PBF Energy Inc. to Issue Quarterly Dividend of $0.30 (PBF)
PBF Energy Inc. (NYSE:PBF) declared a quarterly dividend on Thursday, November 2nd, NASDAQ reports. Stockholders of record on Monday, November 13th will be given a dividend of 0.30 per share by the oil and gas company on Wednesday, November 29th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.87%. The ex-dividend date of this dividend is Friday, November 10th.
PBF Energy has a dividend payout ratio of 95.2% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. Equities analysts expect PBF Energy to earn $2.49 per share next year, which means the company should continue to be able to cover its $1.20 annual dividend with an expected future payout ratio of 48.2%.
PBF Energy (NYSE:PBF) last posted its quarterly earnings results on Thursday, November 2nd. The oil and gas company reported $1.44 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.22 by $0.22. The business had revenue of $5.48 billion for the quarter, compared to analyst estimates of $4.90 billion. PBF Energy had a negative net margin of 0.23% and a negative return on equity of 4.98%. The firm’s revenue for the quarter was up 21.4% on a year-over-year basis. During the same quarter last year, the business posted ($0.16) EPS.
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Several analysts recently issued reports on PBF shares. Zacks Investment Research lowered shares of PBF Energy from a “hold” rating to a “sell” rating in a research report on Wednesday, July 12th. Piper Jaffray Companies reiterated a “hold” rating and set a $20.00 price target on shares of PBF Energy in a research report on Friday, July 14th. Citigroup Inc. reduced their price target on shares of PBF Energy from $37.50 to $33.50 and set a “buy” rating on the stock in a research report on Monday, July 17th. Wolfe Research lowered shares of PBF Energy from an “outperform” rating to a “market perform” rating in a research report on Tuesday, July 25th. Finally, BidaskClub lowered shares of PBF Energy from a “hold” rating to a “sell” rating in a research report on Thursday, July 27th. Three equities research analysts have rated the stock with a sell rating, ten have given a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $25.78.
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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