PBF Energy (NYSE:PBF) Releases Quarterly Earnings Results

PBF Energy (NYSE:PBF) 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

In related news, insider Control Empresarial De Capital bought 40,000 shares of the firm’s stock in a transaction on Wednesday, September 25th. The stock was bought at an average cost of $30.93 per share, for a total transaction of $1,237,200.00. Following the completion of the purchase, the insider now directly owns 23,407,398 shares in the company, valued at approximately $723,990,820.14. The trade was a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders acquired a total of 4,257,400 shares of company stock worth $135,462,347 in the last 90 days. 5.30% of the stock is owned by corporate insiders.

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.

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.