PBF Energy Inc. (NYSE:PBF – Get Free Report) announced a quarterly dividend on Thursday, April 30th. Investors of record on Thursday, May 14th will be given a dividend of 0.275 per share by the oil and gas company on Friday, May 29th. This represents a c) dividend on an annualized basis and a yield of 2.6%. The ex-dividend date of this dividend is Thursday, May 14th.
PBF Energy has increased its dividend 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 research analysts expect PBF Energy to earn $4.62 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 23.8%.
PBF Energy Stock Up 4.5%
PBF stock opened at $42.54 on Tuesday. PBF Energy has a twelve month low of $17.53 and a twelve month high of $52.18. The company has a market cap of $5.03 billion, a PE ratio of 11.47, a price-to-earnings-growth ratio of 0.17 and a beta of 0.15. The business’s 50-day simple moving average is $43.30 and its 200 day simple moving average is $36.48. The company has a quick ratio of 0.62, a current ratio of 1.31 and a debt-to-equity ratio of 0.50.
Analyst Upgrades and Downgrades
A number of research firms recently weighed in on PBF. Piper Sandler lifted their target price on PBF Energy from $41.00 to $42.00 and gave the stock an “overweight” rating in a research report on Friday, February 13th. TD Cowen cut their price target on shares of PBF Energy from $41.00 to $36.00 and set a “sell” rating for the company in a research note on Monday, April 27th. Wall Street Zen cut shares of PBF Energy from a “buy” rating to a “hold” rating in a research note on Saturday, April 18th. Morgan Stanley raised their price target on shares of PBF Energy from $27.00 to $34.00 and gave the stock an “underweight” rating in a research note on Friday, April 24th. Finally, Citigroup raised their price target on shares of PBF Energy from $36.00 to $43.00 and gave the stock a “neutral” rating in a research note on Friday, May 1st. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, seven have assigned a Hold rating and five have issued a Sell rating to the company. Based on data from MarketBeat.com, PBF Energy presently has a consensus rating of “Reduce” and a consensus target price of $35.92.
Get Our Latest Research Report on PBF Energy
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.
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