PBF Energy (NYSE:PBF) Given New $43.00 Price Target at Citigroup

Key Points

• Citigroup raised its price target on PBF Energy from $36 to $43 and maintained a "neutral" rating, but the analyst consensus remains negative with a "Reduce" rating and an average target of $35.92.
• Q1 results were mixed: GAAP EPS of -$0.88 missed estimates while revenue of $7.90B beat consensus, and management flagged ~ $350M of run‑rate savings plus a near‑term Martinez refinery restart as potential margin catalysts.
• Large insider selling has weighed on sentiment — Control Empresarial De Capital sold 1.1M shares (and insiders sold 11.32M shares in the past 90 days), which could pressure the stock despite operational improvements.

PBF Energy (NYSE:PBF - Get Free Report) had its price objective increased by equities researchers at Citigroup from $36.00 to $43.00 in a research note issued on Friday,Benzinga reports. The brokerage presently has a "neutral" rating on the oil and gas company's stock. Citigroup's price objective suggests a potential downside of 0.05% from the company's current price.

Several other equities analysts have also commented on the company. TD Cowen reduced their price target on PBF Energy from $41.00 to $36.00 and set a "sell" rating on the stock in a research report on Monday. Morgan Stanley upped their target price on PBF Energy from $27.00 to $34.00 and gave the company an "underweight" rating in a research report on Friday, April 24th. Piper Sandler upped their target price on PBF Energy from $41.00 to $42.00 and gave the company an "overweight" rating in a research report on Friday, February 13th. Wall Street Zen lowered PBF Energy from a "buy" rating to a "hold" rating in a research report on Saturday, April 18th. Finally, The Goldman Sachs Group started coverage on PBF Energy in a research report on Friday, April 10th. They issued a "neutral" rating and a $49.00 target price on the stock. Two investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and five have issued a Sell rating to the company's stock. According to MarketBeat, PBF Energy presently has a consensus rating of "Reduce" and an average price target of $35.92.

PBF Energy Stock Down 0.8%

PBF Energy stock traded down $0.34 during midday trading on Friday, hitting $43.02. 2,461,213 shares of the company were exchanged, compared to its average volume of 3,702,957. The company's fifty day moving average price is $42.56 and its 200-day moving average price is $35.90. The company has a market cap of $5.03 billion, a PE ratio of -29.27, a price-to-earnings-growth ratio of 0.18 and a beta of 0.25. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.21 and a quick ratio of 0.51. PBF Energy has a fifty-two week low of $16.47 and a fifty-two week high of $52.18.

PBF Energy (NYSE:PBF - Get Free Report) last released its quarterly earnings results on Thursday, April 30th. The oil and gas company reported ($0.88) EPS for the quarter, missing the consensus estimate of ($0.79) by ($0.09). The company had revenue of $7.90 billion for the quarter, compared to analyst estimates of $7.32 billion. PBF Energy had a negative return on equity of 8.86% and a negative net margin of 0.54%.The business's revenue was up 11.9% on a year-over-year basis. During the same period last year, the firm posted ($3.53) earnings per share. On average, research analysts predict that PBF Energy will post 5.92 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Control Empresarial De Capital sold 1,100,000 shares of the company's stock in a transaction on Wednesday, March 18th. The stock was sold at an average price of $46.21, for a total transaction of $50,831,000.00. Following the completion of the transaction, the insider directly owned 22,996,898 shares in the company, valued at $1,062,686,656.58. This represents a 4.56% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In the last ninety days, insiders sold 11,321,825 shares of company stock worth $499,356,267. 5.50% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in PBF. Smartleaf Asset Management LLC grew its stake in PBF Energy by 197.7% during the 3rd quarter. Smartleaf Asset Management LLC now owns 887 shares of the oil and gas company's stock worth $27,000 after buying an additional 589 shares during the last quarter. Torren Management LLC bought a new position in shares of PBF Energy in the fourth quarter worth $30,000. Los Angeles Capital Management LLC bought a new position in shares of PBF Energy in the fourth quarter worth $31,000. Leonteq Securities AG bought a new position in shares of PBF Energy in the first quarter worth $33,000. Finally, Deseret Mutual Benefit Administrators grew its stake in shares of PBF Energy by 62.3% in the third quarter. Deseret Mutual Benefit Administrators now owns 1,146 shares of the oil and gas company's stock worth $35,000 after purchasing an additional 440 shares in the last quarter. 96.29% of the stock is currently owned by institutional investors.

PBF Energy News Summary

Here are the key news stories impacting PBF Energy this week:

• Positive Sentiment: PBF reported strong underlying operating cash generation (income from operations ex‑special items of $299.6M), received a $106.5M insurance/installment related to the Martinez refinery fire, and declared a quarterly dividend — supports near‑term cash flow and shareholder returns. Read More.
• Positive Sentiment: Management signaled ~$350M of run‑rate savings from refinery optimization (RBI program) by end of 2026 and expects finished products from Martinez “this weekend” — a clear medium‑term margin improvement catalyst if realized. Read More.
• Positive Sentiment: Operational restart update: OPIS/Martinez FCC expected to restart in early May — near‑term production recovery reduces outage risk and incremental margin upside as units come back online. Read More.
• Neutral Sentiment: Top‑line resilience: revenue of $7.90B beat consensus and rose ~12% year‑over‑year, showing demand/throughput strength even while earnings were mixed. This supports valuation discussion but doesn’t eliminate earnings volatility. Read More.
• Neutral Sentiment: Governance: shareholders re‑elected the board and approved pay/incentives at the annual meeting — removes a near‑term governance overhang and keeps management’s strategy intact. Read More.
• Negative Sentiment: GAAP EPS missed expectations (reported loss of $0.88 vs. consensus loss near $0.79) largely because of a $208.8M mark‑to‑market derivative loss; net margin and ROE remain negative — highlights earnings volatility and can pressure multiples. Read More.
• Negative Sentiment: Market reaction and coverage flagged refinery delays as a drag despite operational commentary — headlines about continued Martinez disruption likely amplified selling pressure. Read More.
• Negative Sentiment: Insider selling: Control Empresarial De Capital has been a large seller (recently 362,000 shares on Apr 29 and smaller lots thereafter); big insider dispositions can sap sentiment even if the remaining stake is large. Read More.

About PBF Energy

PBF Energy, Inc is an independent petroleum refiner organized in 2008 and headquartered in Parsippany, New Jersey. The company began trading on the New York Stock Exchange in July 2012 under the ticker symbol PBF. Since its formation, PBF Energy has grown through acquisitions and operational optimization, positioning itself as a leading supplier of refined petroleum products in the United States.

The company owns and operates five refineries located along the U.S. Gulf Coast, East Coast and in the Pacific Northwest, with a combined crude oil processing capacity of approximately 900,000 barrels per day.

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