PBF Energy (NYSE:PBF) Stock Price Down 7.1%

PBF Energy Inc. (NYSE:PBF – Get Rating)’s stock price was down 7.1% during mid-day trading on Wednesday . The company traded as low as $38.90 and last traded at $39.01. Approximately 994,856 shares changed hands during trading, a decline of 54% from the average daily volume of 2,171,436 shares. The stock had previously closed at $41.99.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on PBF shares. Morgan Stanley increased their price objective on PBF Energy from $40.00 to $50.00 and gave the stock an “equal weight” rating in a report on Friday, January 20th. StockNews.com downgraded PBF Energy from a “strong-buy” rating to a “buy” rating in a report on Thursday, December 15th. Piper Sandler increased their price objective on PBF Energy from $53.00 to $69.00 and gave the stock an “overweight” rating in a report on Wednesday, November 9th. The Goldman Sachs Group increased their price objective on PBF Energy from $40.00 to $45.00 and gave the stock a “neutral” rating in a report on Friday, October 28th. Finally, Mizuho reiterated a “buy” rating and set a $50.00 price objective (up from $43.00) on shares of PBF Energy in a report on Tuesday, January 10th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, PBF Energy currently has a consensus rating of “Hold” and an average target price of $41.69.

PBF Energy Price Performance

The company has a current ratio of 1.21, a quick ratio of 0.72 and a debt-to-equity ratio of 0.31. The company has a 50 day moving average price of $39.65 and a 200 day moving average price of $37.91. The company has a market capitalization of $4.77 billion, a P/E ratio of 2.03 and a beta of 1.92.

Insider Buying and Selling

In related news, SVP Paul T. Davis sold 117,500 shares of PBF Energy stock in a transaction that occurred on Friday, November 4th. The stock was sold at an average price of $47.28, for a total transaction of $5,555,400.00. Following the completion of the sale, the senior vice president now directly owns 44,126 shares of the company’s stock, valued at approximately $2,086,277.28. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 5.60% of the stock is currently owned by insiders.

Hedge Funds Weigh In On PBF Energy

Several hedge funds and other institutional investors have recently modified their holdings of the business. Empirical Finance LLC bought a new stake in shares of PBF Energy in the 3rd quarter valued at about $385,000. Maryland State Retirement & Pension System lifted its stake in shares of PBF Energy by 1.5% in the 2nd quarter. Maryland State Retirement & Pension System now owns 38,680 shares of the oil and gas company’s stock valued at $1,122,000 after purchasing an additional 587 shares during the period. Teacher Retirement System of Texas lifted its stake in shares of PBF Energy by 423.6% in the 3rd quarter. Teacher Retirement System of Texas now owns 83,226 shares of the oil and gas company’s stock valued at $2,926,000 after purchasing an additional 67,332 shares during the period. Deutsche Bank AG lifted its stake in shares of PBF Energy by 72.6% in the 2nd quarter. Deutsche Bank AG now owns 412,178 shares of the oil and gas company’s stock valued at $11,961,000 after purchasing an additional 173,403 shares during the period. Finally, Ellevest Inc. lifted its stake in shares of PBF Energy by 88.8% in the 3rd quarter. Ellevest Inc. now owns 6,488 shares of the oil and gas company’s stock valued at $228,000 after purchasing an additional 3,052 shares during the period. Institutional investors own 90.69% of the company’s stock.

PBF Energy Company Profile

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PBF Energy, Inc engages in the operation of a petroleum refiner and supplies unbranded transportation fuels, heating oil, petrochemical feed stocks, lubricants, and other petroleum products in the United States. It operates through the following segments: Refining and Logistics. The Refining segment refines crude oil and other feed stocks into petroleum products.