Wells Fargo & Company Issues Positive Forecast for PBF Energy (NYSE:PBF) Stock Price

PBF Energy (NYSE:PBF) had its price objective lifted by research analysts at Wells Fargo & Company from $18.00 to $21.00 in a report issued on Wednesday,Benzinga reports. The firm currently has an “equal weight” rating on the oil and gas company’s stock. Wells Fargo & Company‘s target price would indicate a potential upside of 4.01% from the stock’s current price.

PBF has been the subject of several other reports. Scotiabank cut their price objective 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 dropped their target price on PBF Energy from $28.00 to $20.00 and set an “equal weight” rating on the stock in a research report on Thursday, April 24th. 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 research report on Tuesday, March 11th. The Goldman Sachs Group decreased their price objective on PBF Energy from $28.00 to $23.00 and set a “neutral” rating on the stock in a research note on Thursday, March 27th. Finally, UBS Group upgraded PBF Energy from a “neutral” rating to a “buy” rating and raised their target price for the stock from $20.00 to $26.00 in a research note on Tuesday, May 13th. Seven analysts have rated the stock with a sell rating, seven have given a hold rating and one has issued a buy rating to the stock. According to MarketBeat, PBF Energy has a consensus rating of “Hold” and an average target price of $23.18.

PBF Energy Stock Performance

Shares of PBF opened at $20.19 on Wednesday. PBF Energy has a 1 year low of $13.62 and a 1 year high of $48.20. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.25 and a quick ratio of 0.54. The stock’s fifty day moving average price is $18.02 and its two-hundred day moving average price is $23.17. The firm has a market cap of $2.34 billion, a PE ratio of -4.29 and a beta of 0.82.

PBF Energy (NYSE:PBF) last announced its quarterly earnings data on Thursday, May 1st. The oil and gas company reported ($3.09) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($3.50) by $0.41. The business had revenue of $7.07 billion for the quarter, compared to analysts’ expectations 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 quarterly revenue was down 18.3% compared to the same quarter last year. During the same period in the previous year, the business posted $0.85 EPS. On average, equities research analysts forecast that PBF Energy will post -1.12 EPS for the current year.

Insider Activity at PBF Energy

In other news, insider Control Empresarial De Capital purchased 20,000 shares of the company’s stock in a transaction on Friday, March 28th. The stock was purchased at an average price of $19.09 per share, with a total value of $381,800.00. Following the completion of the purchase, the insider now directly owns 30,534,998 shares in the company, valued at approximately $582,913,111.82. This trade represents a 0.07% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders have purchased 224,500 shares of company stock valued at $3,816,695 over the last three months. 5.30% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On PBF Energy

Institutional investors have recently modified their holdings of the company. Janney Montgomery Scott LLC bought a new position in PBF Energy during the fourth quarter valued at approximately $200,000. Yousif Capital Management LLC raised its position in PBF Energy by 1.1% in the 4th quarter. Yousif Capital Management LLC now owns 40,836 shares of the oil and gas company’s stock worth $1,084,000 after purchasing an additional 459 shares during the period. Leavell Investment Management Inc. lifted its stake in PBF Energy by 6.8% in the fourth quarter. Leavell Investment Management Inc. now owns 16,840 shares of the oil and gas company’s stock worth $447,000 after purchasing an additional 1,070 shares during the last quarter. Van ECK Associates Corp lifted its stake 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 worth $10,920,000 after purchasing an additional 392,776 shares during the last quarter. Finally, State of New Jersey Common Pension Fund D boosted its position in PBF Energy by 12.0% during the fourth quarter. State of New Jersey Common Pension Fund D now owns 66,534 shares of the oil and gas company’s stock valued at $1,766,000 after buying an additional 7,110 shares during the period. 96.29% of the stock is currently owned by institutional investors.

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.