Piper Sandler Cuts PBF Energy (NYSE:PBF) Price Target to $20.00

PBF Energy (NYSE:PBF - Get Free Report) had its price objective decreased by equities research analysts at Piper Sandler from $23.00 to $20.00 in a report released on Friday,Benzinga reports. The brokerage presently has an "underweight" rating on the oil and gas company's stock. Piper Sandler's price target indicates a potential upside of 10.24% from the stock's current price.

Other equities analysts have also issued research reports about the company. TD Cowen lowered their target price on PBF Energy from $19.00 to $17.00 and set a "sell" rating on the stock in a research note on Tuesday, March 11th. JPMorgan Chase & Co. lowered their price objective on PBF Energy from $31.00 to $29.00 and set a "neutral" rating on the stock in a research note on Tuesday, March 11th. UBS Group reduced their target price on PBF Energy from $29.00 to $26.00 and set a "neutral" rating on the stock in a report on Wednesday, February 19th. Wells Fargo & Company cut their price objective on shares of PBF Energy from $25.00 to $22.00 and set an "equal weight" rating for the company in a research report on Thursday, March 13th. Finally, The Goldman Sachs Group decreased their target price 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. Seven analysts have rated the stock with a sell rating and eight have given a hold rating to the stock. According to MarketBeat, PBF Energy currently has a consensus rating of "Hold" and a consensus target price of $22.82.

PBF Energy Trading Down 3.2 %

Shares of PBF traded down $0.60 during trading hours on Friday, reaching $18.14. The stock had a trading volume of 1,335,389 shares, compared to its average volume of 2,449,512. The firm has a 50-day moving average of $18.08 and a 200 day moving average of $25.02. The company has a quick ratio of 0.54, a current ratio of 1.25 and a debt-to-equity ratio of 0.26. PBF Energy has a 52 week low of $13.62 and a 52 week high of $52.04. The company has a market cap of $2.09 billion, a P/E ratio of -3.84 and a beta of 0.76.

PBF Energy (NYSE:PBF - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The oil and gas company reported ($3.09) earnings per share for the quarter, topping the consensus estimate of ($3.50) by $0.41. The company had revenue of $7.07 billion during the quarter, compared to analysts' expectations of $6.27 billion. PBF Energy had a negative return on equity of 7.40% and a negative net margin of 1.61%. PBF Energy's revenue for the quarter was down 18.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.85 earnings per share. On average, sell-side analysts expect that PBF Energy will post -1.12 earnings per share for the current fiscal year.

Insider Buying and Selling at PBF Energy

In related news, insider Control Empresarial De Capital purchased 155,000 shares of PBF Energy stock in a transaction dated Monday, March 3rd. The stock was purchased at an average cost of $20.20 per share, for a total transaction of $3,131,000.00. Following the completion of the acquisition, the insider now directly owns 30,249,998 shares of the company's stock, valued at $611,049,959.60. The trade was a 0.52 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Over the last 90 days, insiders bought 481,000 shares of company stock valued at $10,380,180. 5.30% of the stock is currently owned by company insiders.

Institutional Trading of PBF Energy

Institutional investors and hedge funds have recently bought and sold shares of the company. Bank of New York Mellon Corp boosted its holdings in shares of PBF Energy by 14.0% during the 1st quarter. Bank of New York Mellon Corp now owns 2,121,727 shares of the oil and gas company's stock valued at $40,504,000 after acquiring an additional 260,464 shares during the last quarter. T. Rowe Price Investment Management Inc. increased its position in PBF Energy by 150.7% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 2,116,396 shares of the oil and gas company's stock valued at $56,191,000 after acquiring an additional 1,272,254 shares during the last quarter. American Century Companies Inc. lifted its holdings in PBF Energy by 11.2% in the fourth quarter. American Century Companies Inc. now owns 1,865,625 shares of the oil and gas company's stock valued at $49,532,000 after acquiring an additional 187,351 shares during the period. Two Sigma Investments LP boosted its position in PBF Energy by 12.6% in the fourth quarter. Two Sigma Investments LP now owns 1,645,584 shares of the oil and gas company's stock worth $43,690,000 after purchasing an additional 184,194 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of PBF Energy by 5.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,492,817 shares of the oil and gas company's stock valued at $39,634,000 after purchasing an additional 78,045 shares during the period. 96.29% of the stock is currently owned by 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.