PBF Energy FY2024 EPS Estimate Reduced by Zacks Research

PBF Energy Inc. (NYSE:PBF) – Equities researchers at Zacks Research dropped their FY2024 earnings estimates for PBF Energy in a research note issued on Wednesday, January 15th. Zacks Research analyst R. Department now expects that the oil and gas company will post earnings per share of ($3.40) for the year, down from their prior forecast of ($2.57). The consensus estimate for PBF Energy’s current full-year earnings is ($2.95) 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 brokerages have also recently commented on PBF. BMO Capital Markets cut shares of PBF Energy from an “outperform” rating to a “market perform” rating and dropped their target price for the company from $42.00 to $35.00 in a research report on Friday, October 4th. TD Cowen cut shares of PBF Energy from a “hold” rating to a “sell” rating and dropped their target price for the company from $27.00 to $20.00 in a research report on Friday, December 20th. Scotiabank lowered their price objective on shares of PBF Energy from $45.00 to $31.00 and set a “sector perform” rating for the company in a research report on Thursday, October 10th. JPMorgan Chase & Co. lowered their price objective on shares of PBF Energy from $36.00 to $35.00 and set a “neutral” rating for the company in a research report on Friday, January 10th. Finally, The Goldman Sachs Group reduced their target price on shares of PBF Energy from $38.00 to $34.00 and set a “neutral” rating on the stock in a report on Tuesday, December 10th. Seven equities research analysts have rated the stock with a sell rating and nine have issued a hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $32.00.

PBF Energy Stock Performance

Shares of PBF stock opened at $31.03 on Monday. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.65 and a current ratio of 1.34. The company has a market capitalization of $3.57 billion, a price-to-earnings ratio of -11.98 and a beta of 1.61. PBF Energy has a 52 week low of $24.21 and a 52 week high of $62.88. The company has a 50-day simple moving average of $29.16 and a 200 day simple moving average of $32.67.

PBF Energy (NYSE:PBF) last issued its quarterly earnings results on Thursday, October 31st. The oil and gas company reported ($1.50) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.41) by ($0.09). The business 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% on a year-over-year basis. During the same quarter in the previous year, the firm posted $6.61 earnings per share.

PBF Energy Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders of record on Wednesday, November 13th were paid a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a yield of 3.54%. The ex-dividend date of this dividend was Wednesday, November 13th. This is a boost from PBF Energy’s previous quarterly dividend of $0.25. PBF Energy’s payout ratio is currently -42.47%.

Insiders Place Their Bets

In other news, insider Control Empresarial De Capital purchased 100,000 shares of the stock in a transaction that occurred on Tuesday, January 14th. The stock was bought at an average cost of $28.62 per share, for a total transaction of $2,862,000.00. Following the acquisition, the insider now directly owns 28,984,998 shares of the company’s stock, valued at $829,550,642.76. This represents a 0.35 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders purchased a total of 2,469,600 shares of company stock valued at $73,932,721 in the last quarter. Corporate insiders own 6.20% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. Leavell Investment Management Inc. raised its holdings in PBF Energy by 3.0% in the 3rd quarter. Leavell Investment Management Inc. now owns 15,770 shares of the oil and gas company’s stock worth $488,000 after purchasing an additional 460 shares in the last quarter. Nisa Investment Advisors LLC grew its position in PBF Energy by 1.7% during the 3rd quarter. Nisa Investment Advisors LLC now owns 28,853 shares of the oil and gas company’s stock valued at $893,000 after purchasing an additional 485 shares during the last quarter. Verdence Capital Advisors LLC grew its position in PBF Energy by 4.4% during the 3rd quarter. Verdence Capital Advisors LLC now owns 12,915 shares of the oil and gas company’s stock valued at $400,000 after purchasing an additional 543 shares during the last quarter. Farther Finance Advisors LLC grew its position in PBF Energy by 27.9% during the 3rd quarter. Farther Finance Advisors LLC now owns 2,626 shares of the oil and gas company’s stock valued at $81,000 after purchasing an additional 573 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in PBF Energy by 2.5% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 25,282 shares of the oil and gas company’s stock valued at $782,000 after acquiring an additional 620 shares during the period. 96.29% of the stock is currently owned by institutional investors.

About PBF Energy

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.