PBF Energy Inc.
- Open
- 54.16
- Day high
- 54.82
- Day low
- 51.70
- Prev close
- 53.31
- Volume
- 1.7M
- Mkt cap
- $6.3B
- P/E (TTM)
- 14.1
- EPS (TTM)
- $3.78
- P/B
- 1.1
- P/S
- 0.2
- Yield
- 2.07%
- Per share
- $1.10
- ▼Insiders net selling -$126.1M over the last 3 months (0 open-market buys, 16 sales)
- 🏛Institutions accumulating (13F)
PBF Energy Inc. (PBF) is a Energy company listed on NYSE. The stock is up 91% over the past year. Over the trailing 3 months, insiders filed 0 open-market buys and 16 sales (SEC Form 4). Drillr has 3 published research articles covering PBF.
PBF Energy Inc. (PBF) financials & analyst ratings
Fundamentals (TTM)
Analyst consensus · 5 analysts
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
PBF earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| Apr 30, 2026 | $-0.79 | $-0.88 | -11.4% | $7.9B | +7.9% |
| Feb 12, 2026 | $-0.15 | $0.49 | +426.7% | $7.1B | +19.4% |
| Oct 30, 2025 | $-0.69 | $-0.52 | +24.6% | $7.7B | +5.3% |
| Jul 31, 2025 | $-1.19 | $-1.03 | +13.4% | $7.5B | +2.4% |
| May 1, 2025 | $-3.50 | $-3.09 | +11.7% | $7.1B | -2.5% |
| Feb 13, 2025 | $-1.80 | $-2.82 | -56.7% | $7.4B | -2.3% |
| Oct 31, 2024 | $-1.40 | $-1.50 | -7.1% | $8.4B | +6.1% |
| Aug 1, 2024 | $-0.25 | $-0.56 | -124.0% | $8.7B | +1.1% |
| May 2, 2024 | $0.66 | $0.85 | +28.8% | $8.6B | +22.1% |
| Feb 15, 2024 | $0.08 | $-0.41 | -612.5% | $9.1B | +5.7% |
| Nov 2, 2023 | $4.84 | $6.61 | +36.6% | $10.7B | +4.7% |
| Aug 3, 2023 | $2.22 | $2.29 | +3.2% | $9.2B | +2.5% |
PBF insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| Jul 8, 2026 | Control Empresarial de Capitales S.A. de C.V.10 percent owner, other: Add'l Rep. Persons-see Ex.99-1 | Sell | 150,000 | $49.52 |
| Jul 8, 2026 | Control Empresarial de Capitales S.A. de C.V.10 percent owner, other: Add'l Rep. Persons-see Ex.99-1 | Sell | 50,000 | $48.00 |
| Jul 6, 2026 | Control Empresarial de Capitales S.A. de C.V.10 percent owner, other: Add'l Rep. Persons-see Ex.99-1 | Sell | 200,000 | $46.94 |
| Jul 1, 2026 | Control Empresarial de Capitales S.A. de C.V.10 percent owner, other: Add'l Rep. Persons-see Ex.99-1 | Sell | 200,000 | $47.01 |
| Jul 1, 2026 | Control Empresarial de Capitales S.A. de C.V.10 percent owner, other: Add'l Rep. Persons-see Ex.99-1 | Sell | 280,000 | $46.65 |
| Jul 1, 2026 | Control Empresarial de Capitales S.A. de C.V.10 percent owner, other: Add'l Rep. Persons-see Ex.99-1 | Sell | 370,000 | $46.01 |
| Jun 29, 2026 | Control Empresarial de Capitales S.A. de C.V.10 percent owner, other: Add'l Rep. Persons-see Ex.99-1 | Sell | 205,570 | $42.01 |
| Jun 29, 2026 | Control Empresarial de Capitales S.A. de C.V.10 percent owner, other: Add'l Rep. Persons-see Ex.99-1 | Sell | 200,000 | $42.79 |
| Jun 9, 2026 | Control Empresarial de Capitales S.A. de C.V.10 percent owner, other: Add'l Rep. Persons-see Ex.99-1 | Sell | 100,000 | $43.17 |
| Jun 4, 2026 | Control Empresarial de Capitales S.A. de C.V.10 percent owner, other: Add'l Rep. Persons-see Ex.99-1 | Sell | 31,000 | $43.56 |
| Jun 4, 2026 | Control Empresarial de Capitales S.A. de C.V.10 percent owner, other: Add'l Rep. Persons-see Ex.99-1 | Sell | 220,000 | $43.58 |
| May 6, 2026 | Control Empresarial de Capitales S.A. de C.V.10 percent owner, other: Add'l Rep. Persons-see Ex.99-1 | Sell | 30,000 | $45.51 |
| May 6, 2026 | Control Empresarial de Capitales S.A. de C.V.10 percent owner, other: Add'l Rep. Persons-see Ex.99-1 | Sell | 170,000 | $44.75 |
| May 6, 2026 | Control Empresarial de Capitales S.A. de C.V.10 percent owner, other: Add'l Rep. Persons-see Ex.99-1 | Sell | 220,000 | $45.91 |
| Apr 30, 2026 | DONAHUE PAUL JOSEPHdirector | Grant | 4,231 | — |
Source: PBF SEC Form 4 filings, latest Jul 8, 2026. For informational purposes only — not investment advice.
See the full PBF insider & 13F page →PBF research & analysis
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PBF Energy Inc. company profile
Overview
PBF Energy Inc. (NYSE:PBF) is an independent petroleum refiner founded in 2008 and headquartered in Parsippany, New Jersey. The company went public in December 2012 and has grown to become one of the largest independent refiners in the United States. PBF operates six oil refineries across strategic locations including the Northeast, Midwest, Gulf Coast, and West Coast, with a combined crude oil processing capacity of approximately 1 million barrels per day. The company has expanded beyond traditional refining through its renewable diesel operations and logistics services, positioning itself as a diversified energy company serving North American fuel markets.
Business
PBF Energy operates in the petroleum refining industry, which involves converting crude oil into refined petroleum products that power modern society. The refining process breaks down crude oil through various chemical and physical processes to produce gasoline, diesel fuel, jet fuel, heating oil, lubricants, and other essential products. The company operates through two primary business segments. The Refining segment represents the core business, accounting for the vast majority of revenues. This segment operates six refineries that process crude oil into finished petroleum products including gasoline, ultra-low-sulfur diesel, heating oil, jet fuel, lubricants, petrochemicals, and asphalt. These facilities are strategically located to serve major population centers and transportation hubs across the United States. The Logistics segment provides complementary services including rail, truck, and marine terminal operations, pipeline transportation, and storage services. This segment supports the refining operations and generates additional revenue streams through third-party services. PBF has also entered the renewable fuels market through St. Bernard Renewables, a joint venture with Italian energy company Eni. This facility produces renewable diesel from various feedstocks including used cooking oil and animal fats, representing the company's expansion into lower-carbon fuel alternatives. The renewable diesel operation currently produces approximately 10,000-17,000 barrels per day, though this represents a small portion of overall production compared to traditional refining operations.
Revenue model
PBF Energy generates revenue primarily through product sales in wholesale petroleum markets. The company purchases crude oil as its primary raw material and sells the refined products to distributors, retailers, and other end users. The business model is fundamentally a processing margin or "crack spread" business, where profitability depends on the difference between crude oil input costs and refined product selling prices. The company's customers include petroleum product distributors, gasoline station operators, commercial and industrial users, other refiners, and government entities. Products are sold both on a branded and unbranded basis throughout the Northeast, Midwest, Gulf Coast, and West Coast regions, with some international sales to Canada and Mexico. Several factors significantly impact PBF's margins and profitability. Positive margin drivers include wide crude oil price differentials (particularly between light and heavy crude oils), strong gasoline and diesel demand, limited global refining capacity, advantageous natural gas pricing for hydrogen production, and seasonal demand patterns favoring summer driving and winter heating seasons. The company benefits from its coastal locations which provide access to waterborne crude oil imports and export opportunities for refined products. Negative margin pressures come from narrow crack spreads during weak demand periods, high crude oil prices that compress margins, increased competition from imports, regulatory compliance costs (particularly environmental credits like RINs), planned and unplanned refinery maintenance that reduces utilization rates, and economic slowdowns that reduce fuel demand. The company also faces ongoing regulatory challenges, particularly in California where environmental regulations create additional operational constraints and costs.
Competitive moat
PBF Energy operates in a moderately defensible position within the refining industry, though its moat is not particularly strong. The company's primary competitive advantages stem from its strategic asset locations and operational scale. The six refineries are positioned in major population centers and transportation hubs, providing geographic advantages for both crude oil sourcing and product distribution. The coastal locations offer flexibility to access waterborne crude imports and export refined products when advantageous. The company's scale and operational expertise provide some competitive benefits, including purchasing power for crude oil procurement, operational efficiencies, and the ability to optimize production across multiple facilities. PBF's recent focus on cost reduction through its Refining Business Improvement program targeting $200 million in annual savings demonstrates management's commitment to operational excellence. However, the refining industry faces significant structural challenges that limit moat strength. The business is highly cyclical and commodity-dependent, with margins subject to volatile crude oil and refined product prices. Regulatory pressures, particularly environmental regulations, create ongoing compliance costs and operational constraints. The industry also faces long-term demand headwinds from electric vehicle adoption and renewable energy transitions. Competitive threats include large integrated oil companies with upstream crude production advantages, imports from lower-cost international refiners, and potential future demand destruction from transportation electrification. PBF's independent status, while providing operational flexibility, also means it lacks the upstream integration that helps major oil companies manage commodity price volatility. The company's expansion into renewable diesel represents an attempt to diversify into growing alternative fuel markets, though this segment remains small relative to traditional refining operations.
Risks & safety
PBF Energy currently faces significant financial stress with limited margin of safety, particularly following the Martinez refinery fire incident. • Liquidity and Cash Burn: The company ended Q1 2025 with $469 million in cash but generated negative $661 million in operating cash flow and negative $772 million in free cash flow. Current liquidity stands at approximately $2.4 billion including available credit facilities. • Debt and Solvency: Total debt of approximately $3.2 billion with debt-to-equity ratio of 0.61. Net debt position of around $2.7 billion. The company maintains investment-grade metrics but faces pressure from ongoing losses. • Profitability Metrics: The company reported adjusted EBITDA losses in recent quarters, with Q1 2025 showing negative $259 million adjusted EBITDA. Return on equity of negative 7.9% indicates poor capital efficiency. • Valuation Concerns: Trading at 0.43x book value suggests market pessimism, though negative earnings make traditional valuation metrics less meaningful. The stock has declined significantly from previous highs. • Operational Risks: The Martinez refinery fire represents a major operational setback, with full restart not expected until late 2025. Insurance proceeds provide some offset but create execution risk and cash flow timing issues.
Recent development
Over the past few years, PBF Energy has undergone significant strategic evolution focused on balance sheet strengthening, operational efficiency, and energy transition positioning. The company completed a major financial transformation, reducing debt by over $3 billion since the pandemic and repaying $2.3 billion in debt during 2022 alone. This deleveraging effort restored financial flexibility and enabled the reinstatement of dividend payments and share repurchase programs. The company's most significant strategic move has been its entry into renewable fuels through the St. Bernard Renewables joint venture with Eni. This facility converts the former Chalmette refinery unit to produce renewable diesel from various feedstocks including used cooking oil and animal fats. While production has faced initial operational challenges, the facility represents PBF's commitment to participating in the energy transition and diversifying beyond traditional petroleum refining. PBF has also launched an ambitious Refining Business Improvement program targeting $200 million in annual cost savings by 2025. This initiative focuses on energy efficiency, maintenance optimization, procurement improvements, and organizational restructuring. The program reflects management's recognition that operational excellence is critical for surviving in an increasingly challenging refining environment. The Martinez refinery fire in February 2025 represents a major setback requiring complete facility restart by late 2025. While insurance coverage provides financial protection, the incident highlights operational risks and has significantly impacted near-term cash flow generation. The company has responded by reducing capital expenditures and focusing on liquidity preservation while managing the restart process. Recent quarters have also seen increased focus on asset optimization and capital discipline, including the sale of non-core terminal assets and reduced capital spending. Management has emphasized maintaining financial flexibility while navigating challenging refining market conditions and regulatory pressures, particularly in California where the company operates two refineries.
PBF company profile · for informational purposes only — not investment advice.
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