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

PBF Energy (NYSE:PBF) had its price target cut by The Goldman Sachs Group from $28.00 to $23.00 in a research note published on Thursday,Benzinga reports. They currently have a neutral rating on the oil and gas company’s stock.

Several other brokerages have also recently issued reports on PBF. Wells Fargo & Company dropped their price objective on PBF Energy from $25.00 to $22.00 and set an “equal weight” rating on the stock in a research note on Thursday, March 13th. JPMorgan Chase & Co. cut their price target on PBF Energy from $31.00 to $29.00 and set a “neutral” rating on the stock in a research note on Tuesday, March 11th. UBS Group lowered their price objective on shares of PBF Energy from $29.00 to $26.00 and set a “neutral” rating for the company in a research note on Wednesday, February 19th. Morgan Stanley cut their target price 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 cut shares of PBF Energy from a “neutral” rating to an “underperform” rating and lowered their price target for the stock from $33.00 to $31.00 in a research report on Monday, December 16th. Seven equities research analysts have rated the stock with a sell rating and eight have issued a hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $26.36.

PBF Energy Stock Down 1.9 %

NYSE:PBF opened at $18.98 on Thursday. The company has a market cap of $2.19 billion, a price-to-earnings ratio of -4.03 and a beta of 1.62. PBF Energy has a twelve month low of $18.82 and a twelve month high of $62.88. The company has a current ratio of 1.25, a quick ratio of 0.54 and a debt-to-equity ratio of 0.26. The stock has a fifty day simple moving average of $24.28 and a 200-day simple moving average of $28.21.

PBF Energy (NYSE:PBF) last announced its quarterly earnings data on Thursday, February 13th. The oil and gas company reported ($2.82) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.80) by ($1.02). The company had revenue of $7.35 billion for the quarter, compared to the consensus estimate of $7.25 billion. PBF Energy had a negative net margin of 1.61% and a negative return on equity of 7.40%. Analysts anticipate that PBF Energy will post -1.12 EPS for the current year.

PBF Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Thursday, February 27th were issued a $0.275 dividend. This represents a $1.10 annualized dividend and a yield of 5.80%. The ex-dividend date of this dividend was Thursday, February 27th. PBF Energy’s dividend payout ratio is presently -23.35%.

Insider Activity at PBF Energy

In other news, insider Control Empresarial De Capital acquired 100,000 shares of the business’s stock in a transaction dated Wednesday, January 22nd. The shares were acquired at an average cost of $29.60 per share, with a total value of $2,960,000.00. Following the completion of the acquisition, the insider now 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 acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Insiders purchased 651,000 shares of company stock valued at $17,480,400 in the last three months. 5.30% of the stock is owned by insiders.

Hedge Funds Weigh In On PBF Energy

A number of institutional investors have recently bought and sold shares of the business. Fortitude Family Office LLC raised its position in PBF Energy by 968.8% during the fourth quarter. Fortitude Family Office LLC now owns 1,165 shares of the oil and gas company’s stock valued at $31,000 after acquiring an additional 1,056 shares in the last quarter. Quarry LP purchased a new position in PBF Energy during the third quarter worth approximately $48,000. Golden State Wealth Management LLC acquired a new stake in PBF Energy in the fourth quarter valued at approximately $61,000. EverSource Wealth Advisors LLC grew its stake in PBF Energy by 33.2% in the 4th quarter. EverSource Wealth Advisors LLC now owns 2,463 shares of the oil and gas company’s stock valued at $65,000 after acquiring an additional 614 shares during the period. Finally, Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of PBF Energy in the fourth quarter valued at about $68,000. 96.29% of the stock is owned by hedge funds and other 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.