FY2024 EPS Estimates for PBF Energy Cut by Zacks Research

PBF Energy Inc. (NYSE:PBFFree Report) – Stock analysts at Zacks Research lowered their FY2024 earnings per share (EPS) estimates for PBF Energy in a report released on Wednesday, January 15th. Zacks Research analyst R. Department now expects that the oil and gas company will earn ($3.40) per share for the year, down from their previous estimate of ($2.57). The consensus estimate for PBF Energy’s current full-year earnings is ($3.42) per share. Zacks Research also issued estimates for PBF Energy’s Q4 2024 earnings at ($2.21) EPS, Q1 2025 earnings at ($0.79) EPS, Q2 2025 earnings at $0.47 EPS, Q3 2025 earnings at $0.20 EPS, Q4 2025 earnings at ($0.89) EPS, FY2025 earnings at ($1.01) EPS, Q1 2026 earnings at $0.56 EPS, Q2 2026 earnings at $0.57 EPS, Q3 2026 earnings at $0.69 EPS, Q4 2026 earnings at $0.69 EPS and FY2026 earnings at $2.52 EPS.

Several other research analysts have also recently commented on the stock. TD Cowen cut shares of PBF Energy from a “hold” rating to a “sell” rating and reduced their target price for the stock from $27.00 to $20.00 in a report on Friday, December 20th. JPMorgan Chase & Co. decreased their price target on PBF Energy from $36.00 to $35.00 and set a “neutral” rating for the company in a research note on Friday, January 10th. The Goldman Sachs Group dropped their price objective on PBF Energy from $38.00 to $34.00 and set a “neutral” rating on the stock in a research note on Tuesday, December 10th. StockNews.com cut shares of PBF Energy from a “hold” rating to a “sell” rating in a research note on Monday, November 4th. Finally, Mizuho lowered shares of PBF Energy from a “neutral” rating to an “underperform” rating and dropped their price target for the stock from $33.00 to $31.00 in a research report on Monday, December 16th. Seven equities research analysts have rated the stock with a sell rating and nine have issued a hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $32.00.

Read Our Latest Stock Analysis on PBF

PBF Energy Stock Performance

Shares of PBF Energy stock opened at $30.77 on Monday. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.34 and a quick ratio of 0.65. The firm has a market cap of $3.54 billion, a price-to-earnings ratio of -11.88 and a beta of 1.61. PBF Energy has a one year low of $24.21 and a one year high of $62.88. The stock’s 50-day moving average is $29.17 and its 200-day moving average is $32.57.

PBF Energy (NYSE:PBFGet Free Report) last released its quarterly earnings results on Thursday, October 31st. The oil and gas company reported ($1.50) earnings per share for the quarter, missing the consensus estimate of ($1.41) by ($0.09). The company had revenue of $8.38 billion during the quarter, compared to analyst estimates of $8.27 billion. PBF Energy had a negative net margin of 0.84% and a negative return on equity of 2.84%. The firm’s quarterly revenue was down 21.9% compared to the same quarter last year. During the same quarter last year, the company earned $6.61 EPS.

Institutional Investors Weigh In On PBF Energy

Several institutional investors have recently made changes to their positions in the stock. Neo Ivy Capital Management bought a new stake in PBF Energy during the third quarter worth about $2,404,000. Dakota Wealth Management acquired a new position in shares of PBF Energy in the 3rd quarter valued at approximately $694,000. Intech Investment Management LLC lifted its holdings in shares of PBF Energy by 165.9% during the 3rd quarter. Intech Investment Management LLC now owns 46,107 shares of the oil and gas company’s stock worth $1,427,000 after acquiring an additional 28,770 shares during the period. State of New Jersey Common Pension Fund D boosted its holdings in shares of PBF Energy by 44.1% in the 3rd quarter. State of New Jersey Common Pension Fund D now owns 59,424 shares of the oil and gas company’s stock valued at $1,839,000 after purchasing an additional 18,173 shares in the last quarter. Finally, Bridgewater Associates LP boosted its stake in PBF Energy by 40.5% in the third quarter. Bridgewater Associates LP now owns 93,566 shares of the oil and gas company’s stock valued at $2,896,000 after buying an additional 26,952 shares in the last quarter. 96.29% of the stock is currently owned by institutional investors.

Insider Transactions at PBF Energy

In other PBF Energy news, insider Control Empresarial De Capital purchased 70,000 shares of the stock in a transaction that occurred on Thursday, December 26th. The shares were acquired at an average cost of $25.56 per share, with a total value of $1,789,200.00. Following the completion of the transaction, the insider now owns 28,884,998 shares in the company, valued at $738,300,548.88. The trade was a 0.24 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last quarter, insiders have bought 2,182,500 shares of company stock worth $64,771,360. Company insiders own 6.20% of the company’s stock.

PBF Energy Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Wednesday, November 13th were paid a $0.275 dividend. The ex-dividend date of this dividend was Wednesday, November 13th. This represents a $1.10 dividend on an annualized basis and a yield of 3.57%. This is a positive change from PBF Energy’s previous quarterly dividend of $0.25. PBF Energy’s dividend payout ratio is -42.47%.

About PBF Energy

(Get Free Report)

PBF Energy Inc, through its subsidiaries, engages in refining and supplying petroleum products. The company operates in two segments, Refining and Logistics. It produces gasoline, ultra-low-sulfur diesel, heating oil, diesel fuel, jet fuel, lubricants, petrochemicals, and asphalt, as well as unbranded transportation fuels, petrochemical feedstocks, blending components, and other petroleum products from crude oil.

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Earnings History and Estimates for PBF Energy (NYSE:PBF)

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