Wells Fargo & Company Issues Pessimistic Forecast for PBF Energy (NYSE:PBF) Stock Price

PBF Energy (NYSE:PBF) had its target price dropped by research analysts at Wells Fargo & Company from $22.00 to $18.00 in a report released on Friday,Benzinga reports. The firm presently has an “equal weight” rating on the oil and gas company’s stock. Wells Fargo & Company‘s price target indicates a potential upside of 2.68% from the company’s current price.

Several other equities research analysts have also issued reports on the stock. Scotiabank reduced their price objective on shares of PBF Energy from $25.00 to $16.00 and set a “sector perform” rating for the company in a research note on Friday, April 11th. UBS Group decreased their price target on PBF Energy from $29.00 to $26.00 and set a “neutral” rating for the company in a research note on Wednesday, February 19th. Piper Sandler lowered their price objective on PBF Energy from $23.00 to $20.00 and set an “underweight” rating on the stock in a report on Friday. The Goldman Sachs Group reduced their target price on PBF Energy from $28.00 to $23.00 and set a “neutral” rating for the company in a report on Thursday, March 27th. Finally, JPMorgan Chase & Co. lowered their price target on PBF Energy from $31.00 to $29.00 and set a “neutral” rating on the stock in a report on Tuesday, March 11th. Seven equities research analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $22.82.

PBF Energy Stock Up 5.2 %

PBF opened at $17.53 on Friday. The company has a market capitalization of $2.02 billion, a PE ratio of -3.72 and a beta of 0.76. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.25 and a quick ratio of 0.54. PBF Energy has a fifty-two week low of $13.62 and a fifty-two week high of $52.90. The business has a 50-day moving average of $18.20 and a 200-day moving average of $25.23.

PBF Energy (NYSE:PBF) 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 the consensus estimate of ($3.50) by $0.41. The firm had revenue of $7.07 billion for the quarter, compared to analyst estimates of $6.27 billion. PBF Energy had a negative net margin of 1.61% and a negative return on equity of 7.40%. The company’s revenue for the quarter was down 18.3% on a year-over-year basis. During the same quarter last year, the firm earned $0.85 earnings per share. Equities research analysts forecast that PBF Energy will post -1.12 EPS for the current fiscal year.

Insider Activity at PBF Energy

In other news, insider Control Empresarial De Capital purchased 150,000 shares of the stock in a transaction that occurred on Thursday, February 6th. The shares were purchased at an average cost of $28.70 per share, for a total transaction of $4,305,000.00. Following the completion of the purchase, the insider now directly owns 29,505,998 shares of the company’s stock, valued at approximately $846,822,142.60. The trade was a 0.51 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders purchased a total of 521,000 shares of company stock worth $11,478,980 in the last ninety days. 5.30% of the stock is currently owned by insiders.

Institutional Trading of PBF Energy

Hedge funds have recently modified their holdings of the company. Tidal Investments LLC bought a new position in PBF Energy in the third quarter worth $1,642,000. B. Riley Wealth Advisors Inc. raised its stake in shares of PBF Energy by 35.1% in the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 57,289 shares of the oil and gas company’s stock valued at $1,801,000 after buying an additional 14,892 shares in the last quarter. Fortitude Family Office LLC lifted its holdings in shares of PBF Energy by 968.8% during the 4th quarter. Fortitude Family Office LLC now owns 1,165 shares of the oil and gas company’s stock worth $31,000 after acquiring an additional 1,056 shares during the period. West Oak Capital LLC boosted its position in shares of PBF Energy by 6,069.5% during the 4th quarter. West Oak Capital LLC now owns 12,339 shares of the oil and gas company’s stock valued at $328,000 after acquiring an additional 12,139 shares in the last quarter. Finally, FNY Investment Advisers LLC increased its stake in PBF Energy by 1,484.7% in the fourth quarter. FNY Investment Advisers LLC now owns 6,006 shares of the oil and gas company’s stock valued at $159,000 after acquiring an additional 5,627 shares during the period. Institutional investors own 96.29% of the company’s stock.

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.