PBF Energy (NYSE:PBF) Releases Earnings Results, Misses Expectations By $1.02 EPS

PBF Energy (NYSE:PBF) issued its earnings results 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 net margin of 0.84% and a negative return on equity of 2.84%.

PBF Energy Price Performance

Shares of PBF Energy stock traded down $2.75 on Thursday, hitting $23.86. The company had a trading volume of 4,639,403 shares, compared to its average volume of 2,141,005. PBF Energy has a 52 week low of $22.03 and a 52 week high of $62.88. The company has a market cap of $2.75 billion, a PE ratio of -9.22 and a beta of 1.60. The business has a 50-day simple moving average of $28.43 and a 200-day simple moving average of $31.32. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.34 and a quick ratio of 0.65.

PBF Energy Announces Dividend

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 issued a $0.275 dividend. This represents a $1.10 annualized dividend and a dividend yield of 4.61%. PBF Energy’s dividend payout ratio (DPR) is presently -42.47%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on PBF. StockNews.com lowered shares of PBF Energy from a “hold” rating to a “sell” rating in a research note on Monday, November 4th. Mizuho lowered shares of PBF Energy from a “neutral” rating to an “underperform” rating and dropped their price objective for the stock from $33.00 to $31.00 in a research note on Monday, December 16th. Bank of America started coverage on shares of PBF Energy in a research note on Thursday, October 17th. They set an “underperform” rating and a $25.00 price objective on the stock. Wells Fargo & Company lowered shares of PBF Energy from an “overweight” rating to an “equal weight” rating and dropped their price objective for the stock from $39.00 to $34.00 in a research note on Monday, December 9th. Finally, The Goldman Sachs Group dropped their price objective on shares of PBF Energy from $38.00 to $34.00 and set a “neutral” rating on the stock in a research note on Tuesday, December 10th. Seven analysts have rated the stock with a sell rating and eight have assigned a hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $32.00.

Insider Activity at PBF Energy

In other PBF Energy news, insider Control Empresarial De Capital bought 150,000 shares of the business’s stock in a transaction that occurred on Thursday, February 6th. The stock was acquired at an average cost of $28.70 per share, with a total value of $4,305,000.00. Following the completion of the purchase, the insider now directly owns 29,505,998 shares in the company, valued at approximately $846,822,142.60. This trade represents a 0.51 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this link. Insiders acquired a total of 1,968,500 shares of company stock valued at $58,476,810 over the last ninety days. Insiders own 5.30% of the company’s stock.

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.