PBF Energy (NYSE:PBF) Announces Quarterly Earnings Results, Misses Estimates By $1.02 EPS

PBF Energy (NYSE:PBF) posted its earnings results on Thursday. The oil and gas company reported ($2.82) EPS for the quarter, missing analysts’ consensus estimates of ($1.80) by ($1.02), Zacks reports. The firm had revenue of $7.35 billion for the quarter, compared to analysts’ expectations of $7.25 billion. PBF Energy had a negative return on equity of 2.84% and a negative net margin of 0.84%.

PBF Energy Trading Up 0.1 %

NYSE:PBF traded up $0.03 during trading hours on Friday, reaching $23.24. 3,107,443 shares of the company were exchanged, compared to its average volume of 2,074,934. PBF Energy has a 52-week low of $22.03 and a 52-week high of $62.88. The firm has a market cap of $2.67 billion, a price-to-earnings ratio of -8.97 and a beta of 1.60. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.34 and a quick ratio of 0.65. The stock has a 50 day simple moving average of $28.28 and a 200 day simple moving average of $31.27.

PBF Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Thursday, February 27th will be paid a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a dividend yield of 4.73%. The ex-dividend date of this dividend is Thursday, February 27th. PBF Energy’s dividend payout ratio is currently -42.47%.

Insider Activity

In related news, insider Control Empresarial De Capital purchased 57,000 shares of the firm’s stock in a transaction on Monday, November 25th. The stock was purchased at an average price of $31.70 per share, for a total transaction of $1,806,900.00. Following the acquisition, the insider now directly owns 26,739,498 shares in the company, valued at $847,642,086.60. The trade was a 0.21 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders have bought 1,968,500 shares of company stock valued at $58,476,810 in the last three months. Corporate insiders own 5.30% of the company’s stock.

Analyst Ratings Changes

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