PBF Energy (NYSE:PBF) Announces Quarterly Earnings Results

PBF Energy (NYSE:PBF) issued its quarterly earnings data on Thursday. The oil and gas company reported ($2.82) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.80) by ($1.02), Zacks reports. PBF Energy had a negative return on equity of 2.84% and a negative net margin of 0.84%.

PBF Energy Price Performance

NYSE:PBF traded down $2.47 on Thursday, hitting $24.14. The company had a trading volume of 4,460,941 shares, compared to its average volume of 2,135,787. PBF Energy has a 52 week low of $22.03 and a 52 week high of $62.88. The stock has a market capitalization of $2.78 billion, a price-to-earnings ratio of -9.32 and a beta of 1.60. The company has a current ratio of 1.34, a quick ratio of 0.65 and a debt-to-equity ratio of 0.21. The firm has a 50 day moving average of $28.43 and a two-hundred day moving average of $31.32.

PBF Energy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Thursday, February 27th will be paid a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a yield of 4.56%. PBF Energy’s payout ratio is -42.47%.

Analyst Ratings Changes

Several analysts recently weighed in on the company. The Goldman Sachs Group dropped their price target on PBF Energy from $38.00 to $34.00 and set a “neutral” rating for the company in a report on Tuesday, December 10th. Wells Fargo & Company downgraded PBF Energy from an “overweight” rating to an “equal weight” rating and dropped their target price for the stock from $39.00 to $34.00 in a report on Monday, December 9th. StockNews.com downgraded shares of PBF Energy from a “hold” rating to a “sell” rating in a research note on Monday, November 4th. JPMorgan Chase & Co. dropped their price objective on shares of PBF Energy from $36.00 to $35.00 and set a “neutral” rating for the company in a research note on Friday, January 10th. Finally, TD Cowen downgraded shares of PBF Energy from a “hold” rating to a “sell” rating and cut their price objective for the company from $27.00 to $20.00 in a report on Friday, December 20th. Seven research analysts have rated the stock with a sell rating and eight have issued a hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $32.00.

Insider Activity at PBF Energy

In other news, insider Control Empresarial De Capital bought 409,000 shares of the company’s stock in a transaction on Wednesday, November 27th. The stock was purchased at an average cost of $31.58 per share, for a total transaction of $12,916,220.00. Following the completion of the transaction, the insider now owns 27,368,498 shares of the company’s stock, valued at $864,297,166.84. This trade represents a 1.52 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Insiders have bought a total of 1,968,500 shares of company stock valued at $58,476,810 in the last 90 days. 5.30% of the stock is owned by corporate 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.