Balyasny Asset Management L.P. Sells 44,792 Shares of PBF Energy Inc. (NYSE:PBF)

Balyasny Asset Management L.P. reduced its stake in shares of PBF Energy Inc. (NYSE:PBF) by 69.8% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 19,387 shares of the oil and gas company’s stock after selling 44,792 shares during the period. Balyasny Asset Management L.P.’s holdings in PBF Energy were worth $515,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of PBF. Xponance Inc. lifted its position in shares of PBF Energy by 2.6% during the fourth quarter. Xponance Inc. now owns 14,123 shares of the oil and gas company’s stock worth $375,000 after acquiring an additional 364 shares in the last quarter. Yousif Capital Management LLC lifted its position in shares of PBF Energy by 1.1% during the fourth quarter. Yousif Capital Management LLC now owns 40,836 shares of the oil and gas company’s stock worth $1,084,000 after acquiring an additional 459 shares in the last quarter. CANADA LIFE ASSURANCE Co lifted its position in shares of PBF Energy by 0.7% during the fourth quarter. CANADA LIFE ASSURANCE Co now owns 72,672 shares of the oil and gas company’s stock worth $1,931,000 after acquiring an additional 480 shares in the last quarter. Spire Wealth Management lifted its position in shares of PBF Energy by 28.2% during the fourth quarter. Spire Wealth Management now owns 2,660 shares of the oil and gas company’s stock worth $71,000 after acquiring an additional 585 shares in the last quarter. Finally, EverSource Wealth Advisors LLC lifted its position in shares of PBF Energy by 33.2% during the fourth quarter. EverSource Wealth Advisors LLC now owns 2,463 shares of the oil and gas company’s stock worth $65,000 after acquiring an additional 614 shares in the last quarter. 96.29% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on PBF. JPMorgan Chase & Co. decreased their price target on shares of PBF Energy from $31.00 to $29.00 and set a “neutral” rating on the stock in a report on Tuesday, March 11th. Scotiabank reduced their target price on PBF Energy from $25.00 to $16.00 and set a “sector perform” rating on the stock in a research note on Friday, April 11th. TD Cowen reduced their price objective on PBF Energy from $19.00 to $17.00 and set a “sell” rating on the stock in a research note on Tuesday, March 11th. UBS Group raised PBF Energy from a “neutral” rating to a “buy” rating and raised their price objective for the company from $20.00 to $26.00 in a research note on Tuesday. Finally, Piper Sandler reduced their price objective on PBF Energy from $23.00 to $20.00 and set an “underweight” rating on the stock in a research note on Friday, May 2nd. Seven research analysts have rated the stock with a sell rating, seven have given a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, PBF Energy currently has a consensus rating of “Hold” and an average target price of $22.91.

Insiders Place Their Bets

In other PBF Energy news, insider Control Empresarial De Capital purchased 15,000 shares of the company’s stock in a transaction dated Tuesday, April 15th. The shares were acquired at an average price of $14.44 per share, for a total transaction of $216,600.00. Following the purchase, the insider now directly owns 30,774,998 shares of the company’s stock, valued at $444,390,971.12. The trade was a 0.05% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last quarter, insiders purchased 331,000 shares of company stock valued at $6,075,180. Company insiders own 5.30% of the company’s stock.

PBF Energy Price Performance

PBF stock opened at $22.35 on Friday. The firm has a 50 day moving average price of $18.10 and a 200-day moving average price of $24.52. PBF Energy Inc. has a 52-week low of $13.62 and a 52-week high of $51.63. The firm has a market capitalization of $2.58 billion, a price-to-earnings ratio of -4.75 and a beta of 0.76. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.54 and a current ratio of 1.25.

PBF Energy (NYSE:PBF) last released its earnings results on Thursday, May 1st. The oil and gas company reported ($3.09) earnings per share (EPS) for the quarter, beating the consensus estimate of ($3.50) by $0.41. The firm had revenue of $7.07 billion during the quarter, compared to analyst estimates of $6.27 billion. PBF Energy had a negative net margin of 1.61% and a negative return on equity of 7.40%. The business’s revenue was down 18.3% on a year-over-year basis. During the same period last year, the business earned $0.85 earnings per share. Equities research analysts forecast that PBF Energy Inc. will post -1.12 EPS for the current fiscal year.

PBF Energy Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 29th. Investors of record on Thursday, May 15th will be given a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a dividend yield of 4.92%. The ex-dividend date is Thursday, May 15th. PBF Energy’s dividend payout ratio (DPR) is currently -12.09%.

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.