PBF Energy Inc. (PBF) To Go Ex-Dividend on May 15th

PBF Energy Inc. (NYSE:PBF) announced a quarterly dividend on Friday, May 2nd, Wall Street Journal reports. Stockholders of record on Thursday, May 15th will be paid a dividend of 0.275 per share by the oil and gas company on Thursday, May 29th. This represents a $1.10 annualized dividend and a dividend yield of 5.29%. The ex-dividend date is Thursday, May 15th.

PBF Energy has a dividend payout ratio of 305.6% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. 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 Stock Performance

NYSE PBF opened at $20.79 on Tuesday. The business has a 50 day moving average price of $18.01 and a 200 day moving average price of $24.61. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.25 and a quick ratio of 0.54. The company has a market capitalization of $2.40 billion, a P/E ratio of -4.41 and a beta of 0.76. PBF Energy has a 1-year low of $13.62 and a 1-year high of $51.63.

PBF Energy (NYSE:PBF) last released its quarterly earnings results on Thursday, May 1st. The oil and gas company reported ($3.09) earnings per share (EPS) for the quarter, topping the consensus estimate of ($3.50) by $0.41. PBF Energy had a negative return on equity of 7.40% and a negative net margin of 1.61%. The business had revenue of $7.07 billion during the quarter, compared to the consensus estimate of $6.27 billion. During the same quarter in the previous year, the company posted $0.85 EPS. The business’s revenue was down 18.3% on a year-over-year basis. Sell-side analysts expect that PBF Energy will post -1.12 EPS for the current fiscal year.

Analyst Ratings Changes

PBF has been the topic of several recent research reports. UBS Group raised shares of PBF Energy from a “neutral” rating to a “buy” rating and upped their price target for the company from $20.00 to $26.00 in a report on Tuesday. Scotiabank lowered their target price on PBF Energy from $25.00 to $16.00 and set a “sector perform” rating on the stock in a report on Friday, April 11th. JPMorgan Chase & Co. dropped their price target on PBF Energy from $31.00 to $29.00 and set a “neutral” rating for the company in a research report on Tuesday, March 11th. TD Cowen reduced their price objective on PBF Energy from $19.00 to $17.00 and set a “sell” rating on the stock in a research report on Tuesday, March 11th. Finally, Mizuho dropped their price objective on PBF Energy from $28.00 to $22.00 and set an “underperform” rating for the company in a research report on Tuesday, April 1st. Seven investment analysts have rated the stock with a sell rating, seven have issued a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $22.82.

Insider Buying and Selling at PBF Energy

In other news, insider Control Empresarial De Capital acquired 20,000 shares of the company’s stock in a transaction dated Friday, March 28th. The stock was acquired at an average cost of $19.09 per share, for a total transaction of $381,800.00. Following the acquisition, the insider now directly owns 30,534,998 shares in the company, valued at approximately $582,913,111.82. This represents a 0.07% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Insiders acquired 331,000 shares of company stock worth $6,075,180 in the last 90 days. 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.