PBF Energy (NYSE:PBF) Given New $23.00 Price Target at Mizuho

PBF Energy (NYSE:PBF) had its price target boosted by stock analysts at Mizuho from $22.00 to $23.00 in a research report issued on Tuesday,Benzinga reports. The firm presently has an “underperform” rating on the oil and gas company’s stock. Mizuho’s price target would suggest a potential upside of 1.68% from the stock’s previous close.

PBF has been the subject of several other reports. TD Cowen reduced their price target on PBF Energy from $19.00 to $17.00 and set a “sell” rating for the company in a report on Tuesday, March 11th. Piper Sandler reduced their price objective on shares of PBF Energy from $23.00 to $20.00 and set an “underweight” rating for the company in a research note on Friday, May 2nd. Scotiabank decreased their target price on shares of PBF Energy from $25.00 to $16.00 and set a “sector perform” rating for the company in a report on Friday, April 11th. Morgan Stanley cut their price target on shares of PBF Energy from $28.00 to $20.00 and set an “equal weight” rating on the stock in a report on Thursday, April 24th. Finally, UBS Group upgraded shares of PBF Energy from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $20.00 to $26.00 in a report on Tuesday. Seven investment analysts have rated the stock with a sell rating, seven have issued a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $22.91.

PBF Energy Price Performance

PBF stock opened at $22.62 on Tuesday. 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 $18.07 and a 200-day moving average price of $24.58. PBF Energy has a 52-week low of $13.62 and a 52-week high of $51.63. The firm has a market capitalization of $2.61 billion, a price-to-earnings ratio of -4.80 and a beta of 0.76.

PBF Energy (NYSE:PBF) last posted its quarterly earnings data on Thursday, May 1st. The oil and gas company reported ($3.09) earnings per share for the quarter, beating analysts’ consensus estimates of ($3.50) by $0.41. The company had revenue of $7.07 billion during the quarter, compared to analyst estimates of $6.27 billion. PBF Energy had a negative return on equity of 7.40% and a negative net margin of 1.61%. The firm’s revenue for the quarter was down 18.3% on a year-over-year basis. During the same quarter last year, the company earned $0.85 EPS. Equities research analysts forecast that PBF Energy will post -1.12 EPS for the current fiscal year.

Insider Buying and Selling

In other PBF Energy news, insider Control Empresarial De Capital acquired 15,000 shares of the company’s stock in a transaction that occurred on Wednesday, April 9th. The shares were bought at an average price of $13.98 per share, with a total value of $209,700.00. Following the completion of the acquisition, the insider now owns 30,757,998 shares in the company, valued at $429,996,812.04. This represents a 0.05% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders bought 331,000 shares of company stock valued at $6,075,180 over the last 90 days. Company insiders own 5.30% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. FNY Investment Advisers LLC increased its stake in shares of PBF Energy by 1,484.7% in the 4th quarter. FNY Investment Advisers LLC now owns 6,006 shares of the oil and gas company’s stock worth $159,000 after purchasing an additional 5,627 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. bought a new stake in PBF Energy during the fourth quarter valued at about $68,000. Wedge Capital Management L L P NC grew its holdings in PBF Energy by 23.4% during the fourth quarter. Wedge Capital Management L L P NC now owns 41,406 shares of the oil and gas company’s stock valued at $1,099,000 after purchasing an additional 7,855 shares during the period. Dakota Wealth Management increased its position in PBF Energy by 54.5% in the fourth quarter. Dakota Wealth Management now owns 34,642 shares of the oil and gas company’s stock worth $920,000 after buying an additional 12,221 shares in the last quarter. Finally, Janney Montgomery Scott LLC bought a new position in shares of PBF Energy in the fourth quarter worth about $200,000. 96.29% of the stock is currently 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.