PBF Energy Inc. (NYSE:PBF) to Issue Quarterly Dividend of $0.33

PBF Energy Inc. (NYSE:PBF) announced a quarterly dividend on Thursday, October 29th. Shareholders of record on Thursday, November 12th will be paid a dividend of $0.3250 per share by the oil and gas company on Tuesday, November 24th. This represents a $1.30 annualized dividend and a yield of 1.7%. The ex-dividend date is Thursday, November 12th. This is a 18.2% increase from PBF Energy’s previous quarterly dividend of $0.2750.

PBF Energy has raised its dividend payment by an average of 0.3% annually over the last three years and has raised 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 analysts expect PBF Energy to earn $20.74 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 5.3%.

PBF Energy Price Performance

PBF stock traded up $2.48 during midday trading on Thursday, reaching $75.76. The company had a trading volume of 3,638,754 shares, compared to its average volume of 3,335,385. The firm has a 50-day moving average price of $77.17 and a 200-day moving average price of $53.06. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.33 and a quick ratio of 0.67. The company has a market capitalization of $8.98 billion, a P/E ratio of 6.70, a P/E/G ratio of 0.08 and a beta of 0.18. PBF Energy has a 1 year low of $25.62 and a 1 year high of $92.46.

PBF Energy (NYSE:PBF) last posted its quarterly earnings data on Thursday, October 29th. The oil and gas company reported $12.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $11.12 by $1.66. PBF Energy had a net margin of 3.94% and a return on equity of 11.27%. The company had revenue of $12.13 billion during the quarter, compared to the consensus estimate of $10.60 billion. During the same period in the previous year, the firm posted ($0.52) EPS. The firm’s revenue was up 58.6% compared to the same quarter last year. On average, research analysts anticipate that PBF Energy will post 24.95 earnings per share for the current fiscal year.

PBF Energy News Roundup

Here are the key news stories impacting PBF Energy this week:

• Positive Sentiment: Major earnings and revenue beat: PBF reported third-quarter earnings of $12.78 per share, exceeding the $11.12 consensus estimate, while revenue rose 58.6% year over year to $12.13 billion versus expectations of $10.60 billion. The company swung from a $0.52-per-share loss in the prior-year quarter to substantial profitability. PBF Energy Q3 earnings report
• Positive Sentiment: Profitability and balance sheet improved: Third-quarter income from operations reached approximately $2.10 billion, compared with $285.9 million a year earlier. PBF ended the quarter with roughly $2.5 billion in cash and $2.1 billion in debt, while reporting significant net debt reduction. PBF Energy third-quarter results
• Positive Sentiment: Dividend increased: PBF raised its quarterly dividend 18.2% to $0.325 per share, or $1.30 annualized, offering a dividend yield of about 1.7%. The dividend is payable November 24 to shareholders of record on November 12. PBF Energy dividend announcement
• Positive Sentiment: Cost-savings target supports the outlook: PBF is intensifying refinery improvement efforts and targeting more than $350 million in savings, which could strengthen future cash flow and margins if achieved. PBF refinery improvement and savings initiative
• Neutral Sentiment: Although institutional investors showed notable buying activity in the latest reported quarter, refining earnings remain sensitive to fuel demand, crude costs and industry margins.
• Negative Sentiment: Reported insider-trading data showed substantial selling and no insider purchases during the past six months, which may temper investor confidence despite the strong quarterly performance.

About PBF Energy

PBF Energy Inc (NYSE:PBF) is an independent petroleum refiner and supplier of transportation fuels, heating oil, petrochemical feedstocks, lubricants, asphalt and other refined petroleum products. The company purchases crude oil and other feedstocks, processes them at its refineries, and sells the resulting products to branded and unbranded fuel retailers, distributors, wholesalers and commercial customers.

PBF operates refineries in several major U.S. refining regions, including the East Coast, Midwest, Gulf Coast and West Coast.