PBF Energy (NYSE:PBF – Get Free Report) 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
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.
Check Out Our Latest Stock Analysis on PBF
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.
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