PBF Energy (PBF) Set to Announce Quarterly Earnings on Thursday

PBF Energy (NYSE:PBF) will be issuing its quarterly earnings data before the market opens on Thursday, May 2nd. Analysts expect the company to announce earnings of $0.59 per share for the quarter. Parties interested in participating in the company’s conference call can do so using this link.

PBF Energy (NYSE:PBF) last announced its quarterly earnings results on Thursday, February 15th. The oil and gas company reported ($0.41) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.49). The firm had revenue of $9.14 billion during the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same quarter in the previous year, the firm earned $4.41 EPS. 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 Performance

Shares of PBF Energy stock opened at $57.21 on Thursday. The stock has a market cap of $6.84 billion, a price-to-earnings ratio of 3.48 and a beta of 1.73. The firm’s 50-day moving average is $54.12 and its 200 day moving average is $48.60. PBF Energy has a 1 year low of $31.25 and a 1 year high of $62.88. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.56 and a quick ratio of 0.81.

PBF Energy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, March 14th. Shareholders of record on Thursday, February 29th were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.75%. The ex-dividend date was Wednesday, February 28th. PBF Energy’s dividend payout ratio is currently 6.08%.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on PBF shares. Bank of America upgraded shares of PBF Energy from a “neutral” rating to a “buy” rating and upped their target price for the company from $52.00 to $74.00 in a research note on Friday, March 15th. Citigroup started coverage on shares of PBF Energy in a research report on Wednesday, January 24th. They set a “neutral” rating for the company. JPMorgan Chase & Co. upped their price target on shares of PBF Energy from $54.00 to $59.00 and gave the company an “overweight” rating in a research report on Monday, April 1st. Wells Fargo & Company upped their price target on shares of PBF Energy from $65.00 to $71.00 and gave the company an “overweight” rating in a research report on Thursday, April 11th. Finally, TD Cowen upped their price target on shares of PBF Energy from $35.00 to $41.00 and gave the company a “market perform” rating in a research report on Friday, February 16th. Nine investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $57.55.

Insider Buying and Selling

In other PBF Energy news, SVP Connor Thomas L. O sold 40,000 shares of the stock in a transaction on Tuesday, March 19th. The stock was sold at an average price of $55.87, for a total value of $2,234,800.00. Following the sale, the senior vice president now owns 160,338 shares in the company, valued at $8,958,084.06. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other PBF Energy news, SVP Connor Thomas L. O sold 40,000 shares of PBF Energy stock in a transaction dated Tuesday, March 19th. The stock was sold at an average price of $55.87, for a total value of $2,234,800.00. Following the transaction, the senior vice president now owns 160,338 shares in the company, valued at $8,958,084.06. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Paul T. Davis sold 100,000 shares of PBF Energy stock in a transaction dated Monday, March 25th. The shares were sold at an average price of $56.37, for a total value of $5,637,000.00. Following the completion of the transaction, the senior vice president now owns 110,978 shares in the company, valued at approximately $6,255,829.86. The disclosure for this sale can be found here. Insiders sold a total of 180,000 shares of company stock worth $10,074,600 over the last three months. 6.20% of the stock is owned by insiders.

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.