UBS Group Issues Pessimistic Forecast for PBF Energy (NYSE:PBF) Stock Price

PBF Energy (NYSE:PBF) had its target price reduced by equities research analysts at UBS Group from $29.00 to $26.00 in a research note issued on Wednesday,Benzinga reports. The brokerage presently has a “neutral” rating on the oil and gas company’s stock. UBS Group’s price target indicates a potential upside of 9.22% from the company’s previous close.

Several other research firms also recently weighed in on PBF. JPMorgan Chase & Co. decreased their price objective on PBF Energy from $36.00 to $35.00 and set a “neutral” rating for the company in a report on Friday, January 10th. TD Cowen downgraded PBF Energy from a “hold” rating to a “sell” rating and decreased their price objective for the company from $27.00 to $20.00 in a report on Friday, December 20th. StockNews.com downgraded PBF Energy from a “hold” rating to a “sell” rating in a report on Monday, November 4th. 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. Finally, Mizuho downgraded PBF Energy from a “neutral” rating to an “underperform” rating and decreased their price target for the stock from $33.00 to $31.00 in a report on Monday, December 16th. Seven research analysts have rated the stock with a sell rating and eight have given a hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $29.55.

PBF Energy Stock Performance

Shares of PBF Energy stock opened at $23.81 on Wednesday. The firm has a market capitalization of $2.74 billion, a P/E ratio of -5.05 and a beta of 1.60. PBF Energy has a 52 week low of $22.03 and a 52 week high of $62.88. The company has a quick ratio of 0.54, a current ratio of 1.25 and a debt-to-equity ratio of 0.26. The firm’s 50 day moving average is $27.74 and its two-hundred day moving average is $30.78.

PBF Energy (NYSE:PBF) last announced its quarterly earnings results 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 company had revenue of $7.35 billion during 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%. Research analysts forecast that PBF Energy will post -0.97 EPS for the current fiscal year.

Insider Activity

In other news, insider Control Empresarial De Capital purchased 57,000 shares of the company’s stock in a transaction dated Monday, November 25th. The stock was acquired at an average price of $31.70 per share, for a total transaction of $1,806,900.00. Following the completion of the transaction, the insider now directly owns 26,739,498 shares in the company, valued at $847,642,086.60. This represents a 0.21 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link. Insiders bought a total of 1,868,500 shares of company stock worth $55,348,810 over the last 90 days. 5.30% of the stock is currently owned by corporate insiders.

Institutional Trading of PBF Energy

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Van ECK Associates Corp increased its position in PBF Energy by 2,119.6% during the 4th quarter. Van ECK Associates Corp now owns 411,307 shares of the oil and gas company’s stock worth $10,920,000 after purchasing an additional 392,776 shares in the last quarter. Neo Ivy Capital Management purchased a new stake in PBF Energy during the 3rd quarter worth about $2,404,000. Dakota Wealth Management purchased a new stake in PBF Energy during the 3rd quarter worth about $694,000. Intech Investment Management LLC increased its position in PBF Energy by 165.9% during the 3rd quarter. Intech Investment Management LLC now owns 46,107 shares of the oil and gas company’s stock worth $1,427,000 after purchasing an additional 28,770 shares in the last quarter. Finally, State of New Jersey Common Pension Fund D increased its position in PBF Energy by 44.1% during the 3rd quarter. State of New Jersey Common Pension Fund D now owns 59,424 shares of the oil and gas company’s stock worth $1,839,000 after purchasing an additional 18,173 shares in the last quarter. 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.