PBF Energy (PBF) Declares $0.25 Dividend
PBF Energy said on February 15, 2024 that its board of directors declared a regular quarterly dividend of $0.25 per share ($1.00 annualized). Previously, the company paid $0.25 per share.
Shares must be purchased before the ex-div date of February 28, 2024 to qualify for the dividend. Shareholders of record as of February 29, 2024 will receive the payment on March 14, 2024.
At the current share price of $48.16 / share, the stock's dividend yield is 2.08%.
Looking back five years and taking a sample every week, the average dividend yield has been 3.26%, the lowest has been 1.47%, and the highest has been 20.30%. The standard deviation of yields is 2.22 (n=111).
The current dividend yield is 0.53 standard deviations below the historical average.
Additionally, the company's dividend payout ratio is 0.06. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
- Read the Ultimate Guide to Dividend Harvesting.
What is the Fund Sentiment?
There are 854 funds or institutions reporting positions in PBF Energy. This is an increase of 14 owner(s) or 1.67% in the last quarter. Average portfolio weight of all funds dedicated to PBF is 0.29%, an increase of 14.38%. Total shares owned by institutions increased in the last three months by 0.76% to 114,558K shares. 
The put/call ratio of PBF is 0.60, indicating a bullish outlook.
Analyst Price Forecast Suggests 4.74% Upside
As of January 19, 2024, the average one-year price target for PBF Energy is 50.44. The forecasts range from a low of 35.35 to a high of $70.35. The average price target represents an increase of 4.74% from its latest reported closing price of 48.16.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for PBF Energy is 34,676MM, a decrease of 9.52%. The projected annual non-GAAP EPS is 5.19.
What are Other Shareholders Doing?
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 3,456K shares representing 2.89% ownership of the company. In it's prior filing, the firm reported owning 3,484K shares, representing a decrease of 0.81%. The firm increased its portfolio allocation in PBF by 34.62% over the last quarter.
IJH - iShares Core S&P Mid-Cap ETF holds 3,438K shares representing 2.88% ownership of the company. In it's prior filing, the firm reported owning 3,328K shares, representing an increase of 3.20%. The firm increased its portfolio allocation in PBF by 32.38% over the last quarter.
Arrowstreet Capital, Limited Partnership holds 3,071K shares representing 2.57% ownership of the company. In it's prior filing, the firm reported owning 3,378K shares, representing a decrease of 10.01%. The firm decreased its portfolio allocation in PBF by 35.23% over the last quarter.
Bank of New York Mellon holds 2,911K shares representing 2.43% ownership of the company. In it's prior filing, the firm reported owning 3,332K shares, representing a decrease of 14.47%. The firm decreased its portfolio allocation in PBF by 33.82% over the last quarter.
NAESX - Vanguard Small-Cap Index Fund Investor Shares holds 2,863K shares representing 2.39% ownership of the company. In it's prior filing, the firm reported owning 2,930K shares, representing a decrease of 2.36%. The firm increased its portfolio allocation in PBF by 33.93% over the last quarter.
PBF Energy Background Information
(This description is provided by the company.)
PBF Energy Inc. is one of the largest independent refiners in North America, operating, through its subsidiaries, oil refineries and related facilities in California, Delaware, Louisiana, New Jersey and Ohio. The Company's mission is to operate its facilities in a safe, reliable and environmentally responsible manner, provide employees with a safe and rewarding workplace, become a positive influence in the communities where it does business, and provide superior returns to its investors.
Additional reading:
- February 16, 2024 Securities and Exchange Commission 100 F Street, N.E. Washington, D.C. 20549-7561 Dear Sirs/Madams: We have read Item 4.01 of PBF Energy Inc.’s and PBF Holding Company LLC's Form 8-K dated February 12, 2024, and have the following c
- PBF Energy Reports Fourth Quarter and Full Year 2023 Results, Declares Dividend of $0.25 per Share and Announces Increased Share Repurchase Authorization
- Exhibit 21.1 LIST OF SUBSIDIARIES Name Jurisdiction of Incorporation or Organization: PBF Energy Company LLC Delaware PBF Holding Company LLC Delaware PBF Services Company LLC Delaware PBF Investments LLC Delaware Delaware City Refining Company LLC D
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