Equities Analysts Set Expectations for PBF Energy Inc.'s FY2024 Earnings (NYSE:PBF)

PBF Energy Inc. (NYSE:PBF - Free Report) - Analysts at Zacks Research decreased their FY2024 earnings estimates for PBF Energy in a report issued on Tuesday, September 17th. Zacks Research analyst R. Department now forecasts that the oil and gas company will post earnings per share of $1.59 for the year, down from their prior estimate of $1.60. The consensus estimate for PBF Energy's current full-year earnings is $1.25 per share. Zacks Research also issued estimates for PBF Energy's Q1 2025 earnings at $0.07 EPS.

PBF Energy (NYSE:PBF - Get Free Report) last posted its quarterly earnings results on Thursday, August 1st. The oil and gas company reported ($0.54) earnings per share for the quarter, missing the consensus estimate of ($0.15) by ($0.39). PBF Energy had a return on equity of 12.81% and a net margin of 2.09%. The firm had revenue of $8.74 billion for the quarter, compared to the consensus estimate of $8.64 billion. During the same quarter in the previous year, the company posted $2.29 EPS. The firm's revenue was down 4.6% compared to the same quarter last year.

Several other research analysts also recently commented on PBF. Wolfe Research began coverage on shares of PBF Energy in a report on Thursday, July 18th. They issued a "peer perform" rating for the company. Piper Sandler lowered PBF Energy from a "neutral" rating to an "underweight" rating and cut their price target for the stock from $47.00 to $25.00 in a report on Friday. Tudor Pickering upgraded PBF Energy to a "strong sell" rating in a research note on Monday, September 9th. Tudor, Pickering, Holt & Co. downgraded PBF Energy from a "hold" rating to a "sell" rating in a research note on Monday, September 9th. Finally, Mizuho decreased their price target on PBF Energy from $48.00 to $42.00 and set a "neutral" rating on the stock in a research report on Monday. Three investment analysts have rated the stock with a sell rating, nine have given a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $47.91.

PBF Energy Stock Performance

NYSE:PBF traded down $1.86 on Friday, reaching $32.02. 5,580,991 shares of the company's stock were exchanged, compared to its average volume of 2,137,502. The firm has a market cap of $3.80 billion, a price-to-earnings ratio of 2.22 and a beta of 1.56. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.42 and a quick ratio of 0.75. The stock has a fifty day simple moving average of $35.87 and a 200-day simple moving average of $45.70. PBF Energy has a 52 week low of $30.61 and a 52 week high of $62.88.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in PBF. Norges Bank purchased a new position in PBF Energy in the 4th quarter worth $54,832,000. Janus Henderson Group PLC increased its holdings in shares of PBF Energy by 957.8% in the first quarter. Janus Henderson Group PLC now owns 604,674 shares of the oil and gas company's stock worth $34,811,000 after buying an additional 547,509 shares during the period. SG Americas Securities LLC lifted its stake in shares of PBF Energy by 14,785.7% in the 1st quarter. SG Americas Securities LLC now owns 543,029 shares of the oil and gas company's stock valued at $31,262,000 after acquiring an additional 539,381 shares during the last quarter. Hsbc Holdings PLC lifted its stake in shares of PBF Energy by 246.5% in the 2nd quarter. Hsbc Holdings PLC now owns 499,456 shares of the oil and gas company's stock valued at $22,881,000 after acquiring an additional 355,329 shares during the last quarter. Finally, Acadian Asset Management LLC boosted its holdings in PBF Energy by 32.9% during the 2nd quarter. Acadian Asset Management LLC now owns 1,401,667 shares of the oil and gas company's stock valued at $64,489,000 after acquiring an additional 347,268 shares during the period. 96.29% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at PBF Energy

In other news, insider Control Empresarial De Capital bought 805,300 shares of PBF Energy stock in a transaction that occurred on Thursday, September 5th. The shares were acquired at an average price of $32.62 per share, with a total value of $26,268,886.00. Following the completion of the purchase, the insider now directly owns 20,634,898 shares in the company, valued at $673,110,372.76. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In the last ninety days, insiders purchased 2,684,300 shares of company stock valued at $93,389,546. Insiders own 5.30% of the company's stock.

PBF Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 29th. Stockholders of record on Thursday, August 15th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 3.12%. The ex-dividend date of this dividend was Thursday, August 15th. PBF Energy's dividend payout ratio (DPR) is currently 6.92%.

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.