quarter worth $59,000. Golden State Wealth Management LLC acquired a new stake in PBF Energy during the 4th quarter worth $61,000. Finally, EverSource Wealth Advisors LLC lifted its position in PBF Energy by 33.2% in the fourth quarter. EverSource Wealth Advisors LLC now owns 2,463 shares of the oil and gas company's stock valued at $65,000 after acquiring an additional 614 shares during the last quarter. 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.