PBF Energy (PBF) Scheduled to Post Quarterly Earnings on Thursday

PBF Energy (NYSE:PBF) is scheduled to be issuing its quarterly earnings data before the market opens on Thursday, October 31st. Analysts expect the company to announce earnings of $0.08 per share for the quarter. Individual interested in registering for the company’s earnings conference call can do so using this link.

PBF Energy (NYSE:PBF) last released its quarterly earnings data on Thursday, August 1st. The oil and gas company reported ($0.54) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.39). PBF Energy had a net margin of 2.09% and a return on equity of 12.81%. The business had revenue of $8.74 billion during the quarter, compared to the consensus estimate of $8.64 billion. During the same period last year, the business posted $2.29 earnings per share. The firm’s quarterly revenue was down 4.6% on a year-over-year basis. On average, analysts expect PBF Energy to post $-2 EPS for the current fiscal year and $1 EPS for the next fiscal year.

PBF Energy Stock Down 8.0 %

PBF opened at $29.07 on Wednesday. The firm has a market capitalization of $3.41 billion, a P/E ratio of 4.84 and a beta of 1.55. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.42 and a quick ratio of 0.75. PBF Energy has a fifty-two week low of $28.92 and a fifty-two week high of $62.88. The company’s 50-day moving average is $32.49 and its 200 day moving average is $40.86.

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 paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $1.00 annualized dividend and a yield of 3.44%. PBF Energy’s dividend payout ratio is currently 16.64%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on PBF. Piper Sandler lowered shares of PBF Energy from a “neutral” rating to an “underweight” rating and lowered their price objective for the stock from $47.00 to $25.00 in a report on Friday, September 20th. Bank of America started coverage on shares of PBF Energy in a research report on Thursday, October 17th. They set an “underperform” rating and a $25.00 price objective on the stock. BMO Capital Markets cut shares of PBF Energy from an “outperform” rating to a “market perform” rating and lowered their target price for the company from $42.00 to $35.00 in a research note on Friday, October 4th. The Goldman Sachs Group decreased their target price on shares of PBF Energy from $45.00 to $39.00 and set a “neutral” rating on the stock in a research note on Friday, October 4th. Finally, Wolfe Research began coverage on shares of PBF Energy in a report on Thursday, July 18th. They issued a “peer perform” rating for the company. Four analysts have rated the stock with a sell rating, eleven have assigned a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, PBF Energy currently has a consensus rating of “Hold” and a consensus price target of $36.09.

Insider Buying and Selling

In related news, insider Control Empresarial De Capital acquired 50,000 shares of PBF Energy stock in a transaction dated Monday, August 5th. The shares were acquired at an average cost of $35.60 per share, for a total transaction of $1,780,000.00. Following the completion of the transaction, the insider now directly owns 18,179,598 shares of the company’s stock, valued at $647,193,688.80. The trade was a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders have acquired 4,239,400 shares of company stock valued at $138,211,387 over the last quarter. Company insiders own 6.20% 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.