PBF Energy (NYSE:PBF – Get Free Report) posted its earnings results on Thursday. The oil and gas company reported ($1.50) EPS for the quarter, missing analysts’ consensus estimates of ($1.41) by ($0.09), Briefing.com reports. The firm had revenue of $8.38 billion for the quarter, compared to analysts’ expectations of $8.27 billion. PBF Energy had a negative net margin of 0.84% and a negative return on equity of 2.78%. The company’s revenue was down 21.9% on a year-over-year basis. During the same period in the previous year, the company earned $6.61 EPS.
PBF Energy Stock Up 1.3 %
Shares of PBF Energy stock opened at $28.45 on Monday. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.42 and a quick ratio of 0.75. PBF Energy has a 1-year low of $27.94 and a 1-year high of $62.88. The business has a 50-day moving average of $32.15 and a 200-day moving average of $40.24. The company has a market capitalization of $3.33 billion, a PE ratio of -10.84 and a beta of 1.56.
PBF Energy Increases Dividend
The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Wednesday, November 13th will be paid a $0.275 dividend. The ex-dividend date is Wednesday, November 13th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 3.87%. This is a positive change from PBF Energy’s previous quarterly dividend of $0.25. PBF Energy’s dividend payout ratio (DPR) is -38.61%.
Insider Buying and Selling at PBF Energy
Wall Street Analysts Forecast Growth
Several analysts have commented on the stock. Tudor, Pickering, Holt & Co. cut shares of PBF Energy from a “hold” rating to a “sell” rating in a research note on Monday, September 9th. Piper Sandler lowered PBF Energy from a “neutral” rating to an “underweight” rating and dropped their price objective for the company from $47.00 to $25.00 in a report on Friday, September 20th. The Goldman Sachs Group reduced their price target on shares of PBF Energy from $45.00 to $39.00 and set a “neutral” rating for the company in a research report on Friday, October 4th. Bank of America assumed coverage on PBF Energy in a research note on Thursday, October 17th. They issued an “underperform” rating and a $25.00 target price for the company. Finally, Wolfe Research initiated coverage on PBF Energy in a research report on Thursday, July 18th. They issued a “peer perform” rating for the company. Four equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $34.45.
Check Out Our Latest Analysis on PBF
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.
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