PBF Energy (NYSE:PBF) Price Target Raised to $41.00

Key Points

• Goldman Sachs raised its price target on PBF Energy from $33 to $41 while maintaining a "neutral" rating, with the new target implying roughly a 5.2% downside from the current price.
• Overall analyst sentiment is mixed-to-negative: the stock's average rating is "Reduce" with an average price target of $31.15 (2 Buys, 8 Holds, 5 Sells).
• PBF shares rose to $43.25 after an earnings beat (EPS $0.49 vs. -$0.15 expected), but the company still shows a negative net margin and ROE, and insiders have sold roughly 4.21M shares (~$158M) in the past 90 days.

PBF Energy (NYSE:PBF - Get Free Report) had its price objective raised by stock analysts at The Goldman Sachs Group from $33.00 to $41.00 in a report issued on Thursday,Benzinga reports. The brokerage currently has a "neutral" rating on the oil and gas company's stock. The Goldman Sachs Group's price target points to a potential downside of 5.20% from the company's current price.

Several other equities research analysts have also commented on PBF. Weiss Ratings restated a "sell (d)" rating on shares of PBF Energy in a research note on Monday, December 29th. Wolfe Research downgraded PBF Energy from a "peer perform" rating to an "underperform" rating and set a $23.00 target price on the stock. in a research note on Monday, December 8th. Zacks Research raised PBF Energy from a "strong sell" rating to a "hold" rating in a research note on Thursday, February 19th. Citigroup lifted their price objective on shares of PBF Energy from $29.00 to $36.00 and gave the company a "neutral" rating in a research note on Wednesday, January 14th. Finally, Piper Sandler raised their target price on shares of PBF Energy from $41.00 to $42.00 and gave the company an "overweight" rating in a research note on Friday, February 13th. Two research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and five have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Reduce" and an average price target of $31.15.

PBF Energy Stock Up 3.0%

NYSE PBF traded up $1.26 on Thursday, hitting $43.25. 3,410,307 shares of the stock traded hands, compared to its average volume of 3,709,647. The company has a market capitalization of $5.06 billion, a P/E ratio of -29.35, a price-to-earnings-growth ratio of 4.22 and a beta of 0.41. The stock has a 50-day moving average of $34.26 and a 200 day moving average of $32.23. The company has a current ratio of 1.21, a quick ratio of 0.51 and a debt-to-equity ratio of 0.40. PBF Energy has a twelve month low of $13.61 and a twelve month high of $47.18.

PBF Energy (NYSE:PBF - Get Free Report) last announced its quarterly earnings results on Thursday, February 12th. The oil and gas company reported $0.49 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.15) by $0.64. PBF Energy had a negative net margin of 0.54% and a negative return on equity of 8.86%. The company had revenue of $7.14 billion during the quarter, compared to the consensus estimate of $7.17 billion. During the same quarter in the previous year, the company posted ($2.82) earnings per share. The company's revenue for the quarter was down 2.9% compared to the same quarter last year. As a group, analysts expect that PBF Energy will post -1.12 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, SVP Paul T. Davis sold 50,000 shares of PBF Energy stock in a transaction on Wednesday, March 4th. The stock was sold at an average price of $44.80, for a total value of $2,240,000.00. Following the transaction, the senior vice president directly owned 183,426 shares in the company, valued at $8,217,484.80. The trade was a 21.42% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Control Empresarial De Capital sold 205,000 shares of the company's stock in a transaction on Thursday, March 5th. The shares were sold at an average price of $46.57, for a total value of $9,546,850.00. Following the sale, the insider directly owned 26,264,098 shares of the company's stock, valued at approximately $1,223,119,043.86. This represents a 0.77% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 4,212,979 shares of company stock worth $158,329,922. Corporate insiders own 5.30% of the company's stock.

Institutional Trading of PBF Energy

A number of hedge funds have recently bought and sold shares of PBF. Goldman Sachs Group Inc. increased its position in shares of PBF Energy by 127.9% in the fourth quarter. Goldman Sachs Group Inc. now owns 6,327,255 shares of the oil and gas company's stock worth $171,595,000 after acquiring an additional 3,550,820 shares in the last quarter. Invesco Ltd. boosted its stake in PBF Energy by 147.4% in the 3rd quarter. Invesco Ltd. now owns 2,772,258 shares of the oil and gas company's stock worth $83,639,000 after purchasing an additional 1,651,516 shares during the period. AQR Capital Management LLC grew its position in PBF Energy by 230.7% during the 2nd quarter. AQR Capital Management LLC now owns 2,085,060 shares of the oil and gas company's stock worth $45,183,000 after purchasing an additional 1,454,500 shares in the last quarter. Norges Bank acquired a new stake in PBF Energy during the 4th quarter valued at $34,243,000. Finally, Arrowstreet Capital Limited Partnership boosted its position in shares of PBF Energy by 2,198.8% in the third quarter. Arrowstreet Capital Limited Partnership now owns 1,212,368 shares of the oil and gas company's stock worth $36,577,000 after buying an additional 1,159,628 shares during the period. 96.29% of the stock is owned by hedge funds and other institutional investors.

PBF Energy Company Profile

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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