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

PBF Energy (NYSE:PBF - Get Free Report) announced its quarterly earnings results on Thursday. The oil and gas company reported ($2.82) earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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%. The firm had revenue of $7.35 billion for the quarter, compared to analysts' expectations of $7.25 billion.

PBF Energy Stock Up 0.1 %

NYSE:PBF traded up $0.03 during mid-day trading on Monday, hitting $23.24. The stock had a trading volume of 3,107,443 shares, compared to its average volume of 2,074,934. The stock has a 50-day simple moving average of $28.14 and a two-hundred day simple moving average of $31.02. The company has a market capitalization of $2.67 billion, a PE ratio of -8.97 and a beta of 1.60. PBF Energy has a twelve month low of $22.03 and a twelve month 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.

PBF Energy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Thursday, February 27th will be issued a $0.275 dividend. The ex-dividend date of this dividend is Thursday, February 27th. This represents a $1.10 annualized dividend and a yield of 4.73%. PBF Energy's dividend payout ratio (DPR) is -42.47%.

Insiders Place Their Bets

In related news, insider Control Empresarial De Capital acquired 409,000 shares of the business's stock in a transaction on Wednesday, November 27th. The shares were bought at an average price of $31.58 per share, with a total value of $12,916,220.00. Following the completion of the acquisition, the insider now owns 27,368,498 shares in the company, valued at $864,297,166.84. This trade represents a 1.52 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Over the last quarter, insiders have purchased 1,968,500 shares of company stock valued at $58,476,810. 5.30% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. TD Cowen cut shares of PBF Energy from a "hold" rating to a "sell" rating and reduced their price objective for the stock from $27.00 to $20.00 in a research report on Friday, December 20th. StockNews.com cut shares of PBF Energy from a "hold" rating to a "sell" rating in a research report on Monday, November 4th. Wells Fargo & Company cut their price objective on shares of PBF Energy from $34.00 to $25.00 and set an "equal weight" rating for the company in a research report on Friday. The Goldman Sachs Group cut their price objective on shares of PBF Energy from $38.00 to $34.00 and set a "neutral" rating for the company in a research report on Tuesday, December 10th. Finally, JPMorgan Chase & Co. lowered their target price 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 analysts have rated the stock with a sell rating and eight have issued a hold rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Hold" and an average price target of $31.18.

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.