PBF Energy Inc. (NYSE:PBF) Plans $0.28 Quarterly Dividend

PBF Energy Inc. (NYSE:PBF) declared a quarterly dividend on Thursday, April 30th. Shareholders of record on Thursday, May 14th will be given a dividend of 0.275 per share by the oil and gas company on Friday, May 29th. This represents a c) annualized dividend and a yield of 2.6%. The ex-dividend date is Thursday, May 14th.

PBF Energy has raised its dividend by an average of 0.3%annually over the last three years and has raised its dividend every year for the last 2 years. PBF Energy has a dividend payout ratio of 220.0% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect PBF Energy to earn $4.33 per share next year, which means the company should continue to be able to cover its $1.10 annual dividend with an expected future payout ratio of 25.4%.

PBF Energy Trading Down 3.6%

NYSE:PBF traded down $1.57 on Friday, hitting $41.79. The stock had a trading volume of 73,024 shares, compared to its average volume of 3,676,156. The company has a quick ratio of 0.51, a current ratio of 1.21 and a debt-to-equity ratio of 0.40. The stock has a market cap of $4.89 billion, a price-to-earnings ratio of -28.71, a PEG ratio of 0.18 and a beta of 0.25. The company has a fifty day moving average price of $42.56 and a two-hundred day moving average price of $35.90. PBF Energy has a 1-year low of $16.47 and a 1-year high of $52.18.

PBF Energy (NYSE:PBF) last announced its quarterly earnings data on Thursday, April 30th. The oil and gas company reported ($0.88) EPS for the quarter, missing analysts’ consensus estimates of ($0.79) by ($0.09). PBF Energy had a negative net margin of 0.54% and a negative return on equity of 8.86%. The firm had revenue of $7.90 billion during the quarter, compared to analysts’ expectations of $7.32 billion. During the same period in the prior year, the company posted ($3.53) earnings per share. The company’s revenue for the quarter was up 11.9% on a year-over-year basis. Equities research analysts expect that PBF Energy will post 5.92 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have recently issued reports on PBF. Zacks Research upgraded shares of PBF Energy from a “strong sell” rating to a “hold” rating in a report on Thursday, February 19th. Piper Sandler upped their target price on shares of PBF Energy from $41.00 to $42.00 and gave the company an “overweight” rating in a report on Friday, February 13th. Tudor Pickering upgraded shares of PBF Energy from a “strong sell” rating to a “hold” rating in a report on Friday, February 13th. Mizuho upped their target price on shares of PBF Energy from $38.00 to $45.00 and gave the company a “neutral” rating in a report on Tuesday, March 17th. Finally, TD Cowen lowered their target price on shares of PBF Energy from $41.00 to $36.00 and set a “sell” rating for the company in a report on Monday. Two analysts have rated the stock with a Buy rating, eight have given a Hold rating and five have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Reduce” and a consensus target price of $35.38.

PBF Energy Company Profile

PBF Energy, Inc is an independent petroleum refiner organized in 2008 and headquartered in Parsippany, New Jersey. The company began trading on the New York Stock Exchange in July 2012 under the ticker symbol PBF. Since its formation, PBF Energy has grown through acquisitions and operational optimization, positioning itself as a leading supplier of refined petroleum products in the United States.

The company owns and operates five refineries located along the U.S. Gulf Coast, East Coast and in the Pacific Northwest, with a combined crude oil processing capacity of approximately 900,000 barrels per day.