PBF Energy Inc (NYSE:PBF) announced a quarterly dividend on Thursday, February 13th, Zacks reports. Investors of record on Tuesday, February 25th will be paid a dividend of 0.30 per share by the oil and gas company on Tuesday, March 17th. This represents a $1.20 annualized dividend and a yield of 4.19%. The ex-dividend date of this dividend is Monday, February 24th.
PBF Energy has a payout ratio of 27.3% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect PBF Energy to earn $4.46 per share next year, which means the company should continue to be able to cover its $1.20 annual dividend with an expected future payout ratio of 26.9%.
PBF traded up $0.07 on Friday, hitting $28.62. The company had a trading volume of 29,114 shares, compared to its average volume of 1,906,678. The firm has a market cap of $3.34 billion, a P/E ratio of -36.67, a PEG ratio of 0.88 and a beta of 1.66. PBF Energy has a 1 year low of $21.09 and a 1 year high of $36.33. The company’s fifty day moving average price is $29.68 and its 200 day moving average price is $28.37. The company has a current ratio of 1.56, a quick ratio of 0.64 and a debt-to-equity ratio of 0.65.
In related news, insider Carso S.A. De C.V. Inversora acquired 82,355 shares of the stock in a transaction dated Tuesday, November 26th. The stock was acquired at an average cost of $31.40 per share, with a total value of $2,585,947.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Over the last three months, insiders have bought 3,616,569 shares of company stock valued at $107,875,896. Corporate insiders own 3.50% of the company’s stock.
A number of analysts have issued reports on PBF shares. Barclays started coverage on shares of PBF Energy in a research note on Tuesday, January 14th. They set an “overweight” rating and a $38.00 price target on the stock. Royal Bank of Canada reiterated a “hold” rating and set a $31.00 price target on shares of PBF Energy in a research note on Monday, January 20th. Bank of America upgraded shares of PBF Energy from a “neutral” rating to a “buy” rating in a research note on Monday, January 6th. JPMorgan Chase & Co. set a $30.00 price objective on PBF Energy and gave the stock a “sell” rating in a research report on Friday, November 1st. Finally, Tudor Pickering raised PBF Energy from a “hold” rating to a “buy” rating and set a $40.00 price objective for the company in a research report on Monday, December 2nd. One research analyst has rated the stock with a sell rating, three have issued a hold rating and eight have given a buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $37.20.
About PBF Energy
PBF Energy, Inc engages in the operation of a petroleum refiner and supplier of unbranded transportation fuels, heating oil, petrochemical feedstocks, lubricants, and other petroleum products in the United States. It operates through the Refining and Logistics segments. The Refining segment refines crude oil and other feedstocks into petroleum products.
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