PBF Energy (NYSE:PBF) Stock Price Up 4.5% After Dividend Announcement

Shares of PBF Energy Inc. (NYSE:PBF) shot up 4.5% on Monday following a dividend announcement from the company. The stock traded as high as $18.32 and last traded at $18.32. 1,238,193 shares traded hands during trading, a decline of 49% from the average session volume of 2,428,965 shares. The stock had previously closed at $17.53.

The newly announced dividend which will be paid on Thursday, May 29th. Stockholders of record on Thursday, May 15th will be paid a dividend of $0.275 per share. The ex-dividend date is Thursday, May 15th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 5.97%. PBF Energy’s payout ratio is -12.09%.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the company. The Goldman Sachs Group reduced their target price on PBF Energy from $28.00 to $23.00 and set a “neutral” rating for the company in a research note on Thursday, March 27th. Wells Fargo & Company decreased their price objective on shares of PBF Energy from $22.00 to $18.00 and set an “equal weight” rating on the stock in a report on Friday. UBS Group cut their target price on shares of PBF Energy from $29.00 to $26.00 and set a “neutral” rating for the company in a research note on Wednesday, February 19th. JPMorgan Chase & Co. decreased their price target on shares of PBF Energy from $31.00 to $29.00 and set a “neutral” rating on the stock in a research note on Tuesday, March 11th. Finally, Morgan Stanley cut their price objective on PBF Energy from $28.00 to $20.00 and set an “equal weight” rating for the company in a research note on Thursday, April 24th. Seven analysts have rated the stock with a sell rating and eight have issued a hold rating to the company. According to data from MarketBeat, PBF Energy has a consensus rating of “Hold” and a consensus target price of $22.82.

PBF Energy Stock Up 5.1 %

The company has a debt-to-equity ratio of 0.26, a current ratio of 1.25 and a quick ratio of 0.54. The company has a market capitalization of $2.12 billion, a PE ratio of -3.91 and a beta of 0.76. The business’s 50 day simple moving average is $18.13 and its 200 day simple moving average is $25.06.

PBF Energy (NYSE:PBF) last released its quarterly earnings results on Thursday, May 1st. The oil and gas company reported ($3.09) EPS for the quarter, beating the consensus estimate of ($3.50) by $0.41. The firm had revenue of $7.07 billion for the quarter, compared to analyst estimates of $6.27 billion. PBF Energy had a negative net margin of 1.61% and a negative return on equity of 7.40%. The business’s revenue for the quarter was down 18.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.85 EPS. As a group, analysts anticipate that PBF Energy Inc. will post -1.12 earnings per share for the current fiscal year.

Insider Transactions at PBF Energy

In other news, insider Control Empresarial De Capital purchased 15,000 shares of the firm’s stock in a transaction on Tuesday, April 15th. The shares were bought at an average cost of $14.44 per share, for a total transaction of $216,600.00. Following the completion of the purchase, the insider now directly owns 30,774,998 shares of the company’s stock, valued at approximately $444,390,971.12. This trade represents a 0.05 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In the last ninety days, insiders acquired 481,000 shares of company stock worth $10,380,180. 5.30% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On PBF Energy

Hedge funds have recently bought and sold shares of the company. Xponance Inc. lifted its position in shares of PBF Energy by 2.6% during the fourth quarter. Xponance Inc. now owns 14,123 shares of the oil and gas company’s stock worth $375,000 after purchasing an additional 364 shares in the last quarter. Yousif Capital Management LLC boosted its position in PBF Energy by 1.1% in the 4th quarter. Yousif Capital Management LLC now owns 40,836 shares of the oil and gas company’s stock valued at $1,084,000 after buying an additional 459 shares during the period. CANADA LIFE ASSURANCE Co grew its stake in shares of PBF Energy by 0.7% in the fourth quarter. CANADA LIFE ASSURANCE Co now owns 72,672 shares of the oil and gas company’s stock worth $1,931,000 after acquiring an additional 480 shares in the last quarter. Spire Wealth Management increased its position in shares of PBF Energy by 28.2% during the fourth quarter. Spire Wealth Management now owns 2,660 shares of the oil and gas company’s stock worth $71,000 after acquiring an additional 585 shares during the period. Finally, EverSource Wealth Advisors LLC raised its stake in shares of PBF Energy by 33.2% in the fourth quarter. EverSource Wealth Advisors LLC now owns 2,463 shares of the oil and gas company’s stock valued at $65,000 after acquiring an additional 614 shares in the last quarter. Institutional investors and hedge funds own 96.29% of the company’s stock.

About PBF Energy

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.