PBF Energy Inc. (PBF) to Issue Quarterly Dividend of $0.28 on March 11th

PBF Energy Inc. (NYSE:PBF) announced a quarterly dividend on Thursday, February 12th. Investors of record on Wednesday, February 25th will be paid a dividend of 0.275 per share by the oil and gas company on Wednesday, March 11th. This represents a c) dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date is Wednesday, February 25th.

PBF Energy has decreased its dividend by an average of 0.0%annually over the last three years and has increased its dividend every year for the last 2 years. PBF Energy has a payout ratio of 220.0% indicating that 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 $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 Trading Up 2.4%

NYSE:PBF opened at $34.47 on Friday. The company has a market capitalization of $3.99 billion, a PE ratio of -23.45, a P/E/G ratio of 5.95 and a beta of 0.50. PBF Energy has a 52-week low of $13.61 and a 52-week high of $41.47. The stock’s 50 day moving average price is $30.76 and its 200 day moving average price is $30.34. The company has a quick ratio of 0.59, a current ratio of 1.38 and a debt-to-equity ratio of 0.45.

PBF Energy (NYSE:PBF) last posted its quarterly earnings data on Thursday, February 12th. The oil and gas company reported $0.49 earnings per share for the quarter, beating the consensus estimate of ($0.15) by $0.64. The business had revenue of $7.14 billion during the quarter, compared to the consensus estimate of $7.17 billion. PBF Energy had a negative return on equity of 8.94% and a negative net margin of 0.54%.The company’s revenue was down 2.9% compared to the same quarter last year. During the same period in the prior year, the company earned ($2.82) earnings per share. On average, research analysts anticipate that PBF Energy will post -1.12 EPS for the current year.

Insider Transactions at PBF Energy

In other news, insider Control Empresarial De Capital sold 480,000 shares of the stock in a transaction that occurred on Wednesday, February 4th. The stock was sold at an average price of $35.07, for a total transaction of $16,833,600.00. Following the completion of the transaction, the insider directly owned 29,583,498 shares of the company’s stock, valued at approximately $1,037,493,274.86. This represents a 1.60% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In the last 90 days, insiders sold 2,385,879 shares of company stock worth $82,719,180. Insiders own 5.30% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. Goldman Sachs Group Inc. grew its stake in shares of PBF Energy by 127.9% during the 4th quarter. Goldman Sachs Group Inc. now owns 6,327,255 shares of the oil and gas company’s stock worth $171,595,000 after purchasing an additional 3,550,820 shares during the period. State Street Corp increased its holdings in PBF Energy by 1.3% in the fourth quarter. State Street Corp now owns 4,854,750 shares of the oil and gas company’s stock valued at $131,661,000 after buying an additional 60,294 shares in the last quarter. Invesco Ltd. increased its holdings in PBF Energy by 147.4% in the third quarter. Invesco Ltd. now owns 2,772,258 shares of the oil and gas company’s stock valued at $83,639,000 after buying an additional 1,651,516 shares in the last quarter. AQR Capital Management LLC boosted its stake in shares of PBF Energy by 20.1% during the 3rd quarter. AQR Capital Management LLC now owns 2,503,283 shares of the oil and gas company’s stock worth $75,524,000 after acquiring an additional 418,223 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of PBF Energy by 4.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,733,687 shares of the oil and gas company’s stock worth $47,018,000 after acquiring an additional 72,008 shares during the period. Hedge funds and other institutional investors own 96.29% of the company’s stock.

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.