Mizuho Increases PBF Energy (NYSE:PBF) Price Target to $23.00

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

Other equities research analysts have also issued reports about the stock. JPMorgan Chase & Co. lowered their price objective on shares of PBF Energy from $31.00 to $29.00 and set a “neutral” rating for the company in a report on Tuesday, March 11th. Scotiabank lowered their price target on shares of PBF Energy from $25.00 to $16.00 and set a “sector perform” rating for the company in a research note on Friday, April 11th. Wells Fargo & Company reduced their price objective on PBF Energy from $22.00 to $18.00 and set an “equal weight” rating on the stock in a research note on Friday, May 2nd. TD Cowen decreased their price objective on PBF Energy from $19.00 to $17.00 and set a “sell” rating on the stock in a report on Tuesday, March 11th. Finally, The Goldman Sachs Group dropped their target price on PBF Energy from $28.00 to $23.00 and set a “neutral” rating for the company in a report on Thursday, March 27th. 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 company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $22.91.

PBF Energy Price Performance

PBF stock opened at $22.62 on Tuesday. PBF Energy has a one year low of $13.62 and a one year high of $51.63. The firm has a 50 day simple moving average of $18.07 and a two-hundred day simple moving average of $24.58. The stock has a market cap of $2.61 billion, a PE ratio of -4.80 and a beta of 0.76. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.25 and a quick ratio of 0.54.

PBF Energy (NYSE:PBF) last announced its quarterly earnings data on Thursday, May 1st. The oil and gas company reported ($3.09) EPS for the quarter, beating the consensus estimate of ($3.50) by $0.41. The firm had revenue of $7.07 billion for 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 company’s revenue was down 18.3% on a year-over-year basis. During the same period in the prior year, the company earned $0.85 EPS. On average, analysts predict that PBF Energy will post -1.12 EPS for the current fiscal year.

Insider Activity at PBF Energy

In related news, insider Control Empresarial De Capital acquired 16,000 shares of PBF Energy stock in a transaction on Monday, April 7th. The shares were acquired at an average cost of $13.88 per share, with a total value of $222,080.00. Following the transaction, the insider now owns 30,737,998 shares in the company, valued at $426,643,412.24. This trade represents a 0.05% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders acquired a total of 331,000 shares of company stock worth $6,075,180 over the last quarter. 5.30% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On PBF Energy

Institutional investors and hedge funds have recently modified their holdings of the stock. Fifth Third Bancorp raised its stake in PBF Energy by 125.7% in the first quarter. Fifth Third Bancorp now owns 1,442 shares of the oil and gas company’s stock worth $28,000 after buying an additional 803 shares in the last quarter. Allworth Financial LP raised its position in shares of PBF Energy by 194.3% in the 1st quarter. Allworth Financial LP now owns 1,651 shares of the oil and gas company’s stock worth $32,000 after acquiring an additional 1,090 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S purchased a new position in shares of PBF Energy in the 1st quarter valued at approximately $35,000. Neo Ivy Capital Management bought a new stake in shares of PBF Energy during the first quarter valued at approximately $37,000. Finally, Golden State Wealth Management LLC bought a new stake in shares of PBF Energy during the fourth quarter valued at approximately $61,000. 96.29% of the stock is owned by hedge funds and other 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.