PBF Energy Inc. (NYSE:PBF) Declares Quarterly Dividend of $0.25

PBF Energy Inc. (NYSE:PBF) announced a quarterly dividend on Thursday, August 1st, NASDAQ reports. Stockholders of record on Thursday, August 15th will be paid a dividend of 0.25 per share by the oil and gas company on Thursday, August 29th. This represents a $1.00 annualized dividend and a dividend yield of 2.74%. The ex-dividend date is Thursday, August 15th.

PBF Energy has raised its dividend by an average of 41.5% per year over the last three years. PBF Energy has a payout ratio of 21.3% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect PBF Energy to earn $3.94 per share next year, which means the company should continue to be able to cover its $1.00 annual dividend with an expected future payout ratio of 25.4%.

PBF Energy Stock Performance

PBF stock traded up $0.08 during trading on Wednesday, reaching $36.50. 81,531 shares of the stock were exchanged, compared to its average volume of 2,083,949. PBF Energy has a twelve month low of $33.80 and a twelve month high of $62.88. The company has a market capitalization of $4.33 billion, a P/E ratio of 2.52 and a beta of 1.60. The stock has a 50 day simple moving average of $41.76 and a 200-day simple moving average of $48.69. The company has a current ratio of 1.42, a quick ratio of 0.75 and a debt-to-equity ratio of 0.20.

PBF Energy (NYSE:PBF) last posted its earnings results on Thursday, August 1st. 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). The firm had revenue of $8.74 billion during the quarter, compared to the consensus estimate of $8.64 billion. PBF Energy had a net margin of 2.09% and a return on equity of 12.81%. The business’s revenue was down 4.6% on a year-over-year basis. During the same quarter last year, the firm posted $2.29 EPS. As a group, sell-side analysts anticipate that PBF Energy will post 1.64 earnings per share for the current year.

Analysts Set New Price Targets

A number of analysts have commented on PBF shares. Scotiabank lowered their target price on shares of PBF Energy from $56.00 to $45.00 and set a “sector perform” rating for the company in a report on Friday, July 12th. Wolfe Research assumed coverage on shares of PBF Energy in a research report on Thursday, July 18th. They issued a “peer perform” rating on the stock. UBS Group cut their price objective on shares of PBF Energy from $57.00 to $44.00 and set a “neutral” rating on the stock in a research report on Tuesday. Piper Sandler cut their price objective on shares of PBF Energy from $54.00 to $47.00 and set a “neutral” rating on the stock in a research report on Friday, June 14th. Finally, TD Cowen cut their price objective on shares of PBF Energy from $54.00 to $45.00 and set a “hold” rating on the stock in a research report on Friday, May 3rd. Nine research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $53.80.

Insider Buying and Selling at PBF Energy

In other PBF Energy news, insider Control Empresarial De Capital bought 50,000 shares of the stock in a transaction dated Monday, August 5th. The shares were bought at an average cost of $35.60 per share, with a total value of $1,780,000.00. Following the completion of the acquisition, the insider now owns 18,179,598 shares of the company’s stock, valued at $647,193,688.80. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders have purchased a total of 2,448,100 shares of company stock valued at $106,825,157 in the last three months. 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.