PBF Energy Inc (NYSE:PBF) Announces Dividend Increase – $0.30 Per Share

PBF Energy Inc (NYSE:PBF) declared a dividend on Thursday, October 31st, Fidelity reports. Investors of record on Thursday, November 14th will be paid a dividend of 0.30 per share by the oil and gas company on Tuesday, November 26th. The ex-dividend date is Wednesday, November 13th. This is a positive change from PBF Energy’s previous dividend of $0.29.

NYSE PBF traded up $0.60 on Tuesday, reaching $33.29. 281,756 shares of the stock traded hands, compared to its average volume of 1,744,266. PBF Energy has a 12 month low of $21.09 and a 12 month high of $40.91. The firm’s fifty day simple moving average is $29.28 and its 200 day simple moving average is $27.63. The company has a market cap of $3.92 billion, a price-to-earnings ratio of 10.21, a P/E/G ratio of 6.18 and a beta of 1.65. The company has a quick ratio of 0.64, a current ratio of 1.56 and a debt-to-equity ratio of 0.65.

PBF Energy (NYSE:PBF) last announced its quarterly earnings data on Thursday, October 31st. The oil and gas company reported $0.66 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.59 by $0.07. PBF Energy had a positive return on equity of 4.77% and a negative net margin of 0.36%. The business had revenue of $6.43 billion during the quarter, compared to analyst estimates of $6.29 billion. During the same period last year, the company earned $1.13 earnings per share. PBF Energy’s quarterly revenue was down 15.9% compared to the same quarter last year. As a group, equities research analysts forecast that PBF Energy will post 0.77 EPS for the current fiscal year.

Several brokerages have recently issued reports on PBF. Raymond James reaffirmed an “outperform” rating and issued a $39.00 price target (up from $34.00) on shares of PBF Energy in a research report on Friday, November 1st. Wells Fargo & Co raised their target price on PBF Energy from $39.00 to $41.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 25th. Royal Bank of Canada set a $32.00 target price on PBF Energy and gave the stock a “hold” rating in a research report on Friday, November 1st. Goldman Sachs Group upgraded PBF Energy from a “sell” rating to a “neutral” rating and set a $27.00 price target on the stock in a research note on Monday, August 5th. Finally, ValuEngine cut PBF Energy from a “buy” rating to a “hold” rating in a research note on Monday, November 4th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and seven have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $39.67.

In other news, insider Carso S.A. De C.V. Inversora bought 52,385 shares of the firm’s stock in a transaction that occurred on Friday, August 23rd. The shares were acquired at an average cost of $21.75 per share, with a total value of $1,139,373.75. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Over the last ninety days, insiders bought 1,114,653 shares of company stock worth $26,184,844. 3.50% of the stock is currently owned by company insiders.

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.

Further Reading: What is Depreciation?

Dividend History for PBF Energy (NYSE:PBF)

Receive News & Ratings for PBF Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PBF Energy and related companies with MarketBeat.com's FREE daily email newsletter.