PBF Energy (NYSE:PBF) Releases Quarterly Earnings Results

PBF Energy (NYSE:PBFGet 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

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.

Check Out Our Latest Analysis on PBF

PBF Energy Company Profile

(Get Free Report)

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.

Further Reading

Earnings History for PBF Energy (NYSE:PBF)

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