FY2024 EPS Estimates for PBF Energy Cut by Zacks Research

PBF Energy Inc. (NYSE:PBF) – Equities researchers at Zacks Research cut their FY2024 earnings per share estimates for shares of PBF Energy in a report released on Wednesday, January 15th. Zacks Research analyst R. Department now forecasts that the oil and gas company will earn ($3.40) per share for the year, down from their prior estimate of ($2.57). The consensus estimate for PBF Energy’s current full-year earnings is ($2.95) per share. Zacks Research also issued estimates for PBF Energy’s Q4 2024 earnings at ($2.21) EPS, Q1 2025 earnings at ($0.79) EPS, Q2 2025 earnings at $0.47 EPS, Q3 2025 earnings at $0.20 EPS, Q4 2025 earnings at ($0.89) EPS, FY2025 earnings at ($1.01) EPS, Q1 2026 earnings at $0.56 EPS, Q2 2026 earnings at $0.57 EPS, Q3 2026 earnings at $0.69 EPS, Q4 2026 earnings at $0.69 EPS and FY2026 earnings at $2.52 EPS.

PBF has been the subject of several other reports. Scotiabank cut their target price on shares of PBF Energy from $45.00 to $31.00 and set a “sector perform” rating for the company in a research note on Thursday, October 10th. JPMorgan Chase & Co. reduced their target price on PBF Energy from $36.00 to $35.00 and set a “neutral” rating on the stock in a report on Friday, January 10th. Bank of America began coverage on PBF Energy in a report on Thursday, October 17th. They set an “underperform” rating and a $25.00 price target for the company. Mizuho downgraded PBF Energy from a “neutral” rating to an “underperform” rating and lowered their target price for the company from $33.00 to $31.00 in a research report on Monday, December 16th. Finally, TD Cowen cut shares of PBF Energy from a “hold” rating to a “sell” rating and reduced their price target for the stock from $27.00 to $20.00 in a research report on Friday, December 20th. Seven research analysts have rated the stock with a sell rating and nine have issued a hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $32.00.

PBF Energy Trading Up 1.8 %

Shares of PBF opened at $31.03 on Monday. PBF Energy has a 1 year low of $24.21 and a 1 year high of $62.88. The company has a 50 day simple moving average of $29.16 and a two-hundred day simple moving average of $32.67. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.34 and a quick ratio of 0.65. The firm has a market cap of $3.57 billion, a P/E ratio of -11.98 and a beta of 1.61.

PBF Energy (NYSE:PBF) last released its earnings results on Thursday, October 31st. The oil and gas company reported ($1.50) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.41) by ($0.09). PBF Energy had a negative return on equity of 2.84% and a negative net margin of 0.84%. The business had revenue of $8.38 billion for the quarter, compared to analysts’ expectations of $8.27 billion. During the same quarter in the prior year, the business posted $6.61 EPS. The business’s revenue for the quarter was down 21.9% compared to the same quarter last year.

PBF Energy Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders of record on Wednesday, November 13th were given a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a dividend yield of 3.54%. The ex-dividend date was Wednesday, November 13th. This is a positive change from PBF Energy’s previous quarterly dividend of $0.25. PBF Energy’s payout ratio is -42.47%.

Insider Activity

In related news, insider Control Empresarial De Capital acquired 287,100 shares of the firm’s stock in a transaction that occurred on Wednesday, October 23rd. The stock was bought at an average price of $31.91 per share, for a total transaction of $9,161,361.00. Following the acquisition, the insider now directly owns 24,751,498 shares of the company’s stock, valued at $789,820,301.18. This represents a 1.17 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Over the last 90 days, insiders have acquired 2,469,600 shares of company stock valued at $73,932,721. 5.30% of the stock is currently owned by insiders.

Institutional Trading of PBF Energy

A number of large investors have recently modified their holdings of the company. Healthcare of Ontario Pension Plan Trust Fund increased its holdings in PBF Energy by 391.9% during the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,540,000 shares of the oil and gas company’s stock worth $47,663,000 after purchasing an additional 1,226,909 shares during the period. BNP Paribas Financial Markets increased its stake in shares of PBF Energy by 132.6% during the third quarter. BNP Paribas Financial Markets now owns 863,228 shares of the oil and gas company’s stock valued at $26,717,000 after buying an additional 492,053 shares during the period. Recurrent Investment Advisors LLC bought a new stake in shares of PBF Energy in the third quarter valued at about $11,516,000. Hsbc Holdings PLC lifted its stake in PBF Energy by 246.5% in the second quarter. Hsbc Holdings PLC now owns 499,456 shares of the oil and gas company’s stock worth $22,881,000 after acquiring an additional 355,329 shares during the period. Finally, Hotchkis & Wiley Capital Management LLC bought a new position in PBF Energy during the 3rd quarter worth about $10,506,000. Hedge funds and other institutional investors own 96.29% of the company’s stock.

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.