PBF Energy (NYSE:PBF) Price Target Cut to $36.00 by Analysts at TD Cowen

Key Points

• TD Cowen cut its price target on PBF Energy from $41.00 to $36.00 and reiterated a sell rating, implying about a 12.2% downside from the prior close.
• Analyst consensus is weak — the stock's average rating is listed as "Reduce" with an average price target of $35.38 (2 buys, 8 holds, 5 sells).
• Insiders have been net sellers: Control Empresarial De Capital sold 1.1M shares for ~$50.8M on March 18, and insiders have sold about 11.05M shares (~$486.7M) over the past three months.

PBF Energy (NYSE:PBF - Get Free Report) had its price objective dropped by equities research analysts at TD Cowen from $41.00 to $36.00 in a research note issued on Monday,Benzinga reports. The brokerage presently has a "sell" rating on the oil and gas company's stock. TD Cowen's price target would suggest a potential downside of 12.23% from the stock's previous close.

A number of other equities analysts also recently weighed in on the stock. Mizuho boosted their price target on shares of PBF Energy from $38.00 to $45.00 and gave the stock a "neutral" rating in a report on Tuesday, March 17th. Wall Street Zen downgraded shares of PBF Energy from a "buy" rating to a "hold" rating in a report on Saturday, April 18th. Morgan Stanley boosted their price target on shares of PBF Energy from $27.00 to $34.00 and gave the stock an "underweight" rating in a report on Friday. Weiss Ratings reissued a "sell (d)" rating on shares of PBF Energy in a report on Monday, December 29th. Finally, Scotiabank increased their target price on shares of PBF Energy from $28.00 to $34.00 and gave the stock a "sector perform" rating in a research report on Wednesday, April 22nd. Two analysts have rated the stock with a Buy rating, eight have issued a Hold rating and five have assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Reduce" and an average price target of $35.38.

PBF Energy Stock Up 0.7%

Shares of NYSE PBF traded up $0.28 during trading on Monday, hitting $41.02. The stock had a trading volume of 1,351,102 shares, compared to its average volume of 3,666,808. The firm has a fifty day moving average of $41.89 and a two-hundred day moving average of $35.62. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.21 and a quick ratio of 0.51. The company has a market capitalization of $4.80 billion, a PE ratio of -27.93, a PEG ratio of 0.26 and a beta of 0.25. PBF Energy has a 12 month low of $16.20 and a 12 month high of $52.18.

PBF Energy (NYSE:PBF - Get Free Report) last issued its quarterly earnings results on Thursday, February 12th. The oil and gas company reported $0.49 earnings per share for the quarter, topping analysts' consensus estimates of ($0.15) by $0.64. The company had revenue of $7.14 billion for the quarter, compared to the consensus estimate of $7.17 billion. PBF Energy had a negative net margin of 0.54% and a negative return on equity of 8.86%. The firm's quarterly revenue was down 2.9% on a year-over-year basis. During the same period in the previous year, the firm earned ($2.82) EPS. As a group, equities research analysts forecast that PBF Energy will post 3.94 EPS for the current fiscal year.

Insider Activity at PBF Energy

In related news, insider Control Empresarial De Capital sold 1,100,000 shares of the business's stock in a transaction that occurred on Wednesday, March 18th. The shares were 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 owned 22,996,898 shares of the company's stock, valued at approximately $1,062,686,656.58. The trade was a 4.56% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have sold 11,051,825 shares of company stock valued at $486,676,087 in the last three months. 5.50% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Leonteq Securities AG purchased a new position in shares of PBF Energy during the 1st quarter valued at $33,000. Smartleaf Asset Management LLC boosted its stake in PBF Energy by 197.7% during the third quarter. Smartleaf Asset Management LLC now owns 887 shares of the oil and gas company's stock valued at $27,000 after buying an additional 589 shares during the period. Torren Management LLC bought a new stake in PBF Energy during the fourth quarter valued at $30,000. Deseret Mutual Benefit Administrators grew its position in PBF Energy by 62.3% during the third quarter. Deseret Mutual Benefit Administrators now owns 1,146 shares of the oil and gas company's stock worth $35,000 after buying an additional 440 shares in the last quarter. Finally, Los Angeles Capital Management LLC purchased a new position in PBF Energy during the fourth quarter worth about $31,000. 96.29% of the stock is owned by institutional investors.

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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