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

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

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 Price Performance

NYSE PBF traded up $10.11 during mid-day trading on Thursday, hitting $73.46. The stock had a trading volume of 6,591,328 shares, compared to its average volume of 2,813,214. PBF Energy has a twelve month low of $21.24 and a twelve month high of $74.74. The stock has a market capitalization of $8.69 billion, a price-to-earnings ratio of 19.80, a PEG ratio of 0.10 and a beta of 0.11. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.31 and a quick ratio of 0.62. The firm’s 50 day moving average is $48.57 and its 200 day moving average is $42.71.

PBF Energy Dividend Announcement

The firm 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. The ex-dividend date of this dividend is Friday, August 14th. This represents a $1.10 dividend on an annualized basis and a yield of 1.5%. PBF Energy’s dividend payout ratio is presently 29.65%.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. Citigroup raised their price objective on shares of PBF Energy from $43.00 to $65.00 and gave the company a “neutral” rating in a research report on Friday, July 24th. The Goldman Sachs Group upped their target price on PBF Energy from $51.00 to $71.00 and gave the company a “neutral” rating in a research note 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. Morgan Stanley upped their target price on shares of PBF Energy from $34.00 to $38.00 and gave the stock an “underweight” rating in a research note on Friday, June 12th. Finally, TD Cowen increased their target price on shares of PBF Energy from $39.00 to $68.00 and gave the stock a “hold” rating in a report on Tuesday, July 21st. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, nine have given a Hold rating and four have assigned a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $45.62.

Insider Buying and Selling

In other PBF Energy news, insider Control Empresarial De Capital sold 570,000 shares of the firm’s stock in a transaction on Monday, June 29th. The stock was sold at an average price of $46.36, for a total transaction of $26,425,200.00. Following the completion of the sale, the insider owned 17,142,128 shares of the company’s stock, valued at $794,709,054.08. This trade represents a 3.22% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders sold 3,396,570 shares of company stock valued at $163,978,356 in the last 90 days. Corporate insiders own 5.50% of the company’s stock.

Institutional Trading of PBF Energy

A number of institutional investors have recently bought and sold shares of the business. Royal Bank of Canada boosted its position in shares of PBF Energy by 63.6% in the 1st quarter. Royal Bank of Canada now owns 30,932 shares of the oil and gas company’s stock valued at $590,000 after purchasing an additional 12,025 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of PBF Energy by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 59,723 shares of the oil and gas company’s stock worth $1,140,000 after buying an additional 2,609 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of PBF Energy by 4.9% during the first 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 buying an additional 12,289 shares during the period. Acadian Asset Management LLC increased its position 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 valued at $62,000 after acquiring an additional 2,354 shares during the period. Finally, Arrowstreet Capital Limited Partnership purchased a new stake in PBF Energy during the 2nd quarter valued at approximately $1,143,000. 96.29% of the stock is owned by hedge funds and other institutional investors.

PBF Energy News Summary

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.

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.