Scotiabank Cuts PBF Energy (NYSE:PBF) Price Target to $16.00

PBF Energy (NYSE:PBF) had its price objective dropped by analysts at Scotiabank from $25.00 to $16.00 in a note issued to investors on Friday,Benzinga reports. The firm presently has a “sector perform” rating on the oil and gas company’s stock. Scotiabank’s price target indicates a potential upside of 3.66% from the stock’s current price.

Several other research firms also recently issued reports on PBF. JPMorgan Chase & Co. cut their price objective on PBF Energy from $31.00 to $29.00 and set a “neutral” rating on the stock in a report on Tuesday, March 11th. Piper Sandler reduced their price target on shares of PBF Energy from $24.00 to $23.00 and set an “underweight” rating on the stock in a research report on Friday, March 7th. Morgan Stanley dropped their price objective on shares of PBF Energy from $31.00 to $28.00 and set an “equal weight” rating for the company in a report on Friday, March 14th. The Goldman Sachs Group reduced their target price on shares of PBF Energy from $28.00 to $23.00 and set a “neutral” rating on the stock in a report on Thursday, March 27th. Finally, UBS Group dropped their price target 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. 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, the stock has an average rating of “Hold” and an average price target of $24.18.

PBF Energy Trading Up 3.3 %

PBF traded up $0.50 on Friday, hitting $15.44. The company had a trading volume of 3,422,638 shares, compared to its average volume of 2,338,876. 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 firm has a market cap of $1.78 billion, a P/E ratio of -3.28 and a beta of 1.15. The company’s fifty day moving average price is $21.31 and its 200 day moving average price is $27.03. PBF Energy has a 1 year low of $13.62 and a 1 year high of $60.98.

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 the consensus estimate 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 during the quarter, compared to analyst estimates of $7.25 billion. As a group, equities analysts expect that PBF Energy will post -1.12 earnings per share for the current year.

Insider Activity at PBF Energy

In related news, insider Control Empresarial De Capital purchased 100,000 shares of the business’s stock in a transaction that occurred on Tuesday, January 14th. The shares were purchased at an average cost of $28.62 per share, for a total transaction of $2,862,000.00. Following the purchase, the insider now directly owns 28,984,998 shares of the company’s stock, valued at $829,550,642.76. The trade was a 0.35 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders acquired 812,000 shares of company stock valued at $20,207,980 over the last three months. 5.30% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On PBF Energy

Several hedge funds have recently made changes to their positions in PBF. Next Level Private LLC acquired a new stake in shares of PBF Energy in the 1st quarter valued at about $405,000. Thurston Springer Miller Herd & Titak Inc. boosted its holdings in shares of PBF Energy by 83.4% in the first quarter. Thurston Springer Miller Herd & Titak Inc. now owns 4,699 shares of the oil and gas company’s stock valued at $90,000 after acquiring an additional 2,137 shares during the period. Parallel Advisors LLC grew its position in shares of PBF Energy by 80.4% during the first quarter. Parallel Advisors LLC now owns 2,434 shares of the oil and gas company’s stock worth $46,000 after acquiring an additional 1,085 shares during the last quarter. GAMMA Investing LLC increased its holdings in shares of PBF Energy by 2,703.0% in the 1st quarter. GAMMA Investing LLC now owns 22,144 shares of the oil and gas company’s stock valued at $423,000 after acquiring an additional 21,354 shares during the period. Finally, Hara Capital LLC raised its position in PBF Energy by 7.8% in the 4th quarter. Hara Capital LLC now owns 545,595 shares of the oil and gas company’s stock valued at $14,486,000 after purchasing an additional 39,278 shares during the last quarter. Hedge funds and other institutional investors own 96.29% of the company’s stock.

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.