PBF Energy (NYSE:PBF) Announces Earnings Results, Beats Expectations By $2.07 EPS

PBF Energy (NYSE:PBF) released its quarterly earnings results on Thursday. The oil and gas company reported $6.22 earnings per share for the quarter, topping the consensus estimate of $4.15 by $2.07, FiscalAI reports. PBF Energy had a return on equity of 11.81% and a net margin of 3.94%.The company had revenue of $11.68 billion for the quarter, compared to analysts’ expectations of $9.61 billion. During the same period in the previous year, the business posted ($1.03) earnings per share. The business’s quarterly revenue was up 56.2% compared to the same quarter last year.

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 PBF traded down $0.97 on Friday, reaching $72.13. 3,096,423 shares of the company’s stock traded hands, compared to its average volume of 3,005,968. The stock has a market cap of $8.53 billion, a PE ratio of 6.38, a PEG ratio of 0.12 and a beta of 0.11. The company has a current ratio of 1.31, a quick ratio of 0.62 and a debt-to-equity ratio of 0.50. The stock’s 50 day simple moving average is $49.20 and its two-hundred day simple moving average is $42.91. PBF Energy has a 52-week low of $21.24 and a 52-week high of $74.74.

PBF Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 28th. Stockholders of record on Friday, August 14th will be paid 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 is Friday, August 14th. PBF Energy’s payout ratio is presently 29.65%.

Analyst Ratings Changes

PBF has been the subject of several recent research reports. The Goldman Sachs Group increased their price target on PBF Energy from $51.00 to $71.00 and gave the company a “neutral” rating in a research note on Thursday, July 23rd. Weiss Ratings reiterated a “sell (d-)” rating on shares of PBF Energy in a report on Monday, May 11th. Wall Street Zen upgraded PBF Energy from a “buy” rating to a “strong-buy” rating in a report on Saturday. Freedom Capital upgraded PBF Energy to a “hold” rating in a report on Tuesday, July 7th. Finally, Mizuho upped their target price on PBF Energy from $48.00 to $57.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 14th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, nine have assigned a Hold rating and four have issued a Sell rating to the stock. According to data from MarketBeat.com, PBF Energy has a consensus rating of “Hold” and a consensus target price of $46.31.

PBF Energy News Summary

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

• Positive Sentiment: Strong earnings rebound: PBF reported second-quarter EPS of $6.22, versus the $4.05–$4.15 consensus range and a loss of $1.03 a year earlier. Revenue rose 56.2% year over year to $11.68 billion, helped by stronger refining margins, higher throughput and the Martinez restart. PBF Energy Q2 Earnings Beat Estimates on Higher Refining Margins
• Positive Sentiment: Cash generation and debt reduction improved: PBF reported $1.27 billion of second-quarter operating income, received a $250 million Martinez-related installment and reduced gross debt by more than $1 billion. Management also projected approximately $1.5 billion of cash by the end of July while targeting a midpoint of $850 million in 2026 capital expenditures. PBF Energy Announces Second Quarter 2026 Results PBF projects cash and capital expenditures
• Positive Sentiment: Shareholder returns and bullish positioning: PBF declared a quarterly dividend of $0.275 per share, while unusual call-option activity suggests increased speculative interest following the earnings beat.
• Neutral Sentiment: Analyst target raised but rating remains neutral: Citigroup increased its price target from $65 to $74, implying only modest additional upside from the referenced price, while maintaining a “neutral” rating. This may limit incremental buying after the recent rally.
• Neutral Sentiment: Refinery maintenance deferred: PBF delayed planned turnaround work at three refineries, which could support near-term production and earnings but may push necessary maintenance into future periods. PBF Energy delays refinery turnaround work

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 Trading of PBF Energy

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Stifel Financial Corp grew its position in PBF Energy by 12.7% during the 4th quarter. Stifel Financial Corp now owns 12,126 shares of the oil and gas company’s stock worth $329,000 after acquiring an additional 1,364 shares during the last quarter. CIBC Bancorp USA Inc. bought a new stake in shares of PBF Energy in the 3rd quarter worth approximately $270,000. Corient Private Wealth LLC grew its stake in shares of PBF Energy by 14.0% in the second quarter. Corient Private Wealth LLC now owns 12,040 shares of the oil and gas company’s stock worth $261,000 after acquiring an additional 1,480 shares during the last quarter. Inceptionr LLC purchased a new position in PBF Energy in the third quarter worth about $233,000. Finally, Headlands Technologies LLC purchased a new stake in shares of PBF Energy during the fourth quarter valued at approximately $204,000. Hedge funds and other institutional investors own 96.29% of the company’s stock.

PBF Energy Company Profile

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.