Wells Fargo & Company Forecasts Strong Price Appreciation for PBF Energy (NYSE:PBF) Stock

PBF Energy (NYSE:PBF - Get Free Report) had its price objective upped by Wells Fargo & Company from $18.00 to $21.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm currently has an "equal weight" rating on the oil and gas company's stock. Wells Fargo & Company's target price suggests a potential upside of 1.35% from the company's current price.

A number of other research firms also recently weighed in on PBF. Scotiabank decreased their target price on shares of PBF Energy from $25.00 to $16.00 and set a "sector perform" rating for the company in a research report on Friday, April 11th. Mizuho increased their price objective on shares of PBF Energy from $22.00 to $23.00 and gave the stock an "underperform" rating in a research report on Tuesday, May 13th. Morgan Stanley dropped their target price on shares of PBF Energy from $28.00 to $20.00 and set an "equal weight" rating on the stock in a report on Thursday, April 24th. JPMorgan Chase & Co. decreased their price target on PBF Energy from $31.00 to $29.00 and set a "neutral" rating for the company in a report on Tuesday, March 11th. Finally, UBS Group upgraded PBF Energy from a "neutral" rating to a "buy" rating and increased their price target for the stock from $20.00 to $26.00 in a report on Tuesday, May 13th. Seven equities research analysts have rated the stock with a sell rating, seven have given a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, PBF Energy has a consensus rating of "Hold" and an average target price of $23.18.

PBF Energy Trading Down 2.1%

PBF traded down $0.45 during trading on Wednesday, reaching $20.72. 696,424 shares of the company's stock were exchanged, compared to its average volume of 2,571,606. The company has a current ratio of 1.25, a quick ratio of 0.54 and a debt-to-equity ratio of 0.26. PBF Energy has a one year low of $13.62 and a one year high of $48.20. The firm has a fifty day moving average price of $18.15 and a two-hundred day moving average price of $23.15. The stock has a market capitalization of $2.40 billion, a PE ratio of -4.40 and a beta of 0.82.

PBF Energy (NYSE:PBF - Get Free Report) last announced its earnings results on Thursday, May 1st. The oil and gas company reported ($3.09) EPS for the quarter, topping the consensus estimate of ($3.50) by $0.41. PBF Energy had a negative return on equity of 7.40% and a negative net margin of 1.61%. The firm had revenue of $7.07 billion for the quarter, compared to the consensus estimate of $6.27 billion. During the same period in the previous year, the business earned $0.85 EPS. The business's quarterly revenue was down 18.3% compared to the same quarter last year. As a group, equities research analysts forecast that PBF Energy will post -1.12 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Control Empresarial De Capital acquired 48,500 shares of PBF Energy stock in a transaction that occurred on Thursday, June 5th. The stock was bought at an average price of $17.99 per share, with a total value of $872,515.00. Following the transaction, the insider now directly owns 30,823,498 shares in the company, valued at approximately $554,514,729.02. This represents a 0.16% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders have acquired 224,500 shares of company stock valued at $3,816,695 over the last ninety days. 5.30% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of PBF. Strs Ohio purchased a new position in shares of PBF Energy in the 1st quarter worth $473,000. Acadian Asset Management LLC boosted its stake in shares of PBF Energy by 261.0% during the 1st quarter. Acadian Asset Management LLC now owns 3,256 shares of the oil and gas company's stock worth $62,000 after acquiring an additional 2,354 shares during the last quarter. Intech Investment Management LLC grew its position in shares of PBF Energy by 27.3% during the 1st quarter. Intech Investment Management LLC now owns 119,365 shares of the oil and gas company's stock valued at $2,279,000 after acquiring an additional 25,616 shares during the period. Bayforest Capital Ltd increased its stake in shares of PBF Energy by 212.4% in the 1st quarter. Bayforest Capital Ltd now owns 30,219 shares of the oil and gas company's stock worth $577,000 after purchasing an additional 20,547 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in PBF Energy by 4.9% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 261,704 shares of the oil and gas company's stock valued at $4,996,000 after purchasing an additional 12,289 shares during the period. 96.29% of the stock is owned by institutional investors.

PBF Energy Company Profile

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.