PBF Energy Inc. (PBF) to Issue Quarterly Dividend of $0.28 on March 14th

PBF Energy Inc. (NYSE:PBF) announced a quarterly dividend on Thursday, February 13th,RTT News reports. Stockholders of record on Thursday, February 27th will be given a dividend of 0.275 per share by the oil and gas company on Friday, March 14th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 4.73%. The ex-dividend date is Thursday, February 27th.

PBF Energy has a payout ratio of 67.9% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect PBF Energy to earn ($0.69) per share next year, which means the company may not be able to cover its $1.10 annual dividend with an expected future payout ratio of -159.4%.

PBF Energy Stock Up 0.1 %

PBF stock opened at $23.24 on Friday. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.65 and a current ratio of 1.34. The business has a 50 day simple moving average of $28.28 and a 200-day simple moving average of $31.27. PBF Energy has a 1 year low of $22.03 and a 1 year high of $62.88.

PBF Energy (NYSE:PBF) last issued its quarterly earnings data on Thursday, February 13th. The oil and gas company reported ($2.82) earnings per share for the quarter, missing the consensus estimate of ($1.80) by ($1.02). PBF Energy had a negative return on equity of 2.84% and a negative net margin of 0.84%. Sell-side analysts anticipate that PBF Energy will post -3.75 EPS for the current year.

Insiders Place Their Bets

In other news, insider Control Empresarial De Capital acquired 57,000 shares of the company’s stock in a transaction on Monday, November 25th. The shares were bought at an average price of $31.70 per share, with a total value of $1,806,900.00. Following the completion of the acquisition, the insider now owns 26,739,498 shares in the company, valued at $847,642,086.60. This trade represents a 0.21 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Over the last 90 days, insiders have bought 1,968,500 shares of company stock valued at $58,476,810. 5.30% of the stock is currently owned by insiders.

Analyst Ratings Changes

PBF has been the subject of several analyst reports. TD Cowen lowered PBF Energy from a “hold” rating to a “sell” rating and lowered their price objective for the stock from $27.00 to $20.00 in a research report on Friday, December 20th. Wells Fargo & Company lowered their price objective on PBF Energy from $34.00 to $25.00 and set an “equal weight” rating for the company in a research report on Friday. StockNews.com cut PBF Energy from a “hold” rating to a “sell” rating in a research note on Monday, November 4th. The Goldman Sachs Group decreased their price target on PBF Energy from $38.00 to $34.00 and set a “neutral” rating on the stock in a research note on Tuesday, December 10th. Finally, Mizuho cut PBF Energy from a “neutral” rating to an “underperform” rating and decreased their price target for the stock from $33.00 to $31.00 in a research note on Monday, December 16th. Seven analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $31.18.

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.