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

PBF Energy (NYSE:PBF) issued its earnings results on Thursday. The oil and gas company reported ($2.82) EPS for the quarter, missing the consensus estimate 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 Stock Performance

NYSE PBF traded down $2.47 on Thursday, hitting $24.14. 4,460,941 shares of the stock were exchanged, compared to its average volume of 2,135,787. The company has a market capitalization of $2.78 billion, a PE ratio of -9.32 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 business’s fifty day moving average is $28.43 and its 200 day moving average is $31.32. PBF Energy has a 52 week low of $22.03 and a 52 week high of $62.88.

PBF Energy Announces Dividend

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

Analyst Ratings Changes

Several research firms have weighed in on PBF. Wells Fargo & Company lowered PBF Energy from an “overweight” rating to an “equal weight” rating and reduced their target price for the stock from $39.00 to $34.00 in a report on Monday, December 9th. TD Cowen lowered shares of PBF Energy from a “hold” rating to a “sell” rating and dropped their price objective for the stock from $27.00 to $20.00 in a report on Friday, December 20th. StockNews.com cut PBF Energy from a “hold” rating to a “sell” rating in a report on Monday, November 4th. The Goldman Sachs Group cut their price target on PBF Energy from $38.00 to $34.00 and set a “neutral” rating on the stock in a report on Tuesday, December 10th. Finally, Mizuho downgraded PBF Energy from a “neutral” rating to an “underperform” rating and decreased their price objective for the stock from $33.00 to $31.00 in a report on Monday, December 16th. Seven analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $32.00.

Insider Transactions at PBF Energy

In other PBF Energy news, insider Control Empresarial De Capital bought 57,000 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The shares were acquired at an average cost of $31.70 per share, with a total value of $1,806,900.00. Following the acquisition, the insider now owns 26,739,498 shares of the company’s stock, 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 document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have bought 1,968,500 shares of company stock worth $58,476,810 in 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.