PBF Energy Inc. (NYSE:PBF) Plans Quarterly Dividend of $0.28

PBF Energy Inc. (NYSE:PBF) announced a quarterly dividend on Thursday, February 13th,RTT News reports. Shareholders of record on Thursday, February 27th will be paid a dividend of 0.275 per share by the oil and gas company on Friday, March 14th. This represents a $1.10 dividend on an annualized basis and a yield of 4.13%.

PBF Energy has a payout ratio of 70.1% indicating that its dividend is sufficiently covered by earnings. Research analysts expect PBF Energy to earn ($0.69) per share next year, which means the company may not be able to cover its $1.10 annual dividend with an expected future payout ratio of -159.4%.

PBF Energy Trading Down 7.3 %

Shares of NYSE:PBF opened at $26.64 on Thursday. The stock has a 50 day moving average of $28.43 and a 200 day moving average of $31.32. The company has a market cap of $3.07 billion, a PE ratio of -10.29 and a beta of 1.60. PBF Energy has a 12-month low of $24.21 and a 12-month high of $62.88. The company has a current ratio of 1.34, a quick ratio of 0.65 and a debt-to-equity ratio of 0.21.

PBF Energy (NYSE:PBF) last announced its quarterly earnings data on Thursday, February 13th. The oil and gas company reported ($2.82) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.80) by ($1.02). PBF Energy had a negative return on equity of 2.84% and a negative net margin of 0.84%. As a group, equities research analysts expect that PBF Energy will post -3.75 EPS for the current year.

Analysts Set New Price Targets

A number of research firms have commented on PBF. StockNews.com cut PBF Energy from a “hold” rating to a “sell” rating in a report on Monday, November 4th. TD Cowen cut PBF Energy from a “hold” rating to a “sell” rating and lowered their price target for the stock from $27.00 to $20.00 in a report on Friday, December 20th. The Goldman Sachs Group dropped their price target on PBF Energy from $38.00 to $34.00 and set a “neutral” rating for the company in a research note on Tuesday, December 10th. Bank of America began 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. Finally, Mizuho lowered shares of PBF Energy from a “neutral” rating to an “underperform” rating and dropped their target price for the stock from $33.00 to $31.00 in a research report on Monday, December 16th. Seven equities research analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $32.00.

Insider Activity

In other news, insider Control Empresarial De Capital acquired 100,000 shares of the business’s stock in a transaction on Tuesday, November 19th. The shares were acquired at an average price of $31.28 per share, for a total transaction of $3,128,000.00. Following the completion of the transaction, the insider now directly owns 26,532,498 shares of the company’s stock, valued at approximately $829,936,537.44. The trade was a 0.38 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In the last three months, insiders have acquired 1,968,500 shares of company stock worth $58,476,810. 5.30% of the stock is currently owned by corporate 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.