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. 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
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.
Check Out Our Latest Analysis on PBF Energy
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.
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