PBF Energy (NYSE:PBF) Given New $28.00 Price Target at Morgan Stanley

PBF Energy (NYSE:PBF) had its price target cut by analysts at Morgan Stanley from $31.00 to $28.00 in a report released on Friday,Benzinga reports. The brokerage presently has an “equal weight” rating on the oil and gas company’s stock. Morgan Stanley’s price target suggests a potential upside of 38.10% from the stock’s previous close.

Several other research analysts also recently commented on the company. Piper Sandler decreased their price objective on PBF Energy from $24.00 to $23.00 and set an “underweight” rating on the stock in a report on Friday, March 7th. JPMorgan Chase & Co. lowered their price objective on PBF Energy from $31.00 to $29.00 and set a “neutral” rating for the company in a research report on Tuesday. Mizuho cut shares of PBF Energy from a “neutral” rating to an “underperform” rating and cut their target price for the stock from $33.00 to $31.00 in a report on Monday, December 16th. UBS Group lowered their price target on shares of PBF Energy from $29.00 to $26.00 and set a “neutral” rating for the company in a report on Wednesday, February 19th. Finally, Wells Fargo & Company cut their price target on shares of PBF Energy from $25.00 to $22.00 and set an “equal weight” rating on the stock in a report on Thursday. Seven investment analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company. According to data from MarketBeat, PBF Energy currently has an average rating of “Hold” and an average target price of $27.36.

PBF Energy Price Performance

NYSE:PBF traded up $0.61 during mid-day trading on Friday, reaching $20.28. The stock had a trading volume of 817,267 shares, compared to its average volume of 2,093,338. PBF Energy has a one year low of $18.97 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. The firm has a 50 day moving average price of $26.06 and a two-hundred day moving average price of $29.19. The stock has a market capitalization of $2.34 billion, a P/E ratio of -4.32 and a beta of 1.62.

PBF Energy (NYSE:PBF) last released its 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 business 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%. As a group, analysts expect that PBF Energy will post -1.12 earnings per share for the current year.

Insider Transactions at PBF Energy

In related news, insider Control Empresarial De Capital purchased 155,000 shares of the business’s stock in a transaction that occurred on Monday, March 3rd. The shares were bought at an average price of $20.20 per share, for a total transaction of $3,131,000.00. Following the purchase, the insider now directly owns 30,249,998 shares of the company’s stock, valued at approximately $611,049,959.60. This represents a 0.52 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In the last quarter, insiders bought 1,062,500 shares of company stock valued at $28,442,290. Corporate insiders own 5.30% of the company’s stock.

Institutional Investors Weigh In On PBF Energy

Several hedge funds have recently added to or reduced their stakes in PBF. T. Rowe Price Investment Management Inc. lifted its stake in shares of PBF Energy by 150.7% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 2,116,396 shares of the oil and gas company’s stock worth $56,191,000 after buying an additional 1,272,254 shares in the last quarter. American Century Companies Inc. lifted its position in PBF Energy by 11.2% in the 4th quarter. American Century Companies Inc. now owns 1,865,625 shares of the oil and gas company’s stock valued at $49,532,000 after acquiring an additional 187,351 shares in the last quarter. Two Sigma Investments LP boosted its stake in PBF Energy by 12.6% during the 4th quarter. Two Sigma Investments LP now owns 1,645,584 shares of the oil and gas company’s stock valued at $43,690,000 after purchasing an additional 184,194 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund boosted its stake in PBF Energy by 391.9% during 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 purchasing an additional 1,226,909 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of PBF Energy by 5.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,492,817 shares of the oil and gas company’s stock worth $39,634,000 after purchasing an additional 78,045 shares during the last quarter. 96.29% of the stock is owned by institutional investors.

PBF Energy Company Profile

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.