PBF Energy (NYSE:PBF) Given New $23.00 Price Target at The Goldman Sachs Group

PBF Energy (NYSE:PBF) had its price target decreased by investment analysts at The Goldman Sachs Group from $28.00 to $23.00 in a research note issued on Thursday,Benzinga reports. The firm presently has a “neutral” rating on the oil and gas company’s stock. The Goldman Sachs Group’s price target points to a potential upside of 20.04% from the stock’s previous close.

Several other equities analysts have also issued reports on the company. UBS Group cut their price target on PBF Energy from $29.00 to $26.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 19th. Wells Fargo & Company cut their price target on PBF Energy from $25.00 to $22.00 and set an “equal weight” rating on the stock in a report on Thursday, March 13th. JPMorgan Chase & Co. decreased their price objective on PBF Energy from $31.00 to $29.00 and set a “neutral” rating for the company in a report on Tuesday, March 11th. Mizuho cut PBF Energy from a “neutral” rating to an “underperform” rating and cut their target price for the company from $33.00 to $31.00 in a research note on Monday, December 16th. Finally, Piper Sandler decreased their price target on shares of PBF Energy from $24.00 to $23.00 and set an “underweight” rating for the company in a research note on Friday, March 7th. Seven analysts have rated the stock with a sell rating and eight have issued a hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $26.36.

PBF Energy Price Performance

NYSE PBF traded down $0.19 on Thursday, hitting $19.16. 590,829 shares of the company were exchanged, compared to its average volume of 2,096,905. 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 company has a market cap of $2.21 billion, a P/E ratio of -4.08 and a beta of 1.62. PBF Energy has a 1-year low of $18.84 and a 1-year high of $62.88. The firm has a 50 day moving average of $24.74 and a two-hundred day moving average of $28.39.

PBF Energy (NYSE:PBF) last released 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). PBF Energy had a negative net margin of 1.61% and a negative return on equity of 7.40%. The company had revenue of $7.35 billion for the quarter, compared to the consensus estimate of $7.25 billion. On average, equities analysts predict that PBF Energy will post -1.12 EPS for the current year.

Insider Activity at PBF Energy

In other PBF Energy news, insider Control Empresarial De Capital purchased 100,000 shares of the firm’s stock in a transaction on Wednesday, January 22nd. The stock was purchased at an average cost of $29.60 per share, for a total transaction of $2,960,000.00. Following the acquisition, the insider now owns 29,084,998 shares in the company, valued at approximately $860,915,940.80. The trade was a 0.35 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders purchased a total of 651,000 shares of company stock valued at $17,480,400 in the last quarter. Insiders own 5.30% of the company’s stock.

Hedge Funds Weigh In On PBF Energy

Several institutional investors have recently added to or reduced their stakes in PBF. Van ECK Associates Corp lifted its position in shares of 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 valued at $10,920,000 after acquiring an additional 392,776 shares during the period. Neo Ivy Capital Management acquired a new position in shares of PBF Energy during the third quarter worth approximately $2,404,000. Wealthfront Advisers LLC bought a new stake in shares of PBF Energy during the 4th quarter worth $4,515,000. Bridgewater Associates LP increased its holdings in PBF Energy by 40.5% during the third quarter. Bridgewater Associates LP now owns 93,566 shares of the oil and gas company’s stock worth $2,896,000 after buying an additional 26,952 shares during the last quarter. Finally, First Eagle Investment Management LLC boosted its stake in PBF Energy by 16.6% in the fourth quarter. First Eagle Investment Management LLC now owns 449,017 shares of the oil and gas company’s stock valued at $11,921,000 after acquiring an additional 64,000 shares during the last quarter. 96.29% of the stock is owned by institutional investors and hedge funds.

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.