Analysts Issue Forecasts for PBF Energy Inc’s Q2 2017 Earnings (PBF)
PBF Energy Inc (NYSE:PBF) – Equities researchers at US Capital Advisors issued their Q2 2017 earnings estimates for PBF Energy in a report issued on Monday. US Capital Advisors analyst C. Weiland forecasts that the oil and gas company will earn $0.41 per share for the quarter. US Capital Advisors currently has a “Hold” rating on the stock. US Capital Advisors also issued estimates for PBF Energy’s Q3 2017 earnings at $0.82 EPS, Q4 2017 earnings at $0.10 EPS, Q1 2018 earnings at $0.19 EPS, Q2 2018 earnings at $0.80 EPS, Q3 2018 earnings at $0.83 EPS, Q4 2018 earnings at $0.03 EPS and FY2018 earnings at $1.84 EPS.
PBF Energy (NYSE:PBF) last posted its quarterly earnings results on Thursday, May 4th. The oil and gas company reported ($0.20) EPS for the quarter, beating the consensus estimate of ($0.46) by $0.26. The firm had revenue of $4.75 billion during the quarter, compared to analysts’ expectations of $4.29 billion. PBF Energy had a positive return on equity of 0.11% and a negative net margin of 0.02%. The company’s revenue for the quarter was up 69.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.65) EPS.
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Several other brokerages also recently issued reports on PBF. Scotiabank set a $25.00 price target on shares of PBF Energy and gave the stock a “buy” rating in a report on Thursday, February 16th. Morgan Stanley downgraded shares of PBF Energy from an “overweight” rating to an “equal weight” rating in a report on Monday, February 27th. Zacks Investment Research downgraded shares of PBF Energy from a “hold” rating to a “sell” rating in a report on Wednesday, February 8th. Goldman Sachs Group Inc upgraded shares of PBF Energy from a “sell” rating to a “neutral” rating and upped their price target for the stock from $22.00 to $23.00 in a report on Wednesday, April 5th. They noted that the move was a valuation call. Finally, Royal Bank of Canada reiterated a “hold” rating and set a $24.00 price target on shares of PBF Energy in a report on Monday, March 20th. Ten analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $24.15.
PBF Energy (NYSE:PBF) opened at 20.36 on Wednesday. The firm has a market cap of $2.23 billion, a PE ratio of 12.18 and a beta of 1.39. The firm has a 50-day moving average price of $21.54 and a 200 day moving average price of $23.71. PBF Energy has a 12-month low of $19.47 and a 12-month high of $30.98.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 31st. Investors of record on Tuesday, May 16th will be paid a $0.30 dividend. The ex-dividend date is Friday, May 12th. This represents a $1.20 annualized dividend and a dividend yield of 5.89%. PBF Energy’s dividend payout ratio is -2,400.00%.
Hedge funds have recently modified their holdings of the company. JPMorgan Chase & Co. boosted its stake in shares of PBF Energy by 1.9% in the first quarter. JPMorgan Chase & Co. now owns 10,931,080 shares of the oil and gas company’s stock valued at $242,343,000 after buying an additional 201,060 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of PBF Energy by 1.4% in the first quarter. Vanguard Group Inc. now owns 10,203,227 shares of the oil and gas company’s stock valued at $226,206,000 after buying an additional 141,619 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of PBF Energy by 49.6% in the first quarter. Dimensional Fund Advisors LP now owns 8,595,206 shares of the oil and gas company’s stock valued at $190,554,000 after buying an additional 2,850,233 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC boosted its stake in shares of PBF Energy by 6.7% in the fourth quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 7,363,313 shares of the oil and gas company’s stock valued at $205,289,000 after buying an additional 463,865 shares in the last quarter. Finally, BlackRock Inc. boosted its stake in shares of PBF Energy by 14,494.7% in the first quarter. BlackRock Inc. now owns 4,696,870 shares of the oil and gas company’s stock valued at $104,130,000 after buying an additional 4,664,688 shares in the last quarter. 98.70% of the stock is currently owned by institutional investors.
About PBF Energy
PBF Energy Inc (PBF Energy) is a holding company. The Company is an independent petroleum refiner and supplier of unbranded transportation fuels, heating oil, petrochemical feedstocks, lubricants and other petroleum products in the United States. The Company operates through two segments: Refining and Logistics.
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