PBF Energy Inc. (NYSE:PBF) Shares Sold by Bayesian Capital Management LP

Bayesian Capital Management LP trimmed its holdings in shares of PBF Energy Inc. (NYSE:PBF) by 79.6% during the 1st quarter, Holdings Channel reports. The institutional investor owned 4,200 shares of the oil and gas company’s stock after selling 16,400 shares during the period. Bayesian Capital Management LP’s holdings in PBF Energy were worth $242,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in PBF. Caxton Associates LP raised its position in shares of PBF Energy by 130.5% in the 1st quarter. Caxton Associates LP now owns 26,472 shares of the oil and gas company’s stock valued at $1,524,000 after purchasing an additional 14,987 shares during the last quarter. Paloma Partners Management Co purchased a new position in PBF Energy in the 1st quarter worth $301,000. Public Employees Retirement System of Ohio lifted its position in PBF Energy by 720.8% during the 1st quarter. Public Employees Retirement System of Ohio now owns 43,074 shares of the oil and gas company’s stock worth $2,480,000 after acquiring an additional 37,826 shares during the period. Price T Rowe Associates Inc. MD grew its stake in PBF Energy by 6.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 189,462 shares of the oil and gas company’s stock valued at $10,908,000 after purchasing an additional 11,683 shares during the last quarter. Finally, BOKF NA increased its holdings in shares of PBF Energy by 77.9% in the first quarter. BOKF NA now owns 4,871 shares of the oil and gas company’s stock valued at $285,000 after purchasing an additional 2,133 shares during the period. 96.29% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

PBF has been the topic of several research reports. Scotiabank cut their price target on shares of PBF Energy from $56.00 to $45.00 and set a “sector perform” rating on the stock in a report on Friday, July 12th. JPMorgan Chase & Co. cut their price objective on shares of PBF Energy from $58.00 to $53.00 and set an “overweight” rating on the stock in a research note on Tuesday, July 2nd. Piper Sandler lowered their price target on shares of PBF Energy from $54.00 to $47.00 and set a “neutral” rating on the stock in a report on Friday, June 14th. Mizuho decreased their price target on PBF Energy from $58.00 to $54.00 and set a “neutral” rating for the company in a report on Thursday, June 20th. Finally, The Goldman Sachs Group dropped their price objective 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. Nine equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $54.30.

Insider Buying and Selling at PBF Energy

In related news, insider Control Empresarial De Capital acquired 600,000 shares of the stock in a transaction on Friday, June 14th. The shares were bought at an average price of $44.13 per share, with a total value of $26,478,000.00. Following the completion of the purchase, the insider now owns 16,004,098 shares of the company’s stock, valued at approximately $706,260,844.74. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In the last quarter, insiders acquired 2,091,100 shares of company stock worth $93,004,617. Insiders own 5.30% of the company’s stock.

PBF Energy Stock Performance

Shares of NYSE:PBF opened at $40.78 on Thursday. The business’s 50 day moving average price is $43.61 and its 200-day moving average price is $49.09. PBF Energy Inc. has a 1 year low of $37.62 and a 1 year high of $62.88. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.54 and a quick ratio of 0.78. The firm has a market capitalization of $4.83 billion, a PE ratio of 2.82 and a beta of 1.60.

PBF Energy (NYSE:PBF) last released its earnings results on Thursday, May 2nd. The oil and gas company reported $0.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.62 by $0.24. The business had revenue of $8.65 billion during the quarter, compared to analyst estimates of $8.29 billion. PBF Energy had a net margin of 4.95% and a return on equity of 18.47%. As a group, equities research analysts expect that PBF Energy Inc. will post 2.19 earnings per share for the current fiscal year.

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.