PBF Energy (NYSE:PBF) Price Target Lowered to $23.00 at The Goldman Sachs Group

PBF Energy (NYSE:PBF) had its target price reduced by stock analysts at The Goldman Sachs Group from $28.00 to $23.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage presently has a “neutral” rating on the oil and gas company’s stock. The Goldman Sachs Group’s price target indicates a potential upside of 21.17% from the stock’s previous close.

Other research analysts have also issued research reports about the stock. JPMorgan Chase & Co. reduced 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 note on Tuesday, March 11th. Wells Fargo & Company reduced their price target 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. Piper Sandler dropped their target price on PBF Energy from $24.00 to $23.00 and set an “underweight” rating on the stock in a report on Friday, March 7th. Morgan Stanley dropped their price target on shares of PBF Energy from $31.00 to $28.00 and set an “equal weight” rating on the stock in a research report on Friday, March 14th. Finally, Mizuho downgraded PBF Energy from a “neutral” rating to an “underperform” rating and reduced their target price for the stock from $33.00 to $31.00 in a research note on Monday, December 16th. Seven analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $26.36.

PBF Energy Stock Performance

Shares of NYSE:PBF opened at $18.98 on Thursday. The firm’s 50 day simple moving average is $24.28 and its 200-day simple moving average is $28.24. The firm has a market cap of $2.19 billion, a PE ratio of -4.03 and a beta of 1.62. PBF Energy has a one year low of $18.82 and a one year high of $62.88. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.54 and a current ratio of 1.25.

PBF Energy (NYSE:PBF) last posted its earnings results on Thursday, February 13th. The oil and gas company reported ($2.82) EPS for the quarter, missing analysts’ consensus estimates of ($1.80) by ($1.02). The business had revenue of $7.35 billion for the quarter, compared to analysts’ expectations of $7.25 billion. PBF Energy had a negative net margin of 1.61% and a negative return on equity of 7.40%. As a group, equities analysts predict that PBF Energy will post -1.12 EPS for the current year.

Insider Buying and Selling at PBF Energy

In other PBF Energy news, insider Control Empresarial De Capital purchased 100,000 shares of the business’s stock in a transaction on Wednesday, January 22nd. The shares were bought at an average cost of $29.60 per share, for a total transaction of $2,960,000.00. Following the completion of the purchase, the insider now directly owns 29,084,998 shares of the company’s stock, valued at approximately $860,915,940.80. This trade represents a 0.35 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders purchased a total of 651,000 shares of company stock worth $17,480,400 over the last three months. Insiders own 5.30% of the company’s stock.

Hedge Funds Weigh In On PBF Energy

Several institutional investors have recently modified their holdings of the business. Citigroup Inc. grew its holdings in PBF Energy by 30.8% during the 3rd quarter. Citigroup Inc. now owns 158,963 shares of the oil and gas company’s stock worth $4,920,000 after acquiring an additional 37,400 shares in the last quarter. Hancock Whitney Corp grew its stake in shares of PBF Energy by 9.6% in the 3rd quarter. Hancock Whitney Corp now owns 11,030 shares of the oil and gas company’s stock valued at $341,000 after purchasing an additional 968 shares during the last quarter. BNP Paribas Financial Markets increased its stake in PBF Energy by 132.6% in the 3rd quarter. BNP Paribas Financial Markets now owns 863,228 shares of the oil and gas company’s stock valued at $26,717,000 after buying an additional 492,053 shares during the period. Bridgewater Associates LP increased its stake in shares of PBF Energy by 40.5% during the third quarter. Bridgewater Associates LP now owns 93,566 shares of the oil and gas company’s stock worth $2,896,000 after acquiring an additional 26,952 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund lifted its holdings in shares of PBF Energy by 391.9% in the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,540,000 shares of the oil and gas company’s stock valued at $47,663,000 after buying an additional 1,226,909 shares during the period. Institutional investors and hedge funds own 96.29% of the company’s stock.

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.