Piper Sandler Issues Positive Forecast for PBF Energy (NYSE:PBF) Stock Price

PBF Energy (NYSE:PBF) had its price objective lifted by equities researchers at Piper Sandler from $29.00 to $42.00 in a report released on Friday,Benzinga reports. The firm currently has an “underweight” rating on the oil and gas company’s stock. Piper Sandler’s price objective suggests a potential upside of 5.56% from the company’s current price.

Several other research analysts have also weighed in on PBF. Mizuho raised their price objective on shares of PBF Energy from $23.00 to $26.00 and gave the stock an “underperform” rating in a report on Monday, September 15th. Cowen reissued a “sell” rating on shares of PBF Energy in a report on Friday, October 31st. Wall Street Zen upgraded PBF Energy from a “sell” rating to a “hold” rating in a research note on Saturday, November 1st. Morgan Stanley set a $27.00 target price on PBF Energy and gave the company an “underweight” rating in a research note on Friday, October 3rd. Finally, Weiss Ratings reissued a “sell (d+)” rating on shares of PBF Energy in a report on Wednesday, October 8th. One analyst has rated the stock with a Buy rating, five have assigned a Hold rating and nine have given a Sell rating to the company’s stock. Based on data from MarketBeat, PBF Energy presently has a consensus rating of “Strong Sell” and an average price target of $28.92.

PBF Energy Stock Up 6.3%

PBF Energy stock traded up $2.37 during midday trading on Friday, hitting $39.79. 747,349 shares of the company were exchanged, compared to its average volume of 3,197,485. The company has a market cap of $4.61 billion, a PE ratio of -8.56 and a beta of 0.79. PBF Energy has a fifty-two week low of $13.61 and a fifty-two week high of $41.47. The company’s fifty day moving average price is $31.70 and its 200-day moving average price is $25.72. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.38 and a quick ratio of 0.59.

PBF Energy (NYSE:PBF) last posted its quarterly earnings data on Thursday, October 30th. The oil and gas company reported ($0.52) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.69) by $0.17. The company had revenue of $7.65 billion for the quarter, compared to analyst estimates of $7.47 billion. PBF Energy had a negative net margin of 1.78% and a negative return on equity of 15.88%. The business’s quarterly revenue was down 8.7% on a year-over-year basis. During the same quarter last year, the firm posted ($1.50) earnings per share. On average, research analysts predict that PBF Energy will post -1.12 EPS for the current fiscal year.

Insider Buying and Selling

In other PBF Energy news, Director Thomas J. Nimbley sold 250,000 shares of the business’s stock in a transaction dated Monday, November 3rd. The shares were sold at an average price of $34.51, for a total value of $8,627,500.00. Following the sale, the director directly owned 790,716 shares in the company, valued at approximately $27,287,609.16. The trade was a 24.02% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Steven John Andriola sold 1,048 shares of the company’s stock in a transaction dated Monday, November 3rd. The shares were sold at an average price of $34.39, for a total transaction of $36,040.72. Following the completion of the sale, the chief accounting officer directly owned 20,974 shares of the company’s stock, valued at $721,295.86. The trade was a 4.76% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 507,045 shares of company stock worth $18,193,421. 5.30% of the stock is owned by corporate insiders.

Institutional Trading of PBF Energy

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Landscape Capital Management L.L.C. acquired a new position in PBF Energy in the third quarter worth approximately $978,000. Quadrature Capital Ltd acquired a new position in shares of PBF Energy in the 3rd quarter worth $1,340,000. Arrowstreet Capital Limited Partnership grew its holdings in shares of PBF Energy by 2,198.8% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 1,212,368 shares of the oil and gas company’s stock worth $36,577,000 after acquiring an additional 1,159,628 shares during the last quarter. Invesco Ltd. raised its position in shares of PBF Energy by 147.4% during the third quarter. Invesco Ltd. now owns 2,772,258 shares of the oil and gas company’s stock worth $83,639,000 after purchasing an additional 1,651,516 shares during the period. Finally, Sei Investments Co. lifted its holdings in shares of PBF Energy by 11.0% during the third quarter. Sei Investments Co. now owns 61,484 shares of the oil and gas company’s stock valued at $1,855,000 after purchasing an additional 6,084 shares during the last quarter. 96.29% of the stock is owned by institutional investors and hedge funds.

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.