PBF Energy (PBF) Set to Announce Earnings on Thursday

PBF Energy (NYSE:PBF) is scheduled to announce its earnings results before the market opens on Thursday, May 2nd. Analysts expect the company to announce earnings of $0.59 per share for the quarter. Persons interested in registering for the company’s earnings conference call can do so using this link.

PBF Energy (NYSE:PBF) last posted its quarterly earnings results on Thursday, February 15th. The oil and gas company reported ($0.41) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.08 by ($0.49). PBF Energy had a return on equity of 23.69% and a net margin of 5.59%. The company had revenue of $9.14 billion during the quarter, compared to analysts’ expectations of $8.65 billion. During the same period in the prior year, the firm earned $4.41 EPS. PBF Energy’s revenue for the quarter was down 15.7% compared to the same quarter last year. On average, analysts expect PBF Energy to post $7 EPS for the current fiscal year and $6 EPS for the next fiscal year.

PBF Energy Stock Down 8.0 %

NYSE:PBF opened at $53.25 on Wednesday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.81 and a current ratio of 1.56. The firm has a market cap of $6.37 billion, a P/E ratio of 3.24 and a beta of 1.73. PBF Energy has a fifty-two week low of $31.25 and a fifty-two week high of $62.88. The firm has a 50-day simple moving average of $54.77 and a two-hundred day simple moving average of $48.88.

PBF Energy Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, March 14th. Investors of record on Thursday, February 29th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.88%. The ex-dividend date was Wednesday, February 28th. PBF Energy’s dividend payout ratio (DPR) is currently 6.08%.

Analyst Ratings Changes

Several research analysts have recently weighed in on the company. Scotiabank boosted their price target on PBF Energy from $39.00 to $56.00 and gave the stock a “sector perform” rating in a research note on Thursday, April 11th. Bank of America raised shares of PBF Energy from a “neutral” rating to a “buy” rating and raised their price target for the company from $52.00 to $74.00 in a report on Friday, March 15th. Mizuho downgraded shares of PBF Energy from a “buy” rating to a “neutral” rating and increased their price objective for the company from $53.00 to $58.00 in a research report on Friday, March 22nd. Piper Sandler increased their target price on PBF Energy from $50.00 to $61.00 and gave the company a “neutral” rating in a report on Friday, April 5th. Finally, JPMorgan Chase & Co. raised their price objective on shares of PBF Energy from $54.00 to $59.00 and gave the stock an “overweight” rating in a report on Monday, April 1st. Nine analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, PBF Energy presently has an average rating of “Hold” and an average price target of $57.55.

Insider Activity at PBF Energy

In related news, SVP Paul T. Davis sold 100,000 shares of PBF Energy stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of $56.37, for a total transaction of $5,637,000.00. Following the sale, the senior vice president now owns 110,978 shares of the company’s stock, valued at approximately $6,255,829.86. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, SVP Paul T. Davis sold 100,000 shares of the firm’s stock in a transaction on Monday, March 25th. The shares were sold at an average price of $56.37, for a total transaction of $5,637,000.00. Following the completion of the transaction, the senior vice president now directly owns 110,978 shares of the company’s stock, valued at $6,255,829.86. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Connor Thomas L. O sold 40,000 shares of the business’s stock in a transaction on Tuesday, March 19th. The stock was sold at an average price of $55.87, for a total transaction of $2,234,800.00. Following the completion of the sale, the senior vice president now owns 160,338 shares in the company, valued at approximately $8,958,084.06. The disclosure for this sale can be found here. In the last quarter, insiders have sold 180,000 shares of company stock worth $10,074,600. 6.20% of the stock is owned by corporate 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.