PBF Energy Inc. (PBF) To Go Ex-Dividend on February 27th

PBF Energy Inc. (NYSE:PBF) declared a quarterly dividend on Thursday, February 13th, RTT News reports. Stockholders 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 dividend yield of 4.76%. The ex-dividend date is Thursday, February 27th.

PBF Energy has a dividend payout ratio of 64.7% meaning its dividend is sufficiently covered by earnings. Equities analysts expect PBF Energy to earn $1.40 per share next year, which means the company should continue to be able to cover its $1.10 annual dividend with an expected future payout ratio of 78.6%.

PBF Energy Trading Down 0.4 %

NYSE:PBF opened at $23.11 on Tuesday. The stock has a market capitalization of $2.66 billion, a PE ratio of -4.91 and a beta of 1.60. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.25 and a quick ratio of 0.54. PBF Energy has a fifty-two week low of $22.03 and a fifty-two week high of $62.88. The business’s 50-day simple moving average is $27.40 and its 200-day simple moving average is $30.47.

PBF Energy (NYSE:PBF) last released its earnings results on Thursday, February 13th. The oil and gas company reported ($2.82) earnings per share for the quarter, missing the consensus estimate of ($1.80) by ($1.02). The firm had revenue of $7.35 billion during the quarter, compared to the consensus estimate of $7.25 billion. PBF Energy had a negative net margin of 1.61% and a negative return on equity of 7.40%. Sell-side analysts expect that PBF Energy will post -1.12 earnings per share for the current fiscal year.

Insider Activity at PBF Energy

In other PBF Energy news, insider Control Empresarial De Capital purchased 409,000 shares of the company’s stock in a transaction on Wednesday, November 27th. The stock was acquired at an average cost of $31.58 per share, for a total transaction of $12,916,220.00. Following the purchase, the insider now directly owns 27,368,498 shares of the company’s stock, valued at $864,297,166.84. This trade represents a 1.52 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Over the last three months, insiders have purchased 1,811,500 shares of company stock worth $53,541,910. Corporate insiders own 5.30% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. TD Cowen cut shares of PBF Energy from a “hold” rating to a “sell” rating and cut their price objective for the stock from $27.00 to $20.00 in a research report on Friday, December 20th. UBS Group reduced their price objective on shares of PBF Energy from $29.00 to $26.00 and set a “neutral” rating for the company in a research report on Wednesday, February 19th. Mizuho downgraded shares of PBF Energy from a “neutral” rating to an “underperform” rating and decreased their target price for the stock from $33.00 to $31.00 in a research report on Monday, December 16th. Wells Fargo & Company cut their price target on shares of PBF Energy from $34.00 to $25.00 and set an “equal weight” rating on the stock in a report on Friday, February 14th. Finally, StockNews.com lowered PBF Energy from a “hold” rating to a “sell” rating in a research report on Monday, November 4th. Seven equities research analysts have rated the stock with a sell rating and eight have given a hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $29.55.

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.