PBF Energy (NYSE:PBF) Announces Earnings Results

PBF Energy (NYSE:PBF) released its quarterly earnings results on Thursday. The oil and gas company reported ($0.88) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.25) by ($0.63), FiscalAI reports. PBF Energy had a negative return on equity of 8.86% and a negative net margin of 0.54%.The firm had revenue of $7.90 billion for the quarter, compared to analyst estimates of $7.18 billion. During the same period last year, the company earned ($3.53) EPS. The company’s revenue was up 11.9% compared to the same quarter last year.

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

• Martinez restart imminent — PBF says the cat‑feed hydrotreater and alkylation units are already running and the FCC should be making finished products this weekend, restoring full California supply capacity.
• Material market tailwinds — Management cites the Middle East disruption as causing tight global product balances and higher product demand, positioning PBF’s coastal, complex refineries to earn strong margins in coming quarters.
• Weak Q1 operational and financial results — Excluding special items, Q1 adjusted net loss was $0.88/share with adjusted EBITDA $68.7M; the quarter included a >$200M derivative mark‑to‑market loss, a $324M cash use in operations and higher net debt from inventory builds.
• Insurance recoveries and rebuild mostly behind — PBF received a $106.5M payment in Q1, bringing total insurance recoveries to about $1 billion net of deductibles; management says major rebuild spending is largely complete and further interim recoveries are expected.
• RBI savings and capital priorities — The Refining Business Improvement program hit a $230M annualized run‑rate target (≈$160M OpEx) and PBF is on track for $350M by end‑2026; with Martinez capex winding down, the company plans to prioritize de‑levering, reinvestment and shareholder returns when cash generation strengthens.

PBF Energy Stock Up 0.6%

Shares of NYSE PBF traded up $0.26 during trading hours on Thursday, hitting $43.39. The company had a trading volume of 7,259,599 shares, compared to its average volume of 2,885,527. The stock has a market capitalization of $5.07 billion, a P/E ratio of -29.52, a price-to-earnings-growth ratio of 0.18 and a beta of 0.25. The company has a quick ratio of 0.51, a current ratio of 1.21 and a debt-to-equity ratio of 0.40. PBF Energy has a 1-year low of $16.47 and a 1-year high of $52.18. The firm’s 50 day moving average is $42.56 and its 200-day moving average is $35.90.

PBF Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 11th. Stockholders of record on Wednesday, February 25th were issued a $0.275 dividend. This represents a $1.10 annualized dividend and a dividend yield of 2.5%. The ex-dividend date of this dividend was Wednesday, February 25th. PBF Energy’s dividend payout ratio is presently -74.83%.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on PBF. Scotiabank upped their price target on PBF Energy from $28.00 to $34.00 and gave the stock a “sector perform” rating in a research report on Wednesday, April 22nd. TD Cowen reduced their price target on PBF Energy from $41.00 to $36.00 and set a “sell” rating for the company in a research report on Monday. Wall Street Zen downgraded PBF Energy from a “buy” rating to a “hold” rating in a research report on Saturday, April 18th. Morgan Stanley upped their price target on PBF Energy from $27.00 to $34.00 and gave the stock an “underweight” rating in a research report on Friday, April 24th. Finally, Tudor Pickering raised PBF Energy from a “strong sell” rating to a “hold” rating in a research report on Friday, February 13th. Two equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and five have given a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Reduce” and an average price target of $35.38.

PBF Energy News Roundup

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

• Positive Sentiment: PBF reported strong underlying refining results and corporate actions that support cash flow — income from operations excluding special items was $299.6M, the company declared a quarterly dividend of $0.275/sh, received a $106.5M insurance/installment related to the Martinez refinery fire, and said Martinez refinery restart is progressing with full planned rates expected in early May. PBF Energy Announces First Quarter 2026 Results, Declares Dividend…
• Neutral Sentiment: Top‑line performance was better than expected — revenue of $7.90B beat consensus (~$7.18B) and was up ~12% year‑over‑year — showing demand/resiliency in throughput even as earnings were mixed. PBF Energy (PBF) Reports Q1 Loss, Beats Revenue Estimates
• Neutral Sentiment: Shareholders re‑elected the board and approved the company’s pay and incentive plan at the April 28 annual meeting — removes near‑term governance overhang and keeps management strategy intact. PBF Energy Shareholders Back Board, Pay and Incentive Plan
• Negative Sentiment: PBF missed on GAAP EPS (loss of $0.88 vs. consensus loss of ~$0.25), driven in part by a $208.8M mark‑to‑market derivative loss that turned GAAP results negative; net margin and ROE remain negative — a reminder of volatility in reported earnings despite healthy operational cash. Q1 results and conference call
• Negative Sentiment: Insider selling: Control Empresarial De Capital sold a large block (362,000 shares at ~$43.50, ~$15.7M) on April 29 and a smaller block (3,000 shares) on April 30 — large insider disposition can weigh on sentiment even though the remaining stake is large. SEC Form 4 — Insider Sale

Insider Activity

In other news, Director Thomas J. Nimbley sold 50,000 shares of the stock in a transaction that occurred on Tuesday, March 31st. The stock was sold at an average price of $50.62, for a total value of $2,531,000.00. Following the completion of the sale, the director owned 790,716 shares of the company’s stock, valued at approximately $40,026,043.92. This represents a 5.95% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Control Empresarial De Capital sold 3,000 shares of the stock in a transaction that occurred on Thursday, April 30th. The shares were sold at an average price of $44.41, for a total value of $133,230.00. Following the completion of the sale, the insider directly owned 18,888,698 shares of the company’s stock, valued at approximately $838,847,078.18. The trade was a 0.02% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 11,381,825 shares of company stock valued at $501,363,867. 5.50% of the stock is owned by insiders.

Institutional Investors Weigh In On PBF Energy

Several large investors have recently made changes to their positions in PBF. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in PBF Energy by 1.5% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 28,617 shares of the oil and gas company’s stock valued at $863,000 after acquiring an additional 432 shares during the period. Corient Private Wealth LLC raised its stake in PBF Energy by 4.1% in the 4th quarter. Corient Private Wealth LLC now owns 12,309 shares of the oil and gas company’s stock valued at $334,000 after acquiring an additional 483 shares during the period. Venture Visionary Partners LLC raised its stake in PBF Energy by 5.0% in the 4th quarter. Venture Visionary Partners LLC now owns 10,616 shares of the oil and gas company’s stock valued at $288,000 after acquiring an additional 504 shares during the period. Smartleaf Asset Management LLC raised its stake in PBF Energy by 65.3% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,466 shares of the oil and gas company’s stock valued at $38,000 after acquiring an additional 579 shares during the period. Finally, Captrust Financial Advisors raised its stake in PBF Energy by 5.7% in the 4th quarter. Captrust Financial Advisors now owns 11,748 shares of the oil and gas company’s stock valued at $319,000 after acquiring an additional 633 shares during the period. Institutional investors and hedge funds own 96.29% of the company’s stock.

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.