PBF Energy (NYSE:PBF) Stock Price Up 4.5% Following Dividend Announcement

PBF Energy Inc. (NYSE:PBF) shares were up 4.5% during trading on Monday after the company announced a dividend. The company traded as high as $18.32 and last traded at $18.32. Approximately 1,238,193 shares changed hands during mid-day trading, a decline of 49% from the average daily volume of 2,428,965 shares. The stock had previously closed at $17.53.

The newly announced dividend which will be paid on Thursday, May 29th. Investors of record on Thursday, May 15th will be paid a dividend of $0.275 per share. The ex-dividend date is Thursday, May 15th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 5.97%. PBF Energy’s payout ratio is currently -12.09%.

Analysts Set New Price Targets

A number of analysts have issued reports on PBF shares. Mizuho decreased their price target on PBF Energy from $28.00 to $22.00 and set an “underperform” rating for the company in a report on Tuesday, April 1st. Morgan Stanley dropped their target price on shares of PBF Energy from $28.00 to $20.00 and set an “equal weight” rating on the stock in a research report on Thursday, April 24th. TD Cowen reduced their price target on shares of PBF Energy from $19.00 to $17.00 and set a “sell” rating for the company in a research report on Tuesday, March 11th. UBS Group reduced their target price on PBF Energy from $29.00 to $26.00 and set a “neutral” rating for the company in a report on Wednesday, February 19th. Finally, The Goldman Sachs Group dropped their price target on PBF Energy from $28.00 to $23.00 and set a “neutral” rating on the stock in a research note on Thursday, March 27th. Seven investment analysts have rated the stock with a sell rating and eight have given a hold rating to the company. Based on data from MarketBeat.com, PBF Energy currently has an average rating of “Hold” and an average target price of $22.82.

PBF Energy Trading Up 5.1 %

The company has a current ratio of 1.25, a quick ratio of 0.54 and a debt-to-equity ratio of 0.26. The business has a 50 day moving average price of $18.13 and a 200-day moving average price of $25.06. The firm has a market capitalization of $2.12 billion, a PE ratio of -3.91 and a beta of 0.76.

PBF Energy (NYSE:PBF) last released its quarterly earnings data on Thursday, May 1st. The oil and gas company reported ($3.09) earnings per share (EPS) for the quarter, topping the consensus estimate of ($3.50) by $0.41. The firm had revenue of $7.07 billion during the quarter, compared to analysts’ expectations of $6.27 billion. PBF Energy had a negative return on equity of 7.40% and a negative net margin of 1.61%. PBF Energy’s revenue was down 18.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.85 earnings per share. Analysts expect that PBF Energy Inc. will post -1.12 earnings per share for the current year.

Insider Activity

In other news, insider Control Empresarial De Capital bought 150,000 shares of the firm’s stock in a transaction on Thursday, February 6th. The shares were bought at an average cost of $28.70 per share, for a total transaction of $4,305,000.00. Following the completion of the transaction, the insider now owns 29,505,998 shares in the company, valued at $846,822,142.60. This trade represents a 0.51 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders purchased 481,000 shares of company stock worth $10,380,180 in the last 90 days. 5.30% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On PBF Energy

Institutional investors and hedge funds have recently made changes to their positions in the business. Verdence Capital Advisors LLC lifted its holdings in shares of PBF Energy by 10.1% in the first quarter. Verdence Capital Advisors LLC now owns 13,840 shares of the oil and gas company’s stock valued at $264,000 after purchasing an additional 1,269 shares in the last quarter. Victory Capital Management Inc. lifted its stake in PBF Energy by 163.6% in the 1st quarter. Victory Capital Management Inc. now owns 125,435 shares of the oil and gas company’s stock valued at $2,395,000 after buying an additional 77,858 shares in the last quarter. Signaturefd LLC grew its holdings in PBF Energy by 34.9% during the 1st quarter. Signaturefd LLC now owns 8,208 shares of the oil and gas company’s stock valued at $157,000 after buying an additional 2,124 shares during the last quarter. Edgestream Partners L.P. increased its position in PBF Energy by 48.9% during the first quarter. Edgestream Partners L.P. now owns 175,054 shares of the oil and gas company’s stock worth $3,342,000 after buying an additional 57,484 shares in the last quarter. Finally, CWM LLC raised its holdings in shares of PBF Energy by 290.9% in the first quarter. CWM LLC now owns 5,414 shares of the oil and gas company’s stock worth $103,000 after acquiring an additional 4,029 shares during the last quarter. 96.29% of the stock is currently owned by hedge funds and other institutional investors.

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.