PBF Energy (NYSE:PBF) Given New $20.00 Price Target at Piper Sandler

PBF Energy (NYSE:PBF) had its target price lowered by analysts at Piper Sandler from $23.00 to $20.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage currently has an “underweight” rating on the oil and gas company’s stock. Piper Sandler’s price objective points to a potential upside of 14.09% from the company’s current price.

Several other research firms have also recently weighed in on PBF. JPMorgan Chase & Co. decreased their price objective on shares of PBF Energy from $31.00 to $29.00 and set a “neutral” rating for the company in a research report on Tuesday, March 11th. Mizuho lowered their price objective on PBF Energy from $28.00 to $22.00 and set an “underperform” rating for the company in a research report on Tuesday, April 1st. TD Cowen cut their target price on PBF Energy from $19.00 to $17.00 and set a “sell” rating on the stock in a research report on Tuesday, March 11th. Morgan Stanley lowered their target price on PBF Energy from $28.00 to $20.00 and set an “equal weight” rating for the company in a report on Thursday, April 24th. Finally, UBS Group cut their price target on PBF Energy from $29.00 to $26.00 and set a “neutral” rating on the stock in a report on Wednesday, February 19th. Seven investment analysts have rated the stock with a sell rating and eight have issued a hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $22.82.

PBF Energy Stock Performance

Shares of PBF Energy stock opened at $17.53 on Friday. The stock has a market cap of $2.02 billion, a price-to-earnings ratio of -3.72 and a beta of 0.76. 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 twelve month low of $13.62 and a twelve month high of $52.90. The company’s fifty day moving average is $18.20 and its 200 day moving average is $25.23.

PBF Energy (NYSE:PBF) last issued its quarterly earnings results 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 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%. The business’s quarterly revenue was down 18.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.85 earnings per share. Sell-side analysts forecast that PBF Energy will post -1.12 EPS for the current year.

Insider Buying and Selling

In related news, insider Control Empresarial De Capital acquired 15,000 shares of the company’s stock in a transaction on Tuesday, April 15th. The shares were acquired at an average cost of $14.44 per share, for a total transaction of $216,600.00. Following the purchase, the insider now owns 30,774,998 shares in the company, valued at approximately $444,390,971.12. The trade was a 0.05 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders have acquired 521,000 shares of company stock worth $11,478,980 in the last quarter. Insiders own 5.30% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the company. Verdence Capital Advisors LLC increased its stake in PBF Energy by 10.1% in the 1st quarter. Verdence Capital Advisors LLC now owns 13,840 shares of the oil and gas company’s stock valued at $264,000 after buying an additional 1,269 shares during the last quarter. Victory Capital Management Inc. increased its position in shares of PBF Energy by 163.6% during the first quarter. Victory Capital Management Inc. now owns 125,435 shares of the oil and gas company’s stock valued at $2,395,000 after acquiring an additional 77,858 shares during the last quarter. Signaturefd LLC lifted its holdings in PBF Energy by 34.9% during the first quarter. Signaturefd LLC now owns 8,208 shares of the oil and gas company’s stock worth $157,000 after acquiring an additional 2,124 shares during the period. Edgestream Partners L.P. boosted its position in PBF Energy by 48.9% in the first quarter. Edgestream Partners L.P. now owns 175,054 shares of the oil and gas company’s stock worth $3,342,000 after purchasing an additional 57,484 shares during the last quarter. Finally, CWM LLC grew its stake in PBF Energy by 290.9% in the 1st quarter. CWM LLC now owns 5,414 shares of the oil and gas company’s stock valued at $103,000 after purchasing an additional 4,029 shares during the period. 96.29% of the stock is 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.