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

PBF Energy (NYSE:PBF) released 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 return on equity of 2.84% and a negative net margin of 0.84%.

PBF Energy Stock Down 10.3 %

PBF Energy stock traded down $2.75 during trading on Thursday, reaching $23.86. 4,639,403 shares of the company’s stock were exchanged, compared to its average volume of 2,141,005. The company’s 50-day moving average is $28.43 and its two-hundred day moving average is $31.32. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.65 and a current ratio of 1.34. PBF Energy has a 52-week low of $22.03 and a 52-week high of $62.88. The firm has a market cap of $2.75 billion, a price-to-earnings ratio of -9.22 and a beta of 1.60.

PBF Energy Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Thursday, February 27th will be given a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a yield of 4.61%. PBF Energy’s dividend payout ratio (DPR) is -42.47%.

Analyst Upgrades and Downgrades

Several analysts have commented on PBF shares. Wells Fargo & Company cut shares of PBF Energy from an “overweight” rating to an “equal weight” rating and lowered their target price for the stock from $39.00 to $34.00 in a research note on Monday, December 9th. TD Cowen cut shares of PBF Energy from a “hold” rating to a “sell” rating and lowered their price objective for the company from $27.00 to $20.00 in a research note on Friday, December 20th. Mizuho cut shares of PBF Energy from a “neutral” rating to an “underperform” rating and lowered their price objective for the company from $33.00 to $31.00 in a research note on Monday, December 16th. StockNews.com cut shares of PBF Energy from a “hold” rating to a “sell” rating in a research note on Monday, November 4th. Finally, JPMorgan Chase & Co. lowered 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. Seven investment analysts have rated the stock with a sell rating and eight have given a hold rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $32.00.

Insider Buying and Selling

In other news, insider Control Empresarial De Capital acquired 57,000 shares of the business’s stock in a transaction on Monday, November 25th. The shares were purchased at an average price of $31.70 per share, for a total transaction of $1,806,900.00. Following the acquisition, the insider now directly owns 26,739,498 shares of the company’s stock, valued at $847,642,086.60. This represents a 0.21 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In the last three months, insiders acquired 1,968,500 shares of company stock valued at $58,476,810. Company insiders own 5.30% of the company’s stock.

PBF Energy Company Profile

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.