TD Cowen Has Lowered Expectations for PBF Energy (NYSE:PBF) Stock Price

PBF Energy (NYSE:PBF) had its price objective dropped by equities researchers at TD Cowen from $19.00 to $17.00 in a report issued on Tuesday,Briefing.com Automated Import reports. The brokerage currently has a “sell” rating on the oil and gas company’s stock. TD Cowen’s price target would indicate a potential downside of 18.41% from the company’s previous close.

A number of other research analysts have also recently weighed in on the stock. JPMorgan Chase & Co. cut their price objective on shares of PBF Energy from $36.00 to $35.00 and set a “neutral” rating for the company in a report on Friday, January 10th. Piper Sandler cut their price target on PBF Energy from $24.00 to $23.00 and set an “underweight” rating for the company in a research note on Friday. UBS Group lowered 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. Mizuho cut PBF Energy from a “neutral” rating to an “underperform” rating and cut their price objective for the company from $33.00 to $31.00 in a research report on Monday, December 16th. Finally, Wells Fargo & Company decreased their target price on PBF Energy from $34.00 to $25.00 and set an “equal weight” rating on the stock in a research report on Friday, February 14th. Seven analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company. According to data from MarketBeat.com, PBF Energy has an average rating of “Hold” and a consensus price target of $29.09.

PBF Energy Trading Down 1.8 %

Shares of NYSE:PBF opened at $20.84 on Tuesday. The stock has a market cap of $2.40 billion, a price-to-earnings ratio of -4.42 and a beta of 1.62. The business has a 50-day moving average price of $26.46 and a 200-day moving average price of $29.42. 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 52-week low of $18.97 and a 52-week high of $62.88.

PBF Energy (NYSE:PBF) last announced its quarterly earnings results on Thursday, February 13th. The oil and gas company reported ($2.82) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.80) by ($1.02). The company had revenue of $7.35 billion during 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%. Equities analysts predict that PBF Energy will post -1.12 EPS for the current year.

Insider Buying and Selling at PBF Energy

In related news, insider Control Empresarial De Capital bought 341,500 shares of the company’s stock in a transaction on Wednesday, December 18th. The stock was bought at an average cost of $26.86 per share, for a total transaction of $9,172,690.00. Following the acquisition, the insider now directly owns 28,814,998 shares in the company, valued at $773,970,846.28. This represents a 1.20 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In the last quarter, insiders acquired 1,062,500 shares of company stock worth $28,442,290. Insiders own 5.30% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of PBF. Van ECK Associates Corp lifted its holdings in PBF Energy by 2,119.6% in the fourth quarter. Van ECK Associates Corp now owns 411,307 shares of the oil and gas company’s stock valued at $10,920,000 after acquiring an additional 392,776 shares during the last quarter. Neo Ivy Capital Management acquired a new position in shares of PBF Energy in the 3rd quarter valued at $2,404,000. Intech Investment Management LLC grew its holdings in shares of 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 during the period. State of New Jersey Common Pension Fund D increased its position in shares of 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 during the last quarter. Finally, Bridgewater Associates LP raised its stake in shares of PBF Energy by 40.5% in the 3rd quarter. Bridgewater Associates LP now owns 93,566 shares of the oil and gas company’s stock valued at $2,896,000 after acquiring an additional 26,952 shares during the period. 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.