PBF Energy Inc (NYSE:PBF) – Stock analysts at Piper Jaffray Companies decreased their Q3 2019 earnings per share estimates for PBF Energy in a report released on Tuesday, February 19th. Piper Jaffray Companies analyst B. Fernandez now forecasts that the oil and gas company will post earnings per share of $0.95 for the quarter, down from their previous forecast of $1.07. Piper Jaffray Companies has a “Overweight” rating on the stock. Piper Jaffray Companies also issued estimates for PBF Energy’s Q4 2019 earnings at $0.16 EPS, Q2 2020 earnings at $1.72 EPS, Q3 2020 earnings at $1.70 EPS and Q4 2020 earnings at $0.79 EPS.
Several other equities research analysts have also recently weighed in on PBF. TheStreet cut PBF Energy from a “b” rating to a “c+” rating in a report on Friday, February 15th. ValuEngine upgraded PBF Energy from a “hold” rating to a “buy” rating in a research note on Tuesday, January 29th. Tudor Pickering cut PBF Energy from a “buy” rating to a “hold” rating in a research note on Friday, February 8th. Raymond James reduced their price objective on PBF Energy from $50.00 to $43.00 and set an “outperform” rating for the company in a research report on Monday, December 31st. Finally, Credit Suisse Group reduced their target price on PBF Energy from $51.00 to $47.00 and set a “neutral” rating for the company in a report on Monday, January 7th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and eight have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $47.18.
PBF Energy (NYSE:PBF) last announced its quarterly earnings data on Thursday, February 14th. The oil and gas company reported $1.03 EPS for the quarter, beating the consensus estimate of $0.77 by $0.26. The firm had revenue of $6.29 billion for the quarter, compared to analyst estimates of $6.62 billion. PBF Energy had a return on equity of 11.97% and a net margin of 0.47%. The company’s revenue was down 3.7% on a year-over-year basis. During the same period in the prior year, the company earned ($0.04) EPS.
A number of hedge funds and other institutional investors have recently bought and sold shares of PBF. Oregon Public Employees Retirement Fund boosted its stake in PBF Energy by 3,260.9% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 1,568,389 shares of the oil and gas company’s stock valued at $48,000 after acquiring an additional 1,521,723 shares during the last quarter. Penserra Capital Management LLC lifted its position in shares of PBF Energy by 675.4% in the 4th quarter. Penserra Capital Management LLC now owns 3,784 shares of the oil and gas company’s stock worth $123,000 after buying an additional 3,296 shares during the last quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC lifted its position in shares of PBF Energy by 53.5% in the 4th quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 4,790 shares of the oil and gas company’s stock worth $156,000 after buying an additional 1,670 shares during the last quarter. Harvest Fund Management Co. Ltd lifted its position in shares of PBF Energy by 172.7% in the 3rd quarter. Harvest Fund Management Co. Ltd now owns 3,908 shares of the oil and gas company’s stock worth $195,000 after buying an additional 2,475 shares during the last quarter. Finally, First Foundation Advisors bought a new position in shares of PBF Energy in the 3rd quarter worth about $207,000. Hedge funds and other institutional investors own 93.18% of the company’s stock.
The company also recently declared a quarterly dividend, which will be paid on Thursday, March 14th. Investors of record on Thursday, February 28th will be issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 3.41%. The ex-dividend date of this dividend is Wednesday, February 27th. PBF Energy’s payout ratio is 36.81%.
PBF Energy Company Profile
PBF Energy Inc, together with its subsidiaries, engages in the refining and supply of petroleum products. The company operates through 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.
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