PBF Energy (NYSE:PBF) Releases Quarterly Earnings Results

PBF Energy (NYSE:PBF) released its quarterly earnings results on Thursday. The oil and gas company reported $0.49 EPS for the quarter, beating the consensus estimate of ($0.15) by $0.64, FiscalAI reports. PBF Energy had a negative net margin of 0.54% and a negative return on equity of 8.94%. The business had revenue of $7.14 billion during the quarter, compared to analyst estimates of $7.17 billion. During the same period in the prior year, the firm posted ($2.82) earnings per share. The company’s quarterly revenue was down 2.9% on a year-over-year basis.

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

• Martinez restart: Construction is finishing this weekend and the refinery will be turned over to operations for a safe, methodical restart, with management expecting the plant to be fully operational in early March, restoring supply to a tight California product market.
• Q4 results: Excluding special items, PBF reported adjusted EPS of $0.49 and adjusted EBITDA of $258M, with sequential improvement driven by widening crude differentials and relatively strong product cracks.
• RBI cost savings: The company achieved $230M of annualized run-rate savings in 2025 and identified another $120M for a total $350M target by year-end, with centralized procurement alone expected to save over $35M and these savings embedded in the 2026 budget.
• Insurance proceeds totaled a $394M gain in Q4 and $894M in 2025 net of deductibles, but payments remain largely unallocated and the timing/amount of any additional business-interruption recoveries and final claim allocation are still uncertain.
• Balance sheet and capital priorities: Q4 ended with $528M cash, ~ $1.6B net debt (28% of capital) and ~$2.3B liquidity; the board approved a $0.275 quarterly dividend and management says debt reduction will be a priority as cash flow strengthens.

PBF Energy Price Performance

Shares of NYSE PBF opened at $34.47 on Friday. PBF Energy has a 52 week low of $13.61 and a 52 week high of $41.47. The business’s 50 day moving average price is $30.76 and its 200 day moving average price is $30.34. The company has a quick ratio of 0.59, a current ratio of 1.38 and a debt-to-equity ratio of 0.45. The firm has a market cap of $3.99 billion, a P/E ratio of -23.45, a P/E/G ratio of 5.95 and a beta of 0.50.

PBF Energy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 11th. Investors of record on Wednesday, February 25th will be given a $0.275 dividend. The ex-dividend date is Wednesday, February 25th. This represents a $1.10 dividend on an annualized basis and a yield of 3.2%. PBF Energy’s dividend payout ratio is currently -23.66%.

Insider Buying and Selling

In other news, insider Control Empresarial De Capital sold 3,000 shares of the company’s stock in a transaction on Thursday, February 12th. The shares were sold at an average price of $36.79, for a total value of $110,370.00. Following the sale, the insider directly owned 28,440,198 shares of the company’s stock, valued at $1,046,314,884.42. This represents a 0.01% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In the last ninety days, insiders have sold 2,385,879 shares of company stock worth $82,719,180. Insiders own 5.30% of the company’s stock.

Hedge Funds Weigh In On PBF Energy

Several large investors have recently made changes to their positions in the company. Invesco Ltd. grew its position in PBF Energy by 147.4% during the third quarter. Invesco Ltd. now owns 2,772,258 shares of the oil and gas company’s stock valued at $83,639,000 after buying an additional 1,651,516 shares during the period. AQR Capital Management LLC boosted its stake in shares of PBF Energy by 230.7% during the 2nd quarter. AQR Capital Management LLC now owns 2,085,060 shares of the oil and gas company’s stock worth $45,183,000 after acquiring an additional 1,454,500 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its position in shares of PBF Energy by 2,198.8% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 1,212,368 shares of the oil and gas company’s stock valued at $36,577,000 after acquiring an additional 1,159,628 shares during the period. BNP Paribas Financial Markets increased its stake in shares of PBF Energy by 276.2% in the 2nd quarter. BNP Paribas Financial Markets now owns 1,028,799 shares of the oil and gas company’s stock valued at $22,294,000 after purchasing an additional 755,310 shares in the last quarter. Finally, Renaissance Technologies LLC acquired a new position in PBF Energy in the 4th quarter worth about $13,452,000. 96.29% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on PBF shares. TD Cowen restated a “sell” rating on shares of PBF Energy in a research note on Friday, October 31st. UBS Group raised their price objective on PBF Energy from $37.00 to $42.00 and gave the stock a “buy” rating in a research report on Monday, November 3rd. Wall Street Zen raised PBF Energy from a “sell” rating to a “hold” rating in a research report on Saturday, November 1st. Wolfe Research downgraded PBF Energy from a “peer perform” rating to an “underperform” rating and set a $23.00 price target for the company. in a report on Monday, December 8th. Finally, Citigroup boosted their price target on PBF Energy from $29.00 to $36.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 14th. Two research analysts have rated the stock with a Buy rating, seven have given a Hold rating and seven have issued a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Reduce” and a consensus target price of $30.21.

Key Headlines Impacting PBF Energy

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

• Positive Sentiment: Q4 earnings beat consensus as refining margins improved; reported EPS of $0.49 versus consensus loss, and operating income turned positive — this drove much of the bullish investor response. PR Newswire: Q4 Results & Dividend
• Positive Sentiment: Company announced a quarterly dividend of $0.275/share (3.3% yield), signaling cash return to shareholders and supporting investor sentiment. PR Newswire: Dividend Announcement
• Positive Sentiment: PBF highlighted operational progress at its Martinez refinery and set a target of $350M in annualized run-rate savings by end-2026, which could materially improve margins over coming quarters if achieved. MSN: Martinez Restart & Savings Target
• Neutral Sentiment: Revenue dipped slightly year-over-year and came marginally under Street expectations, so earnings strength was driven mostly by margins and cost controls rather than top-line growth. Zacks: Earnings Beat on Margins
• Neutral Sentiment: Analyst coverage remains mixed — some price targets were raised while consensus remains below many broker targets; expect continued variability in sentiment until operational improvements are proven. MarketBeat: Analyst Ratings & Targets
• Negative Sentiment: Significant insider selling by controlling shareholder Control Empresarial De Capital (multiple large blocks sold over several days, including a 450,000-share block) creates a notable supply overhang and may pressure the stock if selling continues. SEC Form 4: Insider Sales

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.