TD Cowen Cuts PBF Energy (NYSE:PBF) Price Target to $45.00

PBF Energy (NYSE:PBF - Get Free Report) had its price objective cut by research analysts at TD Cowen from $54.00 to $45.00 in a report released on Friday, MarketBeat reports. The brokerage currently has a "hold" rating on the oil and gas company's stock. TD Cowen's target price indicates a potential downside of 13.09% from the stock's current price.

Several other equities research analysts have also commented on the company. Scotiabank upped their target price on PBF Energy from $39.00 to $56.00 and gave the company a "sector perform" rating in a research report on Thursday, April 11th. Bank of America upgraded shares of PBF Energy from a "neutral" rating to a "buy" rating and lifted their price objective for the company from $52.00 to $74.00 in a research note on Friday, March 15th. Piper Sandler lifted their price target on shares of PBF Energy from $50.00 to $61.00 and gave the company a "neutral" rating in a research note on Friday, April 5th. Mizuho lowered shares of PBF Energy from a "buy" rating to a "neutral" rating and raised their price objective for the company from $53.00 to $58.00 in a research note on Friday, March 22nd. Finally, Citigroup assumed coverage on shares of PBF Energy in a research report on Wednesday, January 24th. They issued a "neutral" rating for the company. Nine investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, PBF Energy currently has a consensus rating of "Hold" and a consensus target price of $57.91.

PBF Energy Price Performance

Shares of PBF traded down $0.82 during trading hours on Friday, hitting $51.78. 1,899,996 shares of the company were exchanged, compared to its average volume of 2,146,628. The company has a market cap of $6.19 billion, a price-to-earnings ratio of 3.15 and a beta of 1.73. The firm's fifty day moving average is $54.99 and its 200 day moving average is $48.93. PBF Energy has a fifty-two week low of $31.25 and a fifty-two week high of $62.88. The company has a quick ratio of 0.81, a current ratio of 1.56 and a debt-to-equity ratio of 0.19.

PBF Energy (NYSE:PBF - Get Free Report) last announced its earnings results on Thursday, February 15th. The oil and gas company reported ($0.41) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.08 by ($0.49). The company had revenue of $9.14 billion for the quarter, compared to the consensus estimate of $8.65 billion. PBF Energy had a return on equity of 23.69% and a net margin of 5.59%. The firm's revenue for the quarter was down 15.7% on a year-over-year basis. During the same period in the prior year, the business earned $4.41 earnings per share. On average, equities analysts anticipate that PBF Energy will post 7.39 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, SVP Connor Thomas L. O sold 40,000 shares of the stock in a transaction dated Tuesday, March 19th. The stock was sold at an average price of $55.87, for a total transaction of $2,234,800.00. Following the transaction, the senior vice president now directly owns 160,338 shares in the company, valued at approximately $8,958,084.06. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, SVP Connor Thomas L. O sold 40,000 shares of the business's stock in a transaction dated Tuesday, March 19th. The stock was sold at an average price of $55.87, for a total value of $2,234,800.00. Following the completion of the sale, the senior vice president now owns 160,338 shares of the company's stock, valued at approximately $8,958,084.06. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP Paul T. Davis sold 100,000 shares of the stock in a transaction that occurred on Monday, March 25th. The shares were sold at an average price of $56.37, for a total value of $5,637,000.00. Following the sale, the senior vice president now directly owns 110,978 shares of the company's stock, valued at approximately $6,255,829.86. The disclosure for this sale can be found here. Over the last three months, insiders have sold 180,000 shares of company stock worth $10,074,600. Insiders own 5.30% of the company's stock.

Institutional Trading of PBF Energy

Institutional investors have recently added to or reduced their stakes in the business. Fidelis Capital Partners LLC purchased a new stake in PBF Energy during the first quarter valued at $325,000. BNP Paribas Financial Markets boosted its holdings in shares of PBF Energy by 67.9% in the first quarter. BNP Paribas Financial Markets now owns 228,011 shares of the oil and gas company's stock worth $13,127,000 after buying an additional 92,176 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its holdings in PBF Energy by 6.7% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 55,073 shares of the oil and gas company's stock valued at $3,171,000 after buying an additional 3,474 shares during the last quarter. Retirement Systems of Alabama grew its position in shares of PBF Energy by 0.3% during the 1st quarter. Retirement Systems of Alabama now owns 136,573 shares of the oil and gas company's stock valued at $7,863,000 after acquiring an additional 359 shares during the period. Finally, Norden Group LLC purchased a new position in PBF Energy during the first quarter valued at $212,000. 96.29% of the stock is currently 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.