Piper Sandler Issues Positive Forecast for PBF Energy (NYSE:PBF) Stock Price

PBF Energy (NYSE:PBF - Get Free Report) had its price objective lifted by stock analysts at Piper Sandler from $20.00 to $21.00 in a research report issued on Tuesday,Benzinga reports. The brokerage currently has an "underweight" rating on the oil and gas company's stock. Piper Sandler's target price suggests a potential downside of 13.54% from the stock's previous close.

Several other analysts also recently commented on the stock. Citigroup raised their price objective on shares of PBF Energy from $16.00 to $29.00 and gave the company a "neutral" rating in a research report on Wednesday, July 16th. UBS Group upgraded shares of PBF Energy from a "neutral" rating to a "buy" rating and raised their price objective for the company from $20.00 to $26.00 in a research report on Tuesday, May 13th. Scotiabank restated a "sector perform" rating and set a $25.00 price objective (up from $16.00) on shares of PBF Energy in a research report on Friday, July 11th. The Goldman Sachs Group reduced their price target on shares of PBF Energy from $28.00 to $23.00 and set a "neutral" rating on the stock in a report on Thursday, March 27th. Finally, Morgan Stanley lifted their price target on shares of PBF Energy from $20.00 to $24.00 and gave the company an "equal weight" rating in a report on Wednesday, July 16th. Seven investment analysts have rated the stock with a sell rating, seven have given a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, PBF Energy currently has an average rating of "Hold" and an average price target of $25.08.

PBF Energy Stock Performance

PBF Energy stock traded down $0.27 during midday trading on Tuesday, reaching $24.29. 604,080 shares of the company traded hands, compared to its average volume of 2,732,668. The firm has a market capitalization of $2.81 billion, a price-to-earnings ratio of -2.67 and a beta of 0.84. The business has a 50 day moving average of $22.21 and a two-hundred day moving average of $22.17. PBF Energy has a 12 month low of $13.62 and a 12 month high of $42.64. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.29 and a quick ratio of 0.52.

PBF Energy (NYSE:PBF - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The oil and gas company reported ($3.09) earnings per share for the quarter, beating analysts' consensus estimates of ($3.50) by $0.41. PBF Energy had a negative net margin of 3.30% and a negative return on equity of 15.67%. The company had revenue of $7.07 billion for the quarter, compared to the consensus estimate of $6.27 billion. During the same quarter in the prior year, the firm earned $0.85 earnings per share. The firm's revenue for the quarter was down 18.3% compared to the same quarter last year. As a group, research analysts predict that PBF Energy will post -1.12 earnings per share for the current year.

Insiders Place Their Bets

In other PBF Energy news, insider Control Empresarial De Capital acquired 48,500 shares of the company's stock in a transaction dated Thursday, June 5th. The shares were acquired at an average cost of $17.99 per share, with a total value of $872,515.00. Following the acquisition, the insider directly owned 30,823,498 shares of the company's stock, valued at approximately $554,514,729.02. The trade was a 0.16% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 5.30% of the company's stock.

Hedge Funds Weigh In On PBF Energy

Several hedge funds and other institutional investors have recently added to or reduced their stakes in PBF. MassMutual Private Wealth & Trust FSB increased its position in PBF Energy by 761.0% during the second quarter. MassMutual Private Wealth & Trust FSB now owns 1,412 shares of the oil and gas company's stock worth $31,000 after purchasing an additional 1,248 shares during the last quarter. Fifth Third Bancorp grew its holdings in shares of PBF Energy by 125.7% in the first quarter. Fifth Third Bancorp now owns 1,442 shares of the oil and gas company's stock valued at $28,000 after purchasing an additional 803 shares in the last quarter. Allworth Financial LP grew its holdings in shares of PBF Energy by 194.3% in the first quarter. Allworth Financial LP now owns 1,651 shares of the oil and gas company's stock valued at $32,000 after purchasing an additional 1,090 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S acquired a new position in PBF Energy during the 1st quarter worth approximately $35,000. Finally, Neo Ivy Capital Management acquired a new position in PBF Energy during the 1st quarter worth approximately $37,000. 96.29% of the stock is owned by hedge funds and other institutional investors.

About PBF Energy

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.

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