The Goldman Sachs Group Trims PBF Energy (NYSE:PBF) Target Price to $39.00

PBF Energy (NYSE:PBF) had its price target lowered by The Goldman Sachs Group from $45.00 to $39.00 in a research report report published on Friday, Benzinga reports. The firm currently has a neutral rating on the oil and gas company’s stock.

PBF has been the topic of several other reports. Morgan Stanley decreased their target price on shares of PBF Energy from $48.00 to $38.00 and set an equal weight rating on the stock in a research note on Monday, September 16th. JPMorgan Chase & Co. downgraded shares of PBF Energy from an overweight rating to a neutral rating and decreased their target price for the stock from $53.00 to $40.00 in a research note on Wednesday, October 2nd. Tudor, Pickering, Holt & Co. downgraded shares of PBF Energy from a hold rating to a sell rating in a research note on Monday, September 9th. Piper Sandler cut shares of PBF Energy from a neutral rating to an underweight rating and cut their price target for the company from $47.00 to $25.00 in a report on Friday, September 20th. Finally, Mizuho cut their price target on shares of PBF Energy from $48.00 to $42.00 and set a neutral rating on the stock in a report on Monday, September 16th. Three research analysts have rated the stock with a sell rating, eleven have issued a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, PBF Energy has an average rating of Hold and an average target price of $43.45.

PBF Energy Price Performance

Shares of PBF Energy stock opened at $33.38 on Friday. The stock has a market capitalization of $3.91 billion, a P/E ratio of 2.31 and a beta of 1.55. PBF Energy has a one year low of $30.17 and a one year high of $62.88. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.42 and a quick ratio of 0.75. The business’s 50 day simple moving average is $34.14 and its two-hundred day simple moving average is $44.00.

PBF Energy (NYSE:PBF) last issued its earnings results on Thursday, August 1st. The oil and gas company reported ($0.54) EPS for the quarter, missing the consensus estimate of ($0.15) by ($0.39). PBF Energy had a return on equity of 12.81% and a net margin of 2.09%. The firm had revenue of $8.74 billion during the quarter, compared to analysts’ expectations of $8.64 billion. During the same period in the previous year, the firm earned $2.29 earnings per share. The firm’s quarterly revenue was down 4.6% compared to the same quarter last year. Analysts forecast that PBF Energy will post 0.35 EPS for the current year.

PBF Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 29th. Shareholders of record on Thursday, August 15th were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 3.00%. The ex-dividend date was Thursday, August 15th. PBF Energy’s dividend payout ratio (DPR) is 6.92%.

Insiders Place Their Bets

In other PBF Energy news, insider Control Empresarial De Capital bought 55,000 shares of the firm’s stock in a transaction on Monday, September 30th. The stock was acquired at an average price of $30.85 per share, with a total value of $1,696,750.00. Following the transaction, the insider now owns 23,462,398 shares in the company, valued at $723,814,978.30. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. In the last 90 days, insiders acquired 2,952,300 shares of company stock valued at $97,300,026. 5.30% of the stock is owned by insiders.

Institutional Investors Weigh In On PBF Energy

Hedge funds and other institutional investors have recently made changes to their positions in the business. GAMMA Investing LLC increased its position in shares of PBF Energy by 95.3% during the 1st quarter. GAMMA Investing LLC now owns 459 shares of the oil and gas company’s stock valued at $26,000 after purchasing an additional 224 shares during the last quarter. Rise Advisors LLC bought a new position in shares of PBF Energy during the 1st quarter valued at approximately $27,000. National Bank of Canada FI bought a new position in shares of PBF Energy during the 2nd quarter valued at approximately $26,000. Creekmur Asset Management LLC bought a new position in shares of PBF Energy during the 4th quarter valued at approximately $29,000. Finally, CWM LLC grew its stake in shares of PBF Energy by 108.6% during the 2nd quarter. CWM LLC now owns 1,093 shares of the oil and gas company’s stock valued at $50,000 after acquiring an additional 569 shares during the period. Hedge funds and other institutional investors own 96.29% of the company’s stock.

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.