PBF Energy (NYSE:PBF) Issues Quarterly Earnings Results

12 Feb 2026, 21:10 by Kim Johansen · The Markets Daily

PBF Energy (NYSE:PBF – Get Free Report) announced its quarterly earnings results on Thursday. The oil and gas company reported $0.49 earnings per share for the quarter, topping the consensus estimate of ($0.45) by $0.94, FiscalAI reports. The company had revenue of $7.14 billion for the quarter, compared to the consensus estimate of $7.17 billion. PBF Energy had a negative return on equity of 15.88% and a negative net margin of 1.78%.The firm’s revenue for the quarter was down 2.9% compared to the same quarter last year. During the same period last year, the firm earned ($2.82) EPS.

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 traded down $2.28 during midday trading on Thursday, hitting $33.49. The stock had a trading volume of 3,405,359 shares, compared to its average volume of 3,599,440. 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 stock has a 50 day simple moving average of $30.73 and a 200-day simple moving average of $30.25. The company has a market capitalization of $3.88 billion, a PE ratio of -7.13, a P/E/G ratio of 6.09 and a beta of 0.50. PBF Energy has a 1 year low of $13.61 and a 1 year high of $41.47.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on PBF. TD Cowen reiterated a “sell” rating on shares of PBF Energy in a research report on Friday, October 31st. Wolfe Research cut shares of PBF Energy from a “peer perform” rating to an “underperform” rating and set a $23.00 target price for the company. in a research note on Monday, December 8th. BMO Capital Markets reissued a “market perform” rating and set a $34.00 price target on shares of PBF Energy in a report on Monday, January 5th. Zacks Research cut shares of PBF Energy from a “hold” rating to a “strong sell” rating in a report on Tuesday, January 20th. Finally, Piper Sandler set a $41.00 target price on shares of PBF Energy in a research note on Monday, January 12th. Two equities 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. According to MarketBeat.com, PBF Energy presently has an average rating of “Reduce” and a consensus target price of $30.14.

View Our Latest Analysis on PBF Energy

Insider Buying and Selling

In other PBF Energy news, insider Control Empresarial De Capital sold 480,000 shares of PBF Energy stock in a transaction on Wednesday, February 4th. The shares were sold at an average price of $35.07, for a total transaction of $16,833,600.00. Following the sale, the insider owned 29,583,498 shares of the company’s stock, valued at $1,037,493,274.86. The trade was a 1.60% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Over the last three months, insiders sold 1,932,879 shares of company stock valued at $66,687,810. 5.30% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On PBF Energy

Several hedge funds and other institutional investors have recently modified their holdings of the business. Renaissance Technologies LLC purchased a new stake in PBF Energy during the 4th quarter valued at about $13,452,000. Counterpoint Mutual Funds LLC grew its position in shares of PBF Energy by 711.2% in the fourth quarter. Counterpoint Mutual Funds LLC now owns 135,065 shares of the oil and gas company’s stock valued at $3,663,000 after purchasing an additional 118,416 shares in the last quarter. Campbell & CO Investment Adviser LLC acquired a new stake in shares of PBF Energy in the fourth quarter valued at approximately $2,904,000. Towle & Co. lifted its position in PBF Energy by 18.1% during the fourth quarter. Towle & Co. now owns 386,834 shares of the oil and gas company’s stock worth $10,491,000 after buying an additional 59,284 shares in the last quarter. Finally, Swiss National Bank boosted its stake in PBF Energy by 1.8% during the fourth quarter. Swiss National Bank now owns 171,200 shares of the oil and gas company’s stock worth $4,643,000 after buying an additional 3,100 shares during the last quarter. 96.29% of the stock is owned by hedge funds and other institutional investors.

Key PBF Energy News

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

Positive Sentiment: Q4 earnings sharply beat expectations — PBF reported $0.49 EPS vs. consensus around a loss, driven by a rebound in refining margins and improved operating income, prompting early bullish reaction. PBF Energy shares rise over 3% as Q4 earnings beat expectations
Positive Sentiment: PBF declared a quarterly dividend of $0.275 and reported Q4 income from operations improved materially versus a year ago; management said Martinez restart remains on schedule — these support cash return and operational outlook. PBF Energy Reports Fourth Quarter and Full Year 2025 Results, Declares Dividend of $0.275 per Share
Neutral Sentiment: Full earnings release and conference-call details (transcript) provide color on margins, refinery utilization and inventories — useful for assessing sustainability of the Q4 beat but not immediately directional. PBF Energy Inc. (PBF) Q4 2025 Earnings Call Transcript
Neutral Sentiment: Revenue was slightly below estimates and full-year metrics remain negative (net margin and ROE), so today’s beat could be viewed as a one-quarter rebound rather than a structural turnaround. PBF Energy (PBF) Beats Q4 Earnings and Revenue Estimates
Negative Sentiment: Large, ongoing insider selling by controlling shareholder Control Empresarial De Capital — multiple multi-hundred-thousand-share sales in recent days — is weighing on sentiment and likely a primary reason for the stock pullback after the morning pop. Control Empresarial De Capital Sells 1,400 Shares of PBF Energy (NYSE:PBF) Stock
Negative Sentiment: Analyst coverage is mixed and consensus remains cautious (average price target near $30, negative full-year EPS forecast), so upside may be limited absent sustained margin improvement. PBF Energy earnings / analyst commentary

About PBF Energy

(Get Free Report)

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.