PBF Energy (NYSE:PBF) Releases Earnings Results, Misses Expectations By $0.39 EPS

PBF Energy (NYSE:PBF) issued its quarterly earnings results on Thursday. The oil and gas company reported ($0.54) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.39), Briefing.com reports. PBF Energy had a return on equity of 12.68% and a net margin of 2.09%. The business had revenue of $8.74 billion for the quarter, compared to the consensus estimate of $8.64 billion. During the same period in the prior year, the business posted $2.29 earnings per share. PBF Energy’s revenue was down 4.6% on a year-over-year basis.

PBF Energy Stock Down 7.7 %

Shares of NYSE:PBF traded down $3.00 on Friday, reaching $36.20. The company had a trading volume of 2,856,816 shares, compared to its average volume of 2,172,501. PBF Energy has a 52-week low of $36.13 and a 52-week high of $62.88. The firm’s 50 day simple moving average is $43.16 and its 200-day simple moving average is $49.02. The firm has a market capitalization of $4.29 billion, a PE ratio of 2.51 and a beta of 1.60. The company has a current ratio of 1.54, a quick ratio of 0.78 and a debt-to-equity ratio of 0.20.

PBF Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 29th. Stockholders of record on Thursday, August 15th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Thursday, August 15th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.76%. PBF Energy’s dividend payout ratio is presently 6.92%.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the company. Scotiabank decreased their price target on PBF Energy from $56.00 to $45.00 and set a “sector perform” rating for the company in a research note on Friday, July 12th. JPMorgan Chase & Co. decreased their target price on PBF Energy from $58.00 to $53.00 and set an “overweight” rating for the company in a research report on Tuesday, July 2nd. TD Cowen decreased their target price on PBF Energy from $54.00 to $45.00 and set a “hold” rating for the company in a research report on Friday, May 3rd. The Goldman Sachs Group decreased their target price on PBF Energy from $57.00 to $50.00 and set a “neutral” rating for the company in a research report on Monday, July 1st. Finally, Wells Fargo & Company decreased their target price on PBF Energy from $67.00 to $66.00 and set an “overweight” rating for the company in a research report on Thursday, June 6th. Nine equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $54.30.

Insider Activity

In other PBF Energy news, insider Control Empresarial De Capital bought 84,000 shares of the company’s stock in a transaction that occurred on Monday, June 3rd. The shares were purchased at an average cost of $44.96 per share, for a total transaction of $3,776,640.00. Following the purchase, the insider now directly owns 14,429,198 shares in the company, valued at $648,736,742.08. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In the last three months, insiders have purchased 2,091,100 shares of company stock worth $93,004,617. 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.