PBF Energy Inc. (NYSE:PBF) to Issue Quarterly Dividend of $0.28

Key Points

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PBF Energy Inc. (NYSE:PBF - Get Free Report) declared a quarterly dividend on Thursday, July 31st, RTT News reports. Investors of record on Thursday, August 14th will be paid a dividend of 0.275 per share by the oil and gas company on Thursday, August 28th. This represents a c) annualized dividend and a dividend yield of 4.9%. The ex-dividend date of this dividend is Thursday, August 14th.

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. Analysts expect PBF Energy to earn $1.40 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 78.6%.

PBF Energy Stock Up 3.6%

NYSE PBF traded up $0.78 during trading on Monday, hitting $22.46. The stock had a trading volume of 335,558 shares, compared to its average volume of 3,138,421. The company has a market capitalization of $2.60 billion, a PE ratio of -2.62 and a beta of 0.92. The company's 50-day moving average price is $22.71 and its two-hundred day moving average price is $21.86. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.55 and a current ratio of 1.31. PBF Energy has a 12 month low of $13.61 and a 12 month high of $37.99.

PBF Energy (NYSE:PBF - Get Free Report) last released its earnings results on Thursday, July 31st. The oil and gas company reported ($1.03) EPS for the quarter, beating the consensus estimate of ($1.19) by $0.16. The firm had revenue of $7.48 billion for the quarter, compared to analysts' expectations of $6.65 billion. PBF Energy had a negative return on equity of 17.46% and a negative net margin of 3.24%. The business's quarterly revenue was down 14.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.54) EPS. As a group, sell-side analysts forecast that PBF Energy will post -1.12 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the company. UBS Group upgraded PBF Energy from a "neutral" rating to a "buy" rating and boosted their target price for the company from $20.00 to $26.00 in a research note on Tuesday, May 13th. Scotiabank restated a "sector perform" rating and issued a $25.00 target price (up previously from $16.00) on shares of PBF Energy in a research note on Friday, July 11th. Piper Sandler upped their price objective on PBF Energy from $20.00 to $21.00 and gave the stock an "underweight" rating in a research note on Tuesday, July 22nd. Citigroup increased their price objective on PBF Energy from $16.00 to $29.00 and gave the company a "neutral" rating in a report on Wednesday, July 16th. Finally, Wells Fargo & Company upped their price target on shares of PBF Energy from $21.00 to $24.00 and gave the stock an "equal weight" rating in a research report on Tuesday, July 15th. Seven investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has issued a buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $25.08.

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.