PBF Energy Inc. (NYSE:PBF) to Issue Quarterly Dividend of $0.28

PBF Energy Inc. (NYSE:PBF - Get Free Report) declared a quarterly dividend on Thursday, October 31st, Zacks reports. Investors of record on Wednesday, November 13th will be paid a dividend of 0.275 per share by the oil and gas company on Wednesday, November 27th. This represents a $1.10 annualized dividend and a yield of 3.92%. The ex-dividend date is Wednesday, November 13th. This is a boost from PBF Energy's previous quarterly dividend of $0.25.

PBF Energy has increased its dividend payment by an average of 41.5% per year over the last three years. PBF Energy has a dividend payout ratio of 526.3% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect PBF Energy to earn $0.36 per share next year, which means the company may not be able to cover its $1.00 annual dividend with an expected future payout ratio of 277.8%.

PBF Energy Stock Down 1.6 %

PBF Energy stock traded down $0.45 during mid-day trading on Friday, reaching $28.07. 2,739,947 shares of the company were exchanged, compared to its average volume of 2,179,454. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.75 and a current ratio of 1.42. The firm has a market cap of $3.29 billion, a P/E ratio of 4.75 and a beta of 1.55. The business has a fifty day moving average of $32.28 and a 200 day moving average of $40.69. PBF Energy has a 12-month low of $27.94 and a 12-month high of $62.88.

PBF Energy (NYSE:PBF - Get Free Report) last issued its quarterly earnings data on Thursday, October 31st. The oil and gas company reported ($1.50) earnings per share for the quarter, missing analysts' consensus estimates of ($1.40) by ($0.10). The company had revenue of $8.38 billion for the quarter, compared to the consensus estimate of $8.27 billion. PBF Energy had a net margin of 2.09% and a return on equity of 12.81%. PBF Energy's revenue for the quarter was down 21.9% compared to the same quarter last year. During the same period in the previous year, the business earned $6.61 EPS. Research analysts anticipate that PBF Energy will post -2.27 earnings per share for the current fiscal year.

Analysts Set New Price Targets

PBF has been the topic of a number of analyst reports. JPMorgan Chase & Co. downgraded shares of PBF Energy from an "overweight" rating to a "neutral" rating and cut their price objective for the stock from $53.00 to $40.00 in a research report on Wednesday, October 2nd. TD Cowen cut their price target on shares of PBF Energy from $32.00 to $27.00 and set a "hold" rating on the stock in a report on Friday. Mizuho decreased their price objective on PBF Energy from $42.00 to $36.00 and set a "neutral" rating for the company in a report on Wednesday, October 9th. Tudor, Pickering, Holt & Co. cut PBF Energy from a "hold" rating to a "sell" rating in a research report on Monday, September 9th. Finally, BMO Capital Markets lowered PBF Energy from an "outperform" rating to a "market perform" rating and reduced their target price for the company from $42.00 to $35.00 in a research report on Friday, October 4th. Four analysts have rated the stock with a sell rating, eleven have assigned a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $34.45.

Insider Buying and Selling

In other PBF Energy news, insider Control Empresarial De Capital purchased 300,000 shares of the business's stock in a transaction that occurred on Wednesday, October 30th. The shares were bought at an average price of $29.01 per share, for a total transaction of $8,703,000.00. Following the acquisition, the insider now owns 25,640,498 shares in the company, valued at $743,830,846.98. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders bought 4,307,400 shares of company stock valued at $137,242,347 over the last quarter. 5.30% of the stock is currently owned by company insiders.

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.