JPMorgan Chase & Co. Lowers PBF Energy (NYSE:PBF) Price Target to $29.00

PBF Energy (NYSE:PBF) had its price target cut by analysts at JPMorgan Chase & Co. from $31.00 to $29.00 in a research report issued on Tuesday,Benzinga reports. The brokerage presently has a “neutral” rating on the oil and gas company’s stock. JPMorgan Chase & Co.‘s price objective would indicate a potential upside of 42.79% from the company’s previous close.

Several other equities research analysts have also commented on the stock. 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 research report on Wednesday, February 19th. Piper Sandler reduced their price target on PBF Energy from $24.00 to $23.00 and set an “underweight” rating for the company in a research report on Friday. Wells Fargo & Company decreased their price target on PBF Energy from $34.00 to $25.00 and set an “equal weight” rating for the company in a report on Friday, February 14th. TD Cowen lowered their price target on shares of PBF Energy from $19.00 to $17.00 and set a “sell” rating on the stock in a report on Tuesday. Finally, The Goldman Sachs Group cut their price objective on shares of PBF Energy from $38.00 to $34.00 and set a “neutral” rating for the company in a report on Tuesday, December 10th. Seven research analysts have rated the stock with a sell rating and eight have given a hold rating to the company. Based on data from MarketBeat.com, PBF Energy has a consensus rating of “Hold” and an average target price of $28.55.

PBF Energy Stock Performance

Shares of NYSE:PBF traded down $0.51 during trading on Tuesday, hitting $20.31. The stock had a trading volume of 473,768 shares, compared to its average volume of 2,095,296. 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 12-month low of $18.97 and a 12-month high of $62.88. The stock has a market capitalization of $2.34 billion, a price-to-earnings ratio of -4.31 and a beta of 1.62. The stock has a 50-day simple moving average of $26.46 and a two-hundred day simple moving average of $29.42.

PBF Energy (NYSE:PBF) last announced its quarterly earnings data on Thursday, February 13th. The oil and gas company reported ($2.82) EPS for the quarter, missing the consensus estimate of ($1.80) by ($1.02). The business had revenue of $7.35 billion for the quarter, compared to analyst estimates of $7.25 billion. PBF Energy had a negative net margin of 1.61% and a negative return on equity of 7.40%. On average, equities research 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 other PBF Energy news, insider Control Empresarial De Capital purchased 155,000 shares of the firm’s stock in a transaction dated Monday, March 3rd. The shares were purchased at an average cost of $20.20 per share, with a total value of $3,131,000.00. Following the completion of the purchase, the insider now owns 30,249,998 shares in the company, valued at approximately $611,049,959.60. This represents a 0.52 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Insiders bought 1,062,500 shares of company stock valued at $28,442,290 over the last quarter. 5.30% of the stock is currently owned by insiders.

Institutional Trading of PBF Energy

Large investors have recently bought and sold shares of the business. Phocas Financial Corp. purchased a new stake in shares of PBF Energy in the fourth quarter valued at approximately $254,000. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in shares of PBF Energy in the 4th quarter worth $3,132,000. GF Fund Management CO. LTD. acquired a new stake in shares of PBF Energy in the 4th quarter worth $803,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of PBF Energy by 7.5% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 249,415 shares of the oil and gas company’s stock worth $6,622,000 after acquiring an additional 17,404 shares during the period. Finally, iSAM Funds UK Ltd acquired a new position in shares of PBF Energy during the 4th quarter valued at about $508,000. Hedge funds and other institutional investors 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.