PBF Energy (NYSE:PBF) Releases 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. PBF Energy had a return on equity of 12.68% and a net margin of 2.09%. The company had revenue of $8.74 billion for the quarter, compared to analyst estimates of $8.64 billion. During the same quarter in the previous year, the company posted $2.29 earnings per share. PBF Energy’s revenue for the quarter was down 4.6% on a year-over-year basis.

PBF Energy Stock Down 7.7 %

PBF traded down $3.00 during trading hours on Friday, hitting $36.20. 2,856,816 shares of the company’s stock were exchanged, compared to its average volume of 2,172,501. The company has a quick ratio of 0.78, a current ratio of 1.54 and a debt-to-equity ratio of 0.20. PBF Energy has a 1-year low of $36.13 and a 1-year high of $62.88. The stock’s 50-day moving average is $43.16 and its two-hundred day moving average is $49.02. The stock has a market cap of $4.29 billion, a price-to-earnings ratio of 2.51 and a beta of 1.60.

PBF Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 29th. Stockholders of record on Thursday, August 15th will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.76%. The ex-dividend date is Thursday, August 15th. PBF Energy’s dividend payout ratio is presently 6.92%.

Insider Activity

In related news, insider Control Empresarial De Capital acquired 200,000 shares of the company’s stock in a transaction on Wednesday, June 5th. The stock was purchased at an average cost of $45.37 per share, with a total value of $9,074,000.00. Following the acquisition, the insider now directly owns 14,824,198 shares of the company’s stock, valued at $672,573,863.26. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Over the last ninety days, insiders acquired 2,091,100 shares of company stock worth $93,004,617. Corporate insiders own 5.30% of the company’s stock.

Analyst Ratings Changes

PBF has been the subject of a number of recent research reports. Piper Sandler dropped their target price on PBF Energy from $54.00 to $47.00 and set a “neutral” rating for the company in a research report on Friday, June 14th. TD Cowen lowered their price target on shares of PBF Energy from $54.00 to $45.00 and set a “hold” rating for the company in a research report on Friday, May 3rd. Wolfe Research assumed coverage on shares of PBF Energy in a report on Thursday, July 18th. They issued a “peer perform” rating on the stock. Scotiabank lowered their target price on shares of PBF Energy from $56.00 to $45.00 and set a “sector perform” rating for the company in a report on Friday, July 12th. Finally, JPMorgan Chase & Co. lowered their price target on PBF Energy from $58.00 to $53.00 and set an “overweight” rating for the company in a research note on Tuesday, July 2nd. Nine research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $54.30.

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.