PBF Energy Inc. (PBF) Announces Earnings Results
PBF Energy Inc. (NYSE:PBF) released its earnings results on Thursday. The oil and gas company reported $1.44 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.22 by $0.22, Bloomberg Earnings reports. PBF Energy had a negative return on equity of 4.98% and a negative net margin of 0.23%. The firm had revenue of $5.48 billion for the quarter, compared to analysts’ expectations of $4.90 billion. During the same quarter in the previous year, the business posted ($0.16) earnings per share. The business’s revenue for the quarter was up 21.4% on a year-over-year basis.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 29th. Investors of record on Monday, November 13th will be paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.87%. The ex-dividend date is Friday, November 10th. PBF Energy’s dividend payout ratio is currently -363.64%.
A number of research analysts have issued reports on the company. Zacks Investment Research cut PBF Energy from a “buy” rating to a “hold” rating in a research report on Tuesday. Macquarie reissued a “neutral” rating on shares of PBF Energy in a research note on Monday, October 23rd. Royal Bank Of Canada reissued a “hold” rating and set a $28.00 price target on shares of PBF Energy in a research note on Wednesday, October 18th. Cowen and Company reissued a “buy” rating and set a $30.00 price target on shares of PBF Energy in a research note on Tuesday, October 17th. Finally, Barclays PLC reissued an “underweight” rating and set a $26.00 price target (up from $24.00) on shares of PBF Energy in a research note on Tuesday, October 10th. Three analysts have rated the stock with a sell rating, ten have given a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $25.78.
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PBF Energy Company Profile
PBF Energy Inc (PBF Energy) is a holding company. The Company is an independent petroleum refiner and supplier of unbranded transportation fuels, heating oil, petrochemical feedstocks, lubricants and other petroleum products in the United States. The Company operates through two segments: Refining and Logistics.
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