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

PBF Energy Inc. (NYSE:PBF) declared a quarterly dividend on Thursday, February 13th,RTT News reports. Investors of record on Thursday, February 27th will be given a dividend of 0.275 per share by the oil and gas company on Friday, March 14th. This represents a $1.10 dividend on an annualized basis and a yield of 4.13%.

PBF Energy has a payout ratio of 70.1% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect PBF Energy to earn ($0.69) per share next year, which means the company may not be able to cover its $1.10 annual dividend with an expected future payout ratio of -159.4%.

PBF Energy Stock Down 7.3 %

NYSE PBF opened at $26.64 on Thursday. The company has a market cap of $3.07 billion, a price-to-earnings ratio of -10.29 and a beta of 1.60. PBF Energy has a 1-year low of $24.21 and a 1-year high of $62.88. 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 company has a 50 day moving average of $28.43 and a 200-day moving average of $31.32.

PBF Energy (NYSE:PBF) last released its earnings results on Thursday, February 13th. The oil and gas company reported ($2.82) EPS for the quarter, missing the consensus estimate of ($1.80) by ($1.02). PBF Energy had a negative net margin of 0.84% and a negative return on equity of 2.84%. On average, equities research analysts expect that PBF Energy will post -3.75 earnings per share for the current fiscal year.

Analyst Ratings Changes

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

Insider Transactions at PBF Energy

In other PBF Energy news, insider Control Empresarial De Capital bought 150,000 shares of PBF Energy stock in a transaction on Thursday, February 6th. The stock was acquired at an average price of $28.70 per share, with a total value of $4,305,000.00. Following the acquisition, the insider now 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 legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last three months, insiders have purchased 1,968,500 shares of company stock valued at $58,476,810. 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.