PBF Energy (NYSE:PBF) Issues Earnings Results

PBF Energy (NYSE:PBF) posted its quarterly earnings data on Thursday. The oil and gas company reported ($0.54) earnings per share 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 business’s quarterly revenue was down 4.6% on a year-over-year basis. During the same period in the previous year, the company earned $2.29 earnings per share.

PBF Energy Stock Performance

Shares of NYSE:PBF traded down $3.00 during trading hours on Friday, hitting $36.20. The stock had a trading volume of 2,856,816 shares, compared to its average volume of 2,172,501. The stock’s fifty day simple moving average is $43.16 and its 200 day simple moving average is $49.02. PBF Energy has a 1-year low of $36.13 and a 1-year high of $62.88. The firm has a market capitalization of $4.29 billion, a price-to-earnings ratio of 2.51 and a beta of 1.60. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.78 and a current ratio of 1.54.

PBF Energy Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 29th. Shareholders of record on Thursday, August 15th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Thursday, August 15th. This represents a $1.00 annualized dividend and a dividend yield of 2.76%. PBF Energy’s payout ratio is currently 6.92%.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. Mizuho decreased their price objective on shares of PBF Energy from $58.00 to $54.00 and set a “neutral” rating for the company in a research report on Thursday, June 20th. Wells Fargo & Company reduced their price target on shares of PBF Energy from $67.00 to $66.00 and set an “overweight” rating on the stock in a research report on Thursday, June 6th. Wolfe Research initiated coverage on shares of PBF Energy in a research report on Thursday, July 18th. They set a “peer perform” rating on the stock. The Goldman Sachs Group reduced their price target on shares of PBF Energy from $57.00 to $50.00 and set a “neutral” rating on the stock in a research report on Monday, July 1st. Finally, Piper Sandler reduced their price target on shares of PBF Energy from $54.00 to $47.00 and set a “neutral” rating on the stock in a research report on Friday, June 14th. Nine equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $54.30.

Insider Buying and Selling at PBF Energy

In related news, insider Control Empresarial De Capital acquired 200,000 shares of the stock in a transaction that occurred on Wednesday, June 5th. The shares were acquired at an average price of $45.37 per share, for a total transaction of $9,074,000.00. Following the completion of the purchase, the insider now directly owns 14,824,198 shares of the company’s stock, valued at $672,573,863.26. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Over the last 90 days, insiders have bought 2,091,100 shares of company stock worth $93,004,617. 5.30% of the stock is owned by company insiders.

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.