PBF Energy (NYSE:PBF) Given New $22.00 Price Target at Mizuho

PBF Energy (NYSE:PBF) had its price objective cut by Mizuho from $28.00 to $22.00 in a report issued on Tuesday,Benzinga reports. The firm presently has an “underperform” rating on the oil and gas company’s stock. Mizuho’s price objective suggests a potential upside of 15.03% from the stock’s current price.

Several other research firms have also recently weighed in on PBF. Piper Sandler dropped their price objective on shares of PBF Energy from $24.00 to $23.00 and set an “underweight” rating for the company in a research report on Friday, March 7th. The Goldman Sachs Group dropped their target price on PBF Energy from $28.00 to $23.00 and set a “neutral” rating for the company in a research report on Thursday, March 27th. UBS Group decreased 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. TD Cowen dropped their price objective on PBF Energy from $19.00 to $17.00 and set a “sell” rating for the company in a report on Tuesday, March 11th. Finally, 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. Seven investment analysts have rated the stock with a sell rating and eight have issued a hold rating to the company’s stock. According to MarketBeat, PBF Energy presently has an average rating of “Hold” and an average price target of $25.55.

PBF Energy Price Performance

Shares of PBF stock opened at $19.13 on Tuesday. PBF Energy has a 52 week low of $18.55 and a 52 week high of $62.88. The stock has a market capitalization of $2.21 billion, a PE ratio of -4.06 and a beta of 1.62. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.54 and a current ratio of 1.25. The stock’s fifty day moving average is $24.04 and its 200-day moving average is $28.10.

PBF Energy (NYSE:PBF) last issued its quarterly earnings data 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). PBF Energy had a negative return on equity of 7.40% and a negative net margin of 1.61%. The company had revenue of $7.35 billion for the quarter, compared to the consensus estimate of $7.25 billion. Equities research analysts expect that PBF Energy will post -1.12 EPS for the current fiscal year.

Insiders Place Their Bets

In other PBF Energy news, insider Control Empresarial De Capital purchased 155,000 shares of the stock in a transaction on Monday, March 3rd. The stock was bought at an average cost of $20.20 per share, for a total transaction of $3,131,000.00. Following the completion of the acquisition, the insider now directly owns 30,249,998 shares of the company’s stock, valued at $611,049,959.60. The trade was a 0.52 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Over the last three months, insiders have bought 651,000 shares of company stock worth $17,480,400. Company insiders own 5.30% of the company’s stock.

Hedge Funds Weigh In On PBF Energy

Several institutional investors and hedge funds have recently modified their holdings of PBF. Fortitude Family Office LLC raised its holdings in PBF Energy by 968.8% during the 4th quarter. Fortitude Family Office LLC now owns 1,165 shares of the oil and gas company’s stock worth $31,000 after buying an additional 1,056 shares during the period. Quarry LP bought a new stake in shares of PBF Energy during the third quarter worth $48,000. Golden State Wealth Management LLC acquired a new stake in shares of PBF Energy during the fourth quarter worth $61,000. EverSource Wealth Advisors LLC lifted its position 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 in the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. acquired a new position in PBF Energy in the 4th quarter worth $68,000. 96.29% of the stock is currently owned by institutional investors and hedge funds.

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.