PBF Energy (NYSE:PBF) Price Target Cut to $38.00 by Analysts at Morgan Stanley

PBF Energy (NYSE:PBF) had its price objective reduced by research analysts at Morgan Stanley from $48.00 to $38.00 in a research note issued on Monday, Benzinga reports. The brokerage presently has an “equal weight” rating on the oil and gas company’s stock. Morgan Stanley’s price objective suggests a potential upside of 17.76% from the stock’s current price.

Other equities research analysts also recently issued research reports about the stock. The Goldman Sachs Group dropped their price target on shares of PBF Energy from $57.00 to $50.00 and set a “neutral” rating on the stock in a research note on Monday, July 1st. Tudor Pickering raised PBF Energy to a “strong sell” rating in a research note on Monday, September 9th. Tudor, Pickering, Holt & Co. lowered shares of PBF Energy from a “hold” rating to a “sell” rating in a research note on Monday, September 9th. UBS Group cut their price objective on shares of PBF Energy from $57.00 to $44.00 and set a “neutral” rating on the stock in a research report on Tuesday, August 13th. Finally, Wolfe Research initiated coverage on shares of PBF Energy in a research note on Thursday, July 18th. They issued a “peer perform” rating for the company. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $49.91.

PBF Energy Stock Performance

PBF Energy stock traded down $0.34 during mid-day trading on Monday, reaching $32.27. 760,388 shares of the company were exchanged, compared to its average volume of 2,111,262. The firm’s 50-day simple moving average is $36.51 and its two-hundred day simple moving average is $46.08. PBF Energy has a twelve month low of $30.61 and a twelve month high of $62.88. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.75 and a current ratio of 1.42. The firm has a market cap of $3.78 billion, a PE ratio of 2.23 and a beta of 1.56.

PBF Energy (NYSE:PBF) last posted its earnings results on Thursday, August 1st. The oil and gas company reported ($0.54) earnings per share for the quarter, missing the consensus estimate of ($0.15) by ($0.39). PBF Energy had a net margin of 2.09% and a return on equity of 12.81%. The business had revenue of $8.74 billion for the quarter, compared to analysts’ expectations of $8.64 billion. During the same quarter last year, the business posted $2.29 earnings per share. The business’s revenue was down 4.6% compared to the same quarter last year. Equities analysts predict that PBF Energy will post 1.62 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other PBF Energy news, insider Control Empresarial De Capital bought 670,000 shares of PBF Energy stock in a transaction dated Wednesday, September 11th. The shares were purchased at an average cost of $31.29 per share, with a total value of $20,964,300.00. Following the completion of the purchase, the insider now owns 22,527,398 shares of the company’s stock, valued at $704,882,283.42. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders purchased a total of 3,049,500 shares of company stock valued at $109,399,914 in the last quarter. Corporate insiders own 5.30% of the company’s stock.

Institutional Investors Weigh In On PBF Energy

Several large investors have recently bought and sold shares of PBF. Vanguard Group Inc. grew its holdings in PBF Energy by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 11,700,449 shares of the oil and gas company’s stock valued at $514,352,000 after purchasing an additional 69,422 shares during the period. Acadian Asset Management LLC grew its holdings in shares of PBF Energy by 32.9% in the second quarter. Acadian Asset Management LLC now owns 1,401,667 shares of the oil and gas company’s stock worth $64,489,000 after purchasing an additional 347,268 shares during the last quarter. LSV Asset Management increased its position in shares of PBF Energy by 2.7% during the second quarter. LSV Asset Management now owns 1,290,947 shares of the oil and gas company’s stock worth $59,409,000 after acquiring an additional 34,470 shares during the period. Norges Bank bought a new stake in PBF Energy during the 4th quarter valued at $54,832,000. Finally, American Century Companies Inc. lifted its stake in PBF Energy by 3.4% in the second quarter. American Century Companies Inc. now owns 993,301 shares of the oil and gas company’s stock worth $45,712,000 after acquiring an additional 32,862 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.