Q3 2024 EPS Estimates for PBF Energy Inc. (NYSE:PBF) Lifted by Zacks Research

PBF Energy Inc. (NYSE:PBF) – Zacks Research upped their Q3 2024 earnings estimates for PBF Energy in a research report issued to clients and investors on Monday, September 9th. Zacks Research analyst R. Department now expects that the oil and gas company will post earnings of $1.29 per share for the quarter, up from their prior estimate of $1.27. The consensus estimate for PBF Energy’s current full-year earnings is $1.61 per share. Zacks Research also issued estimates for PBF Energy’s FY2024 earnings at $1.60 EPS, Q1 2025 earnings at $0.08 EPS, Q2 2025 earnings at $1.50 EPS, Q3 2025 earnings at $0.80 EPS, Q4 2025 earnings at $0.77 EPS, FY2025 earnings at $3.15 EPS, Q1 2026 earnings at $0.59 EPS, Q2 2026 earnings at $0.68 EPS and FY2026 earnings at $2.61 EPS.

PBF Energy (NYSE:PBF) last posted its quarterly earnings data on Thursday, August 1st. The oil and gas company reported ($0.54) EPS for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.39). The company had revenue of $8.74 billion for the quarter, compared to the consensus estimate of $8.64 billion. PBF Energy had a return on equity of 12.81% and a net margin of 2.09%. PBF Energy’s revenue was down 4.6% on a year-over-year basis. During the same quarter last year, the business earned $2.29 EPS.

A number of other equities research analysts also recently issued reports on the stock. Wolfe Research initiated coverage on shares of PBF Energy in a research note on Thursday, July 18th. They set a “peer perform” rating on the stock. Mizuho reduced their price target on shares of PBF Energy from $58.00 to $54.00 and set a “neutral” rating on the stock in a research report on Thursday, June 20th. Tudor, Pickering, Holt & Co. downgraded shares of PBF Energy from a “hold” rating to a “sell” rating in a research report on Monday. UBS Group reduced their target price on PBF Energy from $57.00 to $44.00 and set a “neutral” rating on the stock in a report on Tuesday, August 13th. Finally, Piper Sandler lowered their price target on PBF Energy from $54.00 to $47.00 and set a “neutral” rating for the company in a report on Friday, June 14th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, PBF Energy presently has a consensus rating of “Hold” and an average target price of $52.30.

PBF Energy Stock Up 1.1 %

Shares of NYSE PBF opened at $31.50 on Wednesday. The stock has a market capitalization of $3.73 billion, a P/E ratio of 2.18 and a beta of 1.56. The stock’s fifty day moving average is $36.73 and its 200 day moving average is $46.20. PBF Energy has a 52 week low of $30.61 and a 52 week high of $62.88. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.75 and a current ratio of 1.42.

PBF Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 29th. Investors of record on Thursday, August 15th were given a dividend of $0.25 per share. The ex-dividend date was Thursday, August 15th. This represents a $1.00 dividend on an annualized basis and a yield of 3.17%. PBF Energy’s dividend payout ratio is currently 6.92%.

Insiders Place Their Bets

In other news, insider Control Empresarial De Capital purchased 805,300 shares of the business’s stock in a transaction dated Thursday, September 5th. The shares were purchased at an average cost of $32.62 per share, with a total value of $26,268,886.00. Following the completion of the purchase, the insider now owns 20,634,898 shares of the company’s stock, valued at approximately $673,110,372.76. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders bought a total of 2,417,500 shares of company stock valued at $90,094,314 in the last 90 days. Corporate insiders own 5.30% of the company’s stock.

Hedge Funds Weigh In On PBF Energy

Large investors have recently modified their holdings of the business. Private Advisor Group LLC acquired a new stake in PBF Energy in the fourth quarter valued at $283,000. BNP Paribas Financial Markets raised its position in shares of PBF Energy by 162.1% during the fourth quarter. BNP Paribas Financial Markets now owns 135,835 shares of the oil and gas company’s stock worth $5,971,000 after acquiring an additional 84,003 shares during the last quarter. Jump Financial LLC lifted its stake in shares of PBF Energy by 57.0% in the fourth quarter. Jump Financial LLC now owns 25,565 shares of the oil and gas company’s stock worth $1,124,000 after acquiring an additional 9,284 shares during the period. Principal Financial Group Inc. boosted its holdings in PBF Energy by 2.1% in the fourth quarter. Principal Financial Group Inc. now owns 469,134 shares of the oil and gas company’s stock valued at $20,623,000 after acquiring an additional 9,427 shares during the last quarter. Finally, Inceptionr LLC increased its position in PBF Energy by 57.6% during the 4th quarter. Inceptionr LLC now owns 6,677 shares of the oil and gas company’s stock valued at $294,000 after purchasing an additional 2,441 shares during the period. Institutional investors own 96.29% of the company’s stock.

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.