PBF Energy Inc. (NYSE:PBF) Plans $0.28 Quarterly Dividend

Key Points

• PBF Energy declared a quarterly dividend of $0.275 per share, payable August 28 to shareholders of record on August 14, implying an annualized dividend of $1.10 and a 1.5% yield.
• The dividend payout ratio is currently high at 220% of earnings, though analysts expect stronger future earnings to reduce the projected payout ratio to 15.7%.
• PBF Energy reported quarterly EPS of $6.22, beating estimates of $4.15, while revenue rose 56.2% year over year to $11.68 billion.

PBF Energy Inc. (NYSE:PBF - Get Free Report) declared a quarterly dividend on Thursday, July 30th. Stockholders of record on Friday, August 14th will be paid a dividend of 0.275 per share by the oil and gas company on Friday, August 28th. This represents a c) annualized dividend and a dividend yield of 1.5%. The ex-dividend date is Friday, August 14th.

PBF Energy has increased its dividend by an average of 0.3%per year over the last three years and has raised its dividend every year for the last 2 years. PBF Energy has a dividend payout ratio of 220.0% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research analysts expect PBF Energy to earn $6.99 per share next year, which means the company should continue to be able to cover its $1.10 annual dividend with an expected future payout ratio of 15.7%.

PBF Energy Stock Performance

Shares of NYSE:PBF traded up $10.11 during midday trading on Thursday, reaching $73.46. 6,591,328 shares of the company traded hands, compared to its average volume of 3,375,678. The firm's fifty day moving average price is $47.88 and its two-hundred day moving average price is $42.42. The firm has a market capitalization of $8.69 billion, a price-to-earnings ratio of 19.80, a price-to-earnings-growth ratio of 0.10 and a beta of 0.11. The company has a quick ratio of 0.62, a current ratio of 1.31 and a debt-to-equity ratio of 0.50. PBF Energy has a 12 month low of $21.24 and a 12 month high of $74.74.

PBF Energy (NYSE:PBF - Get Free Report) last issued its earnings results on Thursday, July 30th. The oil and gas company reported $6.22 EPS for the quarter, topping the consensus estimate of $4.15 by $2.07. PBF Energy had a negative return on equity of 4.12% and a net margin of 1.46%.The business had revenue of $11.68 billion during the quarter, compared to the consensus estimate of $9.61 billion. During the same quarter last year, the company earned ($1.03) EPS. The firm's revenue was up 56.2% compared to the same quarter last year. On average, equities analysts expect that PBF Energy will post 10.94 earnings per share for the current year.

About PBF Energy

PBF Energy, Inc is an independent petroleum refiner organized in 2008 and headquartered in Parsippany, New Jersey. The company began trading on the New York Stock Exchange in July 2012 under the ticker symbol PBF. Since its formation, PBF Energy has grown through acquisitions and operational optimization, positioning itself as a leading supplier of refined petroleum products in the United States.

The company owns and operates five refineries located along the U.S. Gulf Coast, East Coast and in the Pacific Northwest, with a combined crude oil processing capacity of approximately 900,000 barrels per day.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.