Zacks Research Weighs in on PBF Energy FY2024 Earnings

PBF Energy Inc. (NYSE:PBFFree Report) – Analysts at Zacks Research decreased their FY2024 earnings per share (EPS) estimates for shares of PBF Energy in a research report issued on Wednesday, January 15th. Zacks Research analyst R. Department now anticipates that the oil and gas company will post earnings per share of ($3.40) for the year, down from their prior estimate of ($2.57). The consensus estimate for PBF Energy’s current full-year earnings is ($2.95) per share. Zacks Research also issued estimates for PBF Energy’s Q4 2024 earnings at ($2.21) EPS, Q1 2025 earnings at ($0.79) EPS, Q2 2025 earnings at $0.47 EPS, Q3 2025 earnings at $0.20 EPS, Q4 2025 earnings at ($0.89) EPS, FY2025 earnings at ($1.01) EPS, Q1 2026 earnings at $0.56 EPS, Q2 2026 earnings at $0.57 EPS, Q3 2026 earnings at $0.69 EPS, Q4 2026 earnings at $0.69 EPS and FY2026 earnings at $2.52 EPS.

PBF Energy (NYSE:PBFGet Free Report) last released its quarterly 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 company had revenue of $8.38 billion during the quarter, compared to the consensus estimate of $8.27 billion. During the same quarter last year, the firm earned $6.61 EPS. The business’s revenue was down 21.9% on a year-over-year basis.

PBF has been the subject of a number of other research reports. The Goldman Sachs Group lowered their target price 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. Wells Fargo & Company downgraded shares of PBF Energy from an “overweight” rating to an “equal weight” rating and reduced their target price for the stock from $39.00 to $34.00 in a research report on Monday, December 9th. Scotiabank decreased their price target on shares of PBF Energy from $45.00 to $31.00 and set a “sector perform” rating for the company in a research note on Thursday, October 10th. Mizuho cut shares of PBF Energy from a “neutral” rating to an “underperform” rating and cut their price objective for the stock from $33.00 to $31.00 in a report on Monday, December 16th. Finally, Bank of America initiated coverage on shares of PBF Energy in a report on Thursday, October 17th. They set an “underperform” rating and a $25.00 target price for the company. Seven equities research analysts have rated the stock with a sell rating and nine have issued a hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $32.00.

Get Our Latest Stock Analysis on PBF

PBF Energy Stock Performance

PBF Energy stock opened at $31.03 on Monday. PBF Energy has a fifty-two week low of $24.21 and a fifty-two week high of $62.88. The stock’s 50 day simple moving average is $29.16 and its two-hundred day simple moving average is $32.67. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.65 and a current ratio of 1.34. The stock has a market cap of $3.57 billion, a price-to-earnings ratio of -11.98 and a beta of 1.61.

Hedge Funds Weigh In On PBF Energy

Several hedge funds and other institutional investors have recently modified their holdings of PBF. Healthcare of Ontario Pension Plan Trust Fund increased its position in PBF Energy by 391.9% during the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,540,000 shares of the oil and gas company’s stock valued at $47,663,000 after acquiring an additional 1,226,909 shares during the last quarter. BNP Paribas Financial Markets increased its position in shares of PBF Energy by 132.6% during the 3rd quarter. BNP Paribas Financial Markets now owns 863,228 shares of the oil and gas company’s stock valued at $26,717,000 after purchasing an additional 492,053 shares during the last quarter. Private Management Group Inc. lifted its stake in shares of PBF Energy by 27.5% in the 3rd quarter. Private Management Group Inc. now owns 848,696 shares of the oil and gas company’s stock worth $26,267,000 after purchasing an additional 183,183 shares during the period. AQR Capital Management LLC boosted its holdings in shares of PBF Energy by 14.8% in the second quarter. AQR Capital Management LLC now owns 654,464 shares of the oil and gas company’s stock worth $29,883,000 after buying an additional 84,532 shares during the last quarter. Finally, Hara Capital LLC grew its position in PBF Energy by 28.9% during the third quarter. Hara Capital LLC now owns 506,317 shares of the oil and gas company’s stock valued at $15,670,000 after buying an additional 113,519 shares during the period. 96.29% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, insider Control Empresarial De Capital bought 409,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 27th. The shares were bought at an average price of $31.58 per share, for a total transaction of $12,916,220.00. Following the completion of the acquisition, the insider now owns 27,368,498 shares of the company’s stock, valued at $864,297,166.84. This trade represents a 1.52 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In the last ninety days, insiders acquired 2,469,600 shares of company stock worth $73,932,721. 5.30% of the stock is owned by corporate insiders.

PBF Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Wednesday, November 13th were given a dividend of $0.275 per share. The ex-dividend date was Wednesday, November 13th. This is a boost from PBF Energy’s previous quarterly dividend of $0.25. This represents a $1.10 annualized dividend and a dividend yield of 3.54%. PBF Energy’s dividend payout ratio (DPR) is -42.47%.

About PBF Energy

(Get Free Report)

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.

Further Reading

Earnings History and Estimates for PBF Energy (NYSE:PBF)

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