Zacks Research Brokers Cut Earnings Estimates for PBF Energy Inc. (NYSE:PBF)

PBF Energy Inc. (NYSE:PBF) – Investment analysts at Zacks Research dropped their FY2024 earnings per share estimates for PBF Energy in a research report issued to clients and investors on Tuesday, September 17th. Zacks Research analyst R. Department now forecasts that the oil and gas company will earn $1.59 per share for the year, down from their prior forecast of $1.60. The consensus estimate for PBF Energy’s current full-year earnings is $1.25 per share. Zacks Research also issued estimates for PBF Energy’s Q1 2025 earnings at $0.07 EPS.

PBF Energy (NYSE:PBF) last released its earnings results on Thursday, August 1st. The oil and gas company reported ($0.54) earnings per share for the quarter, missing the consensus estimate 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 net margin of 2.09% and a return on equity of 12.81%. The business’s revenue for the quarter was down 4.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.29 EPS.

Other equities analysts also recently issued reports about the stock. Wolfe Research assumed coverage on shares of PBF Energy in a report on Thursday, July 18th. They set a “peer perform” rating on the stock. The Goldman Sachs Group reduced their price target on PBF Energy from $57.00 to $50.00 and set a “neutral” rating on the stock in a report on Monday, July 1st. Wells Fargo & Company decreased their price target on PBF Energy from $52.00 to $51.00 and set an “overweight” rating for the company in a research note on Tuesday, September 3rd. JPMorgan Chase & Co. cut their price objective on PBF Energy from $58.00 to $53.00 and set an “overweight” rating on the stock in a research report on Tuesday, July 2nd. Finally, Scotiabank reduced their target price on PBF Energy from $56.00 to $45.00 and set a “sector perform” rating on the stock in a research note on Friday, July 12th. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $47.91.

PBF Energy Trading Down 5.5 %

PBF stock opened at $32.01 on Friday. PBF Energy has a twelve month low of $30.61 and a twelve month high of $62.88. The stock has a market capitalization of $3.75 billion, a price-to-earnings ratio of 2.22 and a beta of 1.56. The company has a quick ratio of 0.75, a current ratio of 1.42 and a debt-to-equity ratio of 0.20. The firm’s fifty day simple moving average is $35.70 and its two-hundred day simple moving average is $45.58.

Hedge Funds Weigh In On PBF Energy

Several institutional investors and hedge funds have recently bought and sold shares of the company. Banque Cantonale Vaudoise grew its holdings in shares of PBF Energy by 10.4% during the first quarter. Banque Cantonale Vaudoise now owns 1,830 shares of the oil and gas company’s stock valued at $105,000 after buying an additional 172 shares during the last quarter. GAMMA Investing LLC lifted its position in PBF Energy by 95.3% during the 1st quarter. GAMMA Investing LLC now owns 459 shares of the oil and gas company’s stock worth $26,000 after acquiring an additional 224 shares during the period. Center For Asset Management LLC grew its stake in PBF Energy by 3.9% during the 1st quarter. Center For Asset Management LLC now owns 6,127 shares of the oil and gas company’s stock valued at $353,000 after purchasing an additional 228 shares during the last quarter. Quadrant Capital Group LLC increased its holdings in shares of PBF Energy by 12.8% in the fourth quarter. Quadrant Capital Group LLC now owns 2,598 shares of the oil and gas company’s stock valued at $114,000 after purchasing an additional 295 shares during the period. Finally, Retirement Systems of Alabama raised its stake in shares of PBF Energy by 0.3% in the first quarter. Retirement Systems of Alabama now owns 136,573 shares of the oil and gas company’s stock worth $7,863,000 after purchasing an additional 359 shares during the last quarter. 96.29% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at PBF Energy

In other news, insider Control Empresarial De Capital purchased 50,000 shares of the firm’s stock in a transaction on Monday, August 5th. The stock was acquired at an average cost of $35.60 per share, with a total value of $1,780,000.00. Following the completion of the transaction, the insider now owns 18,179,598 shares in the company, valued at approximately $647,193,688.80. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders have purchased a total of 2,684,300 shares of company stock valued at $93,389,546 over the last quarter. 5.30% of the stock is owned by corporate insiders.

PBF Energy Announces Dividend

The business 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. This represents a $1.00 dividend on an annualized basis and a yield of 3.12%. The ex-dividend date of this dividend was Thursday, August 15th. PBF Energy’s payout ratio is currently 6.92%.

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.