PBF Energy Inc. Plans Quarterly Dividend of $0.20 (NYSE:PBF)

PBF Energy Inc. (NYSE:PBF - Get Free Report) declared a quarterly dividend on Thursday, August 3rd, Zacks reports. Shareholders of record on Thursday, August 17th will be paid a dividend of 0.20 per share by the oil and gas company on Thursday, August 31st. This represents a $0.80 dividend on an annualized basis and a yield of 1.75%. The ex-dividend date is Wednesday, August 16th.

PBF Energy has decreased its dividend payment by an average of 45.0% per year over the last three years. PBF Energy has a dividend payout ratio of 12.9% indicating that its dividend is sufficiently covered by earnings. Research analysts expect PBF Energy to earn $6.46 per share next year, which means the company should continue to be able to cover its $0.80 annual dividend with an expected future payout ratio of 12.4%.

PBF Energy stock traded up $0.36 during trading hours on Friday, reaching $45.79. The company had a trading volume of 261,010 shares, compared to its average volume of 2,690,659. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.28 and a quick ratio of 0.66. The company has a 50-day moving average price of $41.31 and a 200 day moving average price of $40.66. The firm has a market cap of $5.77 billion, a price-to-earnings ratio of 1.78 and a beta of 1.92. PBF Energy has a 12-month low of $27.00 and a 12-month high of $49.00.

PBF Energy (NYSE:PBF - Get Free Report) last posted its earnings results on Thursday, August 3rd. The oil and gas company reported $2.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.22 by $0.07. PBF Energy had a return on equity of 69.19% and a net margin of 6.98%. The firm had revenue of $9.16 billion for the quarter, compared to analysts' expectations of $8.93 billion. During the same period in the previous year, the firm earned $10.58 earnings per share. The business's revenue was down 34.9% compared to the same quarter last year. Equities analysts forecast that PBF Energy will post 8.72 earnings per share for the current year.

Several hedge funds have recently added to or reduced their stakes in PBF. Moneta Group Investment Advisors LLC bought a new stake in PBF Energy in the fourth quarter worth $412,454,000. Norges Bank bought a new position in shares of PBF Energy during the fourth quarter valued at $43,996,000. Vanguard Group Inc. lifted its holdings in shares of PBF Energy by 9.6% during the first quarter. Vanguard Group Inc. now owns 12,265,760 shares of the oil and gas company's stock valued at $298,916,000 after purchasing an additional 1,077,287 shares in the last quarter. AQR Capital Management LLC lifted its holdings in shares of PBF Energy by 253.1% during the first quarter. AQR Capital Management LLC now owns 1,156,262 shares of the oil and gas company's stock valued at $49,569,000 after purchasing an additional 828,787 shares in the last quarter. Finally, Goldman Sachs Group Inc. lifted its holdings in shares of PBF Energy by 237.0% during the second quarter. Goldman Sachs Group Inc. now owns 1,165,317 shares of the oil and gas company's stock valued at $33,817,000 after purchasing an additional 819,543 shares in the last quarter. 82.02% of the stock is owned by institutional investors.

Several equities analysts have recently issued reports on the company. UBS Group reduced their target price on PBF Energy from $53.00 to $48.00 in a research note on Friday, June 30th. StockNews.com assumed coverage on PBF Energy in a research note on Thursday, May 18th. They set a "hold" rating on the stock. Mizuho boosted their target price on PBF Energy from $41.00 to $45.00 in a research note on Monday, July 10th. Piper Sandler reduced their target price on PBF Energy from $61.00 to $58.00 in a research note on Friday, July 14th. Finally, Wells Fargo & Company upped their price target on PBF Energy from $47.00 to $56.00 in a research note on Friday. Five investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $49.56.

View Our Latest Stock Analysis on PBF Energy

PBF Energy, Inc engages in the operation of a petroleum refinery and supplies unbranded transportation fuels, heating oil, petrochemical feed stocks, lubricants, and other petroleum products in the United States. It operates through the Refining and Logistics segments. The Refining segment involves refining crude oil and other feed stocks into petroleum products.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to [email protected].

Before you consider PBF Energy, you'll want to hear this.

MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and PBF Energy wasn't on the list.

While PBF Energy currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.

View The Five Stocks Here

As the AI market heats up, investors who have a vision for artificial intelligence have the potential to see real returns. Learn about the industry as a whole as well as seven companies that are getting work done with the power of AI.

Sign up for MarketBeat All Access to gain access to MarketBeat's full suite of research tools:

View the latest news, buy/sell ratings, SEC filings and insider transactions for your stocks. Compare your portfolio performance to leading indices and get personalized stock ideas based on your portfolio.

Get daily stock ideas from top-performing Wall Street analysts. Get short term trading ideas from the MarketBeat Idea Engine. View which stocks are hot on social media with MarketBeat's trending stocks report.

Identify stocks that meet your criteria using seven unique stock screeners. See what's happening in the market right now with MarketBeat's real-time news feed. Export data to Excel for your own analysis.