PBF Energy (NYSE:PBF) Issues Earnings Results

PBF Energy (NYSE:PBF) announced its earnings results on Thursday. The oil and gas company reported ($0.54) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.39), Briefing.com reports. The firm had revenue of $8.74 billion during the quarter, compared to analysts’ expectations of $8.64 billion. PBF Energy had a net margin of 2.09% and a return on equity of 12.68%. The firm’s revenue for the quarter was down 4.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.29 EPS.

PBF Energy Stock Down 7.7 %

NYSE:PBF traded down $3.00 during trading hours on Friday, hitting $36.20. The company’s stock had a trading volume of 2,856,816 shares, compared to its average volume of 2,172,501. The stock has a market capitalization of $4.29 billion, a P/E ratio of 2.51 and a beta of 1.60. The stock has a fifty day moving average of $43.16 and a 200-day moving average of $49.02. The company has a current ratio of 1.54, a quick ratio of 0.78 and a debt-to-equity ratio of 0.20. PBF Energy has a 52-week low of $36.13 and a 52-week high of $62.88.

PBF Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 29th. Investors of record on Thursday, August 15th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 2.76%. The ex-dividend date is Thursday, August 15th. PBF Energy’s dividend payout ratio (DPR) is presently 6.92%.

Insider Activity at PBF Energy

In other PBF Energy news, insider Control Empresarial De Capital bought 51,000 shares of the company’s stock in a transaction that occurred on Friday, June 7th. The shares were purchased at an average price of $46.19 per share, with a total value of $2,355,690.00. Following the completion of the acquisition, the insider now directly owns 14,875,198 shares of the company’s stock, valued at approximately $687,085,395.62. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have acquired 2,091,100 shares of company stock valued at $93,004,617 over the last quarter. 5.30% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. Wells Fargo & Company cut their target price on PBF Energy from $67.00 to $66.00 and set an “overweight” rating on the stock in a research report on Thursday, June 6th. JPMorgan Chase & Co. cut their target price on PBF Energy from $58.00 to $53.00 and set an “overweight” rating on the stock in a research report on Tuesday, July 2nd. Scotiabank cut their target price on PBF Energy from $56.00 to $45.00 and set a “sector perform” rating on the stock in a research report on Friday, July 12th. Wolfe Research started coverage on PBF Energy in a research report on Thursday, July 18th. They set a “peer perform” rating on the stock. Finally, Mizuho cut their price objective on PBF Energy from $58.00 to $54.00 and set a “neutral” rating on the stock in a research report on Thursday, June 20th. Nine equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $54.30.

About PBF Energy

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.