PBF Energy Inc. (NYSE:PBF – Free Report) – Analysts at Scotiabank decreased their FY2024 earnings per share estimates for shares of PBF Energy in a research report issued on Wednesday, January 8th. Scotiabank analyst P. Cheng now expects that the oil and gas company will earn ($3.40) per share for the year, down from their previous forecast of ($3.35). Scotiabank has a “Sector Perform” rating and a $31.00 price objective on the stock. The consensus estimate for PBF Energy’s current full-year earnings is ($2.87) per share. Scotiabank also issued estimates for PBF Energy’s FY2025 earnings at ($2.20) EPS and FY2026 earnings at ($1.85) EPS.
PBF Energy (NYSE:PBF – Get Free Report) last issued its earnings results on Thursday, October 31st. The oil and gas company reported ($1.50) earnings per share for the quarter, missing the consensus estimate of ($1.41) by ($0.09). PBF Energy had a negative net margin of 0.84% and a negative return on equity of 2.84%. The firm had revenue of $8.38 billion during the quarter, compared to analyst estimates of $8.27 billion. During the same period last year, the business earned $6.61 EPS. The firm’s revenue was down 21.9% compared to the same quarter last year.
Read Our Latest Analysis on PBF Energy
PBF Energy Price Performance
Shares of PBF opened at $29.39 on Monday. The firm has a market capitalization of $3.38 billion, a price-to-earnings ratio of -11.35 and a beta of 1.61. The firm’s fifty day simple moving average is $29.14 and its 200-day simple moving average is $33.11. PBF Energy has a twelve month low of $24.21 and a twelve 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.
Hedge Funds Weigh In On PBF Energy
A number of hedge funds and other institutional investors have recently bought and sold shares of PBF. Leavell Investment Management Inc. lifted its stake in shares of PBF Energy by 3.0% in the 3rd quarter. Leavell Investment Management Inc. now owns 15,770 shares of the oil and gas company’s stock worth $488,000 after acquiring an additional 460 shares during the period. Nisa Investment Advisors LLC lifted its position in PBF Energy by 1.7% in the third quarter. Nisa Investment Advisors LLC now owns 28,853 shares of the oil and gas company’s stock valued at $893,000 after purchasing an additional 485 shares during the period. Verdence Capital Advisors LLC boosted its holdings in PBF Energy by 4.4% in the 3rd quarter. Verdence Capital Advisors LLC now owns 12,915 shares of the oil and gas company’s stock valued at $400,000 after purchasing an additional 543 shares in the last quarter. National Bank of Canada FI acquired a new position in PBF Energy during the 2nd quarter worth approximately $26,000. Finally, Farther Finance Advisors LLC raised its stake in shares of PBF Energy by 27.9% during the 3rd quarter. Farther Finance Advisors LLC now owns 2,626 shares of the oil and gas company’s stock worth $81,000 after buying an additional 573 shares in the last quarter. 96.29% of the stock is currently owned by hedge funds and other institutional investors.
Insider Activity
In related news, insider Control Empresarial De Capital bought 287,100 shares of the company’s stock in a transaction dated Wednesday, October 23rd. The shares were acquired at an average price of $31.91 per share, with a total value of $9,161,361.00. Following the completion of the acquisition, the insider now owns 24,751,498 shares in the company, valued at approximately $789,820,301.18. This trade represents a 1.17 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Over the last three months, insiders acquired 2,369,600 shares of company stock valued at $71,070,721. Insiders own 5.30% of the company’s stock.
PBF Energy Increases Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders of record on Wednesday, November 13th were paid a $0.275 dividend. The ex-dividend date of this dividend was Wednesday, November 13th. This is a positive change from PBF Energy’s previous quarterly dividend of $0.25. This represents a $1.10 dividend on an annualized basis and a yield of 3.74%. PBF Energy’s payout ratio is currently -42.47%.
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.
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