PBF Energy Inc. (NYSE:PBF – Free Report) – Investment analysts at Zacks Research boosted their Q2 2024 earnings per share (EPS) estimates for PBF Energy in a note issued to investors on Monday, February 26th. Zacks Research analyst U. Dutta now forecasts that the oil and gas company will earn $2.09 per share for the quarter, up from their previous forecast of $1.62. The consensus estimate for PBF Energy’s current full-year earnings is $6.11 per share. Zacks Research also issued estimates for PBF Energy’s Q3 2024 earnings at $2.18 EPS, Q4 2024 earnings at $0.61 EPS, Q2 2025 earnings at $1.06 EPS, Q3 2025 earnings at $1.09 EPS, Q4 2025 earnings at $1.01 EPS and FY2025 earnings at $4.20 EPS.
A number of other analysts also recently commented on PBF. Citigroup began coverage on PBF Energy in a research report on Wednesday, January 24th. They set a “neutral” rating for the company. UBS Group decreased their price target on PBF Energy from $53.00 to $49.00 and set a “neutral” rating for the company in a research report on Thursday, December 7th. Piper Sandler reissued a “neutral” rating and issued a $50.00 target price (down from $65.00) on shares of PBF Energy in a research report on Monday, January 8th. JPMorgan Chase & Co. decreased their target price on PBF Energy from $55.00 to $54.00 and set an “overweight” rating for the company in a research report on Tuesday, February 20th. Finally, StockNews.com downgraded PBF Energy from a “buy” rating to a “hold” rating in a research report on Monday, December 18th. Eight research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $53.90.
PBF Energy Stock Performance
Shares of PBF opened at $46.61 on Wednesday. The company has a current ratio of 1.56, a quick ratio of 0.81 and a debt-to-equity ratio of 0.19. The company has a market capitalization of $5.57 billion, a price-to-earnings ratio of 2.83 and a beta of 1.72. The stock has a 50 day moving average of $46.50 and a 200 day moving average of $47.07. PBF Energy has a 12 month low of $31.25 and a 12 month high of $56.38.
PBF Energy (NYSE:PBF – Get Free Report) last issued its quarterly earnings data on Thursday, February 15th. The oil and gas company reported ($0.41) EPS for the quarter, missing the consensus estimate of $0.08 by ($0.49). The company had revenue of $9.14 billion during the quarter, compared to analysts’ expectations of $8.65 billion. PBF Energy had a return on equity of 23.69% and a net margin of 5.59%. The business’s revenue for the quarter was down 15.7% compared to the same quarter last year. During the same period last year, the company earned $4.41 earnings per share.
Institutional Inflows and Outflows
Hedge funds have recently bought and sold shares of the business. Parallel Advisors LLC increased its holdings in PBF Energy by 51.4% during the 2nd quarter. Parallel Advisors LLC now owns 695 shares of the oil and gas company’s stock valued at $28,000 after purchasing an additional 236 shares during the period. Fifth Third Bancorp boosted its position in PBF Energy by 39.8% during the 3rd quarter. Fifth Third Bancorp now owns 808 shares of the oil and gas company’s stock valued at $43,000 after acquiring an additional 230 shares in the last quarter. Fortitude Family Office LLC bought a new stake in PBF Energy during the 4th quarter valued at approximately $44,000. Nelson Van Denburg & Campbell Wealth Management Group LLC bought a new stake in PBF Energy during the 1st quarter valued at approximately $48,000. Finally, Farther Finance Advisors LLC boosted its position in PBF Energy by 473.5% during the 2nd quarter. Farther Finance Advisors LLC now owns 1,210 shares of the oil and gas company’s stock valued at $50,000 after acquiring an additional 999 shares in the last quarter. Hedge funds and other institutional investors own 89.56% of the company’s stock.
Insider Buying and Selling at PBF Energy
In other PBF Energy news, SVP Trecia M. Canty sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, December 19th. The stock was sold at an average price of $46.69, for a total transaction of $466,900.00. Following the sale, the senior vice president now owns 89,587 shares in the company, valued at $4,182,817.03. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, SVP Trecia M. Canty sold 10,000 shares of PBF Energy stock in a transaction dated Tuesday, December 19th. The stock was sold at an average price of $46.69, for a total value of $466,900.00. Following the transaction, the senior vice president now owns 89,587 shares in the company, valued at $4,182,817.03. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Control Empresarial De Capital acquired 770,000 shares of the firm’s stock in a transaction dated Tuesday, January 16th. The stock was bought at an average price of $42.95 per share, for a total transaction of $33,071,500.00. Following the acquisition, the insider now owns 13,832,998 shares of the company’s stock, valued at approximately $594,127,264.10. The disclosure for this purchase can be found here. Insiders have bought 1,268,200 shares of company stock worth $54,251,872 over the last 90 days. Corporate insiders own 5.30% of the company’s stock.
PBF Energy Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Thursday, March 14th. Shareholders of record on Thursday, February 29th will be given a dividend of $0.25 per share. The ex-dividend date is Wednesday, February 28th. This represents a $1.00 dividend on an annualized basis and a yield of 2.15%. PBF Energy’s payout ratio is 6.08%.
PBF Energy Company Profile
PBF Energy Inc, together with 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.
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