PBF Energy (NYSE:PBF) Issues Earnings Results

PBF Energy (NYSE:PBF) issued its quarterly earnings data on Thursday. The oil and gas company reported $6.22 EPS for the quarter, topping analysts’ consensus estimates of $4.15 by $2.07, FiscalAI reports. The firm had revenue of $11.68 billion during the quarter, compared to analyst estimates of $9.61 billion. PBF Energy had a negative return on equity of 4.12% and a net margin of 1.46%.The company’s revenue for the quarter was up 56.2% on a year-over-year basis. During the same period in the previous year, the company posted ($1.03) EPS.

Here are the key takeaways from PBF Energy’s conference call:

• Strong second-quarter results and cash generation: PBF reported adjusted EPS of $6.22, adjusted EBITDA of $1.24 billion, and $1.6 billion of operating cash flow, supported by tight global product markets.
• Balance-sheet improvement accelerated: The company reduced net debt by more than $1.4 billion, ended the quarter with $894 million in cash and 15% net debt-to-capital, and expects approximately $1.5 billion of cash by the end of July.
• Management sees an extended favorable refining environment: Geopolitical disruptions have taken more than 5 million barrels per day of refining capacity offline, while low product inventories and slow restocking could support elevated refining margins into 2027.
• Operational performance is improving but remains uneven: Martinez has returned to full operations, while the company is delaying several turnarounds to 2027 and expects about $60 million in annual procurement savings; however, Martinez’s hydrocracker turnaround and repairs at Chalmette remain upcoming execution items.
• Renewable-fuel compliance costs remain a significant burden: Management said the RFS program imposes roughly $14 per barrel of cost on PBF and warned that rising mandate requirements could create supply constraints, despite recent relief from lower RIN prices.

PBF Energy Stock Performance

Shares of NYSE:PBF traded up $10.11 during midday trading on Thursday, reaching $73.46. The company had a trading volume of 6,591,328 shares, compared to its average volume of 2,813,214. The stock has a market cap of $8.69 billion, a P/E ratio of 19.80, a P/E/G ratio of 0.10 and a beta of 0.11. The company’s 50 day moving average price is $48.57 and its 200 day moving average price is $42.71. The company has a current ratio of 1.31, a quick ratio of 0.62 and a debt-to-equity ratio of 0.50. PBF Energy has a 52-week low of $21.24 and a 52-week high of $74.74.

PBF Energy Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, August 28th. Investors of record on Friday, August 14th will be issued a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date of this dividend is Friday, August 14th. PBF Energy’s payout ratio is 29.65%.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of PBF Energy in a report on Monday, May 11th. The Goldman Sachs Group raised their price target on shares of PBF Energy from $51.00 to $71.00 and gave the company a “neutral” rating in a research report on Thursday, July 23rd. Wall Street Zen upgraded shares of PBF Energy from a “hold” rating to a “buy” rating in a report on Wednesday, July 22nd. Zacks Research raised shares of PBF Energy from a “hold” rating to a “strong-buy” rating in a research report on Thursday, July 23rd. Finally, Scotiabank increased their price objective on shares of PBF Energy from $28.00 to $34.00 and gave the company a “sector perform” rating in a research note on Wednesday, April 22nd. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, nine have issued a Hold rating and four have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $45.62.

Insider Transactions at PBF Energy

In other PBF Energy news, insider Control Empresarial De Capital sold 220,000 shares of PBF Energy stock in a transaction dated Monday, July 20th. The shares were sold at an average price of $63.96, for a total value of $14,071,200.00. Following the sale, the insider owned 15,492,128 shares of the company’s stock, valued at approximately $990,876,506.88. The trade was a 1.40% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders have sold a total of 3,396,570 shares of company stock worth $163,978,356 in the last three months. Company insiders own 5.50% of the company’s stock.

Institutional Investors Weigh In On PBF Energy

A number of hedge funds have recently modified their holdings of the stock. Royal Bank of Canada increased its position in PBF Energy by 63.6% in the first quarter. Royal Bank of Canada now owns 30,932 shares of the oil and gas company’s stock worth $590,000 after buying an additional 12,025 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of PBF Energy by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 59,723 shares of the oil and gas company’s stock valued at $1,140,000 after buying an additional 2,609 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of PBF Energy by 4.9% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 261,704 shares of the oil and gas company’s stock worth $4,996,000 after acquiring an additional 12,289 shares during the period. Acadian Asset Management LLC increased its holdings in PBF Energy by 261.0% in the 1st quarter. Acadian Asset Management LLC now owns 3,256 shares of the oil and gas company’s stock worth $62,000 after acquiring an additional 2,354 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership purchased a new stake in PBF Energy in the 2nd quarter worth about $1,143,000. Institutional investors own 96.29% of the company’s stock.

Key Stories Impacting PBF Energy

Here are the key news stories impacting PBF Energy this week:

• Positive Sentiment: Q2 results significantly exceeded expectations. PBF reported earnings of $6.22 per share versus the $4.05–$4.15 analyst consensus, compared with a $1.03 loss a year earlier. Revenue rose 56.2% year over year to $11.68 billion, well above the approximately $9.6 billion estimate. PBF Energy Announces Second Quarter 2026 Results
• Positive Sentiment: Refining conditions were highly favorable. Stronger crack spreads and market disruptions lifted refining margins, helping income from operations surge to $1.27 billion from $43 million in the prior-year quarter. PBF also delayed planned turnaround work at three refineries, which could preserve near-term production and cash flow. PBF Energy Delays Planned Turnaround Work
• Positive Sentiment: Debt reduction and operational milestones strengthened the outlook. PBF reduced gross debt by more than $1 billion during the quarter, received a $250 million installment related to the Martinez refinery fire and completed the refinery’s restart in May.
• Positive Sentiment: Shareholder returns and bullish trading activity provided additional support. The company declared a quarterly dividend of $0.275 per share, while investors purchased approximately 7,100 call options—about 69% above average daily volume—signaling increased short-term bullish interest.
• Neutral Sentiment: Analyst coverage remains cautious despite the earnings beat. PBF’s consensus rating is “Hold,” with several neutral or sell ratings and an average price target below the current market level; these targets may not yet reflect the latest results.
• Negative Sentiment: Control Empresarial De Capital sold 220,000 shares for approximately $14.1 million and has made multiple additional sales in recent weeks. The insider still owns a substantial position, but continued selling could weigh on sentiment.

About PBF Energy

PBF Energy, Inc is an independent petroleum refiner organized in 2008 and headquartered in Parsippany, New Jersey. The company began trading on the New York Stock Exchange in July 2012 under the ticker symbol PBF. Since its formation, PBF Energy has grown through acquisitions and operational optimization, positioning itself as a leading supplier of refined petroleum products in the United States.

The company owns and operates five refineries located along the U.S. Gulf Coast, East Coast and in the Pacific Northwest, with a combined crude oil processing capacity of approximately 900,000 barrels per day.