Scotiabank Trims PBF Energy (NYSE:PBF) Target Price to $45.00

PBF Energy (NYSE:PBF) had its target price cut by equities research analysts at Scotiabank from $56.00 to $45.00 in a research note issued on Friday, Benzinga reports. The brokerage currently has a “sector perform” rating on the oil and gas company’s stock. Scotiabank’s price target indicates a potential upside of 10.57% from the stock’s current price.

Other research analysts also recently issued reports about the company. Piper Sandler dropped their price target on PBF Energy from $54.00 to $47.00 and set a “neutral” rating on the stock in a research note on Friday, June 14th. JPMorgan Chase & Co. decreased their price target on shares of PBF Energy from $58.00 to $53.00 and set an “overweight” rating for the company in a research note on Tuesday, July 2nd. The Goldman Sachs Group cut their target price on shares of PBF Energy from $57.00 to $50.00 and set a “neutral” rating for the company in a research report on Monday, July 1st. Wells Fargo & Company decreased their price objective on PBF Energy from $67.00 to $66.00 and set an “overweight” rating on the stock in a research note on Thursday, June 6th. Finally, TD Cowen cut their price objective on PBF Energy from $54.00 to $45.00 and set a “hold” rating for the company in a report on Friday, May 3rd. Nine analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $53.91.

PBF Energy Stock Down 0.2 %

PBF traded down $0.07 during trading hours on Friday, hitting $40.70. 1,535,443 shares of the company’s stock were exchanged, compared to its average volume of 2,033,310. The stock has a market cap of $4.83 billion, a price-to-earnings ratio of 2.82 and a beta of 1.60. The company has a quick ratio of 0.78, a current ratio of 1.54 and a debt-to-equity ratio of 0.20. PBF Energy has a 1-year low of $39.46 and a 1-year high of $62.88. The stock’s 50-day moving average is $46.45 and its two-hundred day moving average is $49.41.

PBF Energy (NYSE:PBF) last released its earnings results on Thursday, May 2nd. The oil and gas company reported $0.86 earnings per share for the quarter, beating analysts’ consensus estimates of $0.62 by $0.24. The firm had revenue of $8.65 billion during the quarter, compared to the consensus estimate of $8.29 billion. PBF Energy had a return on equity of 18.47% and a net margin of 4.95%. Sell-side analysts predict that PBF Energy will post 4.59 earnings per share for the current fiscal year.

Insider Activity

In other PBF Energy news, insider Control Empresarial De Capital acquired 200,000 shares of the company’s stock in a transaction dated Wednesday, June 5th. The shares were acquired at an average price of $45.37 per share, for a total transaction of $9,074,000.00. Following the acquisition, the insider now owns 14,824,198 shares in the company, valued at approximately $672,573,863.26. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Over the last quarter, insiders acquired 2,091,100 shares of company stock valued at $93,004,617. 5.30% of the stock is currently owned by company insiders.

Institutional Trading of PBF Energy

A number of large investors have recently made changes to their positions in PBF. Norges Bank purchased a new stake in shares of PBF Energy during the 4th quarter worth about $54,832,000. Janus Henderson Group PLC increased its holdings in PBF Energy by 957.8% in the first quarter. Janus Henderson Group PLC now owns 604,674 shares of the oil and gas company’s stock valued at $34,811,000 after buying an additional 547,509 shares during the last quarter. SG Americas Securities LLC raised its position in shares of PBF Energy by 14,785.7% during the 1st quarter. SG Americas Securities LLC now owns 543,029 shares of the oil and gas company’s stock valued at $31,262,000 after acquiring an additional 539,381 shares in the last quarter. Natixis bought a new position in PBF Energy in the first quarter worth about $16,269,000. Finally, LSV Asset Management grew its stake in PBF Energy by 20.4% during the 4th quarter. LSV Asset Management now owns 1,274,904 shares of the oil and gas company’s stock worth $56,045,000 after buying an additional 216,400 shares during the last quarter. Institutional investors and hedge funds 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.