PBF Energy Inc. (PBF) To Go Ex-Dividend on August 14th

PBF Energy Inc. (NYSE:PBF) announced a quarterly dividend on Thursday, July 30th. Shareholders of record on Friday, August 14th will be paid a dividend of 0.275 per share by the oil and gas company on Friday, August 28th. This represents a c) dividend on an annualized basis and a yield of 1.5%. The ex-dividend date is Friday, August 14th.

PBF Energy has raised its dividend payment by an average of 0.3%per year 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 $6.99 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 15.7%.

PBF Energy Trading Down 1.3%

NYSE:PBF opened at $72.13 on Friday. The stock has a market cap of $8.53 billion, a PE ratio of 6.38, a price-to-earnings-growth ratio of 0.12 and a beta of 0.11. PBF Energy has a fifty-two week low of $21.24 and a fifty-two week high of $74.74. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.31 and a quick ratio of 0.62. The stock’s 50-day moving average is $49.20 and its two-hundred day moving average is $42.91.

PBF Energy (NYSE:PBF) last posted its quarterly earnings results on Thursday, July 30th. The oil and gas company reported $6.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.15 by $2.07. The business had revenue of $11.68 billion during the quarter, compared to analyst estimates of $9.61 billion. PBF Energy had a net margin of 3.94% and a return on equity of 11.81%. The firm’s revenue was up 56.2% compared to the same quarter last year. During the same period in the prior year, the firm earned ($1.03) earnings per share. As a group, equities research analysts forecast that PBF Energy will post 10.94 earnings per share for the current fiscal year.

Insider Activity at PBF Energy

In related news, insider Control Empresarial De Capital sold 570,000 shares of the company’s stock in a transaction on Monday, June 29th. The shares were sold at an average price of $46.36, for a total transaction of $26,425,200.00. Following the completion of the transaction, the insider directly owned 17,142,128 shares in the company, valued at $794,709,054.08. This represents a 3.22% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders sold 3,396,570 shares of company stock worth $163,978,356 in the last three months. 5.50% of the stock is owned by insiders.

Institutional Trading of PBF Energy

A number of institutional investors and hedge funds have recently modified their holdings of the company. Goldman Sachs Group Inc. lifted its position in PBF Energy by 127.9% in the fourth 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 4th 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 during the period. Dimensional Fund Advisors LP raised its stake in shares of PBF Energy by 11.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 4,366,331 shares of the oil and gas company’s stock valued at $207,953,000 after buying an additional 454,731 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its stake in shares of PBF Energy by 54.6% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 3,222,433 shares of the oil and gas company’s stock valued at $153,452,000 after buying an additional 1,137,533 shares in the last quarter. Finally, Invesco Ltd. lifted its holdings in shares of PBF Energy by 147.4% during the 3rd quarter. Invesco Ltd. now owns 2,772,258 shares of the oil and gas company’s stock worth $83,639,000 after acquiring an additional 1,651,516 shares during the period. 96.29% of the stock is currently owned by institutional investors.

PBF Energy Company Profile

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.