PBF Energy Inc. (PBF) To Go Ex-Dividend on November 12th

PBF Energy Inc. (NYSE:PBF) announced a quarterly dividend on Thursday, October 29th. Investors of record on Thursday, November 12th will be given a dividend of $0.3250 per share by the oil and gas company on Tuesday, November 24th. This represents a $1.30 dividend on an annualized basis and a yield of 1.9%. 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 increased 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 dividend payout ratio of 260.0% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect PBF Energy to earn $20.48 per share next year, which means the company should continue to be able to cover its $1.30 annual dividend with an expected future payout ratio of 6.3%.

PBF Energy Stock Performance

NYSE:PBF opened at $69.57 on Tuesday. The company has a market cap of $8.25 billion, a P/E ratio of 3.11, a P/E/G ratio of 0.07 and a beta of 0.15. The firm’s 50 day moving average is $77.59 and its two-hundred day moving average is $54.71. PBF Energy has a fifty-two week low of $25.62 and a fifty-two week high of $92.46. The company has a quick ratio of 0.96, a current ratio of 1.59 and a debt-to-equity ratio of 0.26.

PBF Energy (NYSE:PBF) last announced its quarterly earnings data on Thursday, October 29th. The oil and gas company reported $12.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $11.12 by $1.66. The company had revenue of $12.13 billion during the quarter, compared to analysts’ expectations of $10.60 billion. PBF Energy had a net margin of 6.98% and a return on equity of 34.92%. The business’s quarterly revenue was up 58.6% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.52) EPS. Analysts expect that PBF Energy will post 26.78 EPS for the current year.

Insider Activity at PBF Energy

In other PBF Energy news, insider Control Empresarial De Capital sold 170,000 shares of the business’s stock in a transaction dated Thursday, October 8th. The stock was sold at an average price of $88.03, for a total transaction of $14,965,100.00. Following the transaction, the insider owned 13,326,127 shares in the company, valued at $1,173,098,959.81. The trade was a 1.26% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Steven John Andriola sold 2,522 shares of the company’s stock in a transaction dated Monday, November 2nd. The stock was sold at an average price of $76.69, for a total value of $193,412.18. Following the completion of the sale, the chief accounting officer directly owned 16,659 shares of the company’s stock, valued at $1,277,578.71. The trade was a 13.15% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 2,380,060 shares of company stock worth $181,363,248. Corporate insiders own 5.50% of the company’s stock.

Hedge Funds Weigh In On PBF Energy

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Prime Capital Investment Advisors LLC increased its stake in PBF Energy by 3.0% in the 3rd quarter. Prime Capital Investment Advisors LLC now owns 4,826 shares of the oil and gas company’s stock worth $371,000 after purchasing an additional 141 shares in the last quarter. Bessemer Group Inc. raised its holdings in PBF Energy by 25.5% during the 3rd quarter. Bessemer Group Inc. now owns 876 shares of the oil and gas company’s stock worth $67,000 after buying an additional 178 shares during the period. Brighton Jones LLC lifted its stake in PBF Energy by 1.8% during the third quarter. Brighton Jones LLC now owns 12,632 shares of the oil and gas company’s stock valued at $972,000 after buying an additional 220 shares in the last quarter. Parallel Advisors LLC lifted its stake in PBF Energy by 7.7% during the third quarter. Parallel Advisors LLC now owns 3,284 shares of the oil and gas company’s stock valued at $253,000 after buying an additional 234 shares in the last quarter. Finally, PNC Financial Services Group Inc. lifted its stake in PBF Energy by 3.9% during the first quarter. PNC Financial Services Group Inc. now owns 6,850 shares of the oil and gas company’s stock valued at $326,000 after buying an additional 260 shares in the last quarter. Hedge funds and other institutional investors own 96.29% of the company’s stock.

About PBF Energy

PBF Energy is an independent petroleum refiner and supplier headquartered in Parsippany, New Jersey. Founded in 2008, the company operates refineries in several U.S. regions, including the East Coast, Midwest, Gulf Coast and West Coast.

PBF processes crude oil and other feedstocks into transportation fuels and other petroleum products. Its product slate includes gasoline, diesel, jet fuel, heating oil, lubricants and petrochemical feedstocks, which it supplies to wholesale and commercial customers.

The company also has logistics operations that support the movement and storage of crude oil and refined products through pipelines, terminals and related infrastructure.