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

PBF Energy Inc. (NYSE:PBF) announced a quarterly dividend on Thursday, February 13th,RTT News reports. Shareholders of record on Thursday, February 27th will be paid 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 4.72%.

PBF Energy has a payout ratio of 67.9% meaning its dividend is sufficiently covered by earnings. Equities 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 Price Performance

Shares of PBF stock opened at $23.33 on Friday. The stock has a 50 day simple moving average of $28.43 and a two-hundred day simple moving average of $31.32. 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 has a fifty-two week low of $22.03 and a fifty-two week high of $62.88.

PBF Energy (NYSE:PBF) last announced its quarterly earnings data on Thursday, February 13th. The oil and gas company reported ($2.82) EPS for the quarter, missing analysts’ consensus estimates 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%. As a group, analysts forecast that PBF Energy will post -3.75 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have commented on PBF. TD Cowen cut PBF Energy from a “hold” rating to a “sell” rating and reduced their price objective for the company from $27.00 to $20.00 in a research note on Friday, December 20th. The Goldman Sachs Group cut their target price on PBF Energy from $38.00 to $34.00 and set a “neutral” rating on the stock in a research report on Tuesday, December 10th. Bank of America began coverage on PBF Energy in a research report on Thursday, October 17th. They set an “underperform” rating and a $25.00 target price on the stock. StockNews.com cut PBF Energy from a “hold” rating to a “sell” rating in a research report on Monday, November 4th. Finally, Mizuho lowered PBF Energy from a “neutral” rating to an “underperform” rating and dropped their price target for the stock from $33.00 to $31.00 in a report on Monday, December 16th. Seven research analysts have rated the stock with a sell rating and eight have given a hold rating to the company’s stock. According to MarketBeat.com, PBF Energy has an average rating of “Hold” and an average price target of $32.00.

Insider Activity at PBF Energy

In related news, insider Control Empresarial De Capital acquired 409,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 27th. The shares were bought at an average cost of $31.58 per share, for a total transaction of $12,916,220.00. Following the purchase, 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In the last three months, insiders have purchased 1,968,500 shares of company stock worth $58,476,810. 5.30% of the stock is owned by company insiders.

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.