PBF Energy (NYSE:PBF) Issues Earnings Results

PBF Energy (NYSE:PBF) announced its quarterly earnings data on Thursday. The oil and gas company reported $0.83 earnings per share for the quarter, missing analysts’ consensus estimates of $0.87 by ($0.04), Morningstar.com reports. PBF Energy had a net margin of 1.23% and a return on equity of 8.25%. The firm had revenue of $6.56 billion during the quarter, compared to analysts’ expectations of $6.23 billion. During the same quarter in the previous year, the business posted $1.38 EPS. The company’s revenue for the quarter was down 11.9% on a year-over-year basis.

Shares of NYSE PBF traded down $0.57 during trading on Friday, hitting $24.55. 35,954 shares of the company were exchanged, compared to its average volume of 1,353,636. PBF Energy has a 12-month low of $23.67 and a 12-month high of $53.91. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.53 and a quick ratio of 0.54. The company’s fifty day moving average is $28.11. The stock has a market cap of $3.41 billion, a price-to-earnings ratio of 7.65, a PEG ratio of 3.05 and a beta of 1.61.

In other PBF Energy news, insider Carso S.A. De C.V. Inversora acquired 1,609,796 shares of the business’s stock in a transaction that occurred on Friday, May 24th. The stock was purchased at an average cost of $28.95 per share, with a total value of $46,603,594.20. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Thomas J. Nimbley acquired 40,000 shares of the business’s stock in a transaction that occurred on Friday, June 14th. The shares were acquired at an average cost of $23.76 per share, with a total value of $950,400.00. Following the completion of the transaction, the chief executive officer now directly owns 405,990 shares in the company, valued at approximately $9,646,322.40. The disclosure for this purchase can be found here. 3.50% of the stock is owned by insiders.

Large investors have recently modified their holdings of the stock. Two Sigma Advisers LP bought a new stake in PBF Energy during the 4th quarter worth approximately $516,000. Bank of America Corp DE increased its holdings in PBF Energy by 24.9% during the 4th quarter. Bank of America Corp DE now owns 527,868 shares of the oil and gas company’s stock worth $17,245,000 after acquiring an additional 105,327 shares during the period. Thrivent Financial for Lutherans increased its holdings in PBF Energy by 6.8% during the 4th quarter. Thrivent Financial for Lutherans now owns 30,444 shares of the oil and gas company’s stock worth $995,000 after acquiring an additional 1,933 shares during the period. Legal & General Group Plc increased its holdings in PBF Energy by 3.0% during the 4th quarter. Legal & General Group Plc now owns 228,644 shares of the oil and gas company’s stock worth $7,470,000 after acquiring an additional 6,668 shares during the period. Finally, Public Employees Retirement System of Ohio increased its holdings in PBF Energy by 79.8% during the 4th quarter. Public Employees Retirement System of Ohio now owns 98,785 shares of the oil and gas company’s stock worth $3,227,000 after acquiring an additional 43,847 shares during the period. 88.88% of the stock is owned by hedge funds and other institutional investors.

Several research firms have recently commented on PBF. Cowen reiterated a “market perform” rating and set a $30.00 price target (down previously from $33.00) on shares of PBF Energy in a report on Friday. Raymond James reduced their price target on PBF Energy from $41.00 to $40.00 and set an “outperform” rating on the stock in a report on Tuesday, April 9th. ValuEngine upgraded PBF Energy from a “strong sell” rating to a “sell” rating in a report on Saturday, June 22nd. Credit Suisse Group upgraded PBF Energy from a “neutral” rating to an “outperform” rating and set a $42.00 price target on the stock in a report on Wednesday, May 15th. Finally, Bank of America upgraded PBF Energy from an “underperform” rating to a “neutral” rating in a report on Monday, April 29th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and six have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $45.56.

PBF Energy Company Profile

PBF Energy, Inc engages in the operation of a petroleum refiner and supplier of unbranded transportation fuels, heating oil, petrochemical feedstocks, lubricants, and other petroleum products in the United States. It operates through the Refining and Logistics segments. The Refining segment refines crude oil and other feedstocks into petroleum products.

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Earnings History for PBF Energy (NYSE:PBF)

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