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PBF ENERGY INC. - PBF STOCK NEWS

Welcome to our dedicated page for PBF ENERGY news (Ticker: PBF), a resource for investors and traders seeking the latest updates and insights on PBF ENERGY stock.

PBF Energy Inc. (NYSE: PBF) is a leading independent petroleum refiner and supplier of unbranded transportation fuels, heating oil, petrochemical feedstocks, lubricants, and other petroleum products in the United States. Headquartered in Parsippany, New Jersey, PBF Energy owns and operates refineries in Delaware, Ohio, New Jersey, California, and Louisiana, making it one of the largest independent refiners in North America.

The company's operations are divided into two main segments: Refining and Logistics. The Refining segment involves refining crude oil and other feedstocks into valuable petroleum products. The Logistics segment, operated solely by PBFX, manages logistics assets such as crude oil and refined products terminals, pipelines, and storage facilities.

PBF Energy is committed to identifying and executing acquisition opportunities in the petroleum refining industry that deliver superior returns for its investors. Recent financial activities include its indirect subsidiary, PBF Holding Company LLC, pricing $500 million in aggregate principal amount of 7.875% senior notes due 2030. The net proceeds are intended to fund the redemption of its 7.25% Senior Notes due 2025.

Latest Achievements and Updates:

  • Announced third quarter 2023 results with income from operations of $1,077.1 million.
  • Completed pricing of $500 million senior notes due 2030.
  • Reported fourth quarter 2023 loss from operations of $47.2 million, attributing this to market volatility and planned maintenance activities.
  • Declared dividends of $0.25 per share for Class A common stock in November 2023.

PBF Energy is also innovating in the renewable sector. It announced a 50% partnership in the St. Bernard Renewables joint venture, focusing on next-generation sustainable fuels. The company has made significant investments in renewable diesel production, aligning with its mission to operate in an environmentally responsible manner.

Financially, PBF Energy has shown resilience with significant improvements in its balance sheet, reducing and extending the maturities of its debt, and increasing liquidity. As of the end of 2023, the company had approximately $1.9 billion in cash and $1.2 billion in total debt, with a strong commitment to maintaining fiscal discipline and long-term value creation for its shareholders.

Looking forward, PBF Energy continues to prioritize safe, reliable operations and investing in its assets. It plans extensive maintenance and turnarounds, particularly on the West Coast, to ensure operational integrity and supply reliability.

Investor relations remain strong as PBF Energy consistently engages with stakeholders through quarterly earnings releases and webcasts, offering transparency and insights into its financial health and strategic initiatives.

For more updates and detailed financial reports, you can visit the official PBF Energy website.

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PBF Energy Inc. to participate in J.P. Morgan Energy, Power and Renewables Conference
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PBF Energy announces leadership transition with Tom Nimbley transitioning to Executive Chairman of the Board of Directors and Matthew C. Lucey becoming President and CEO
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PBF Energy Inc. (NYSE:PBF) announced it will release its first quarter 2023 earnings results on May 5, 2023. The company will hold a conference call and webcast to discuss the quarterly results and business matters at 8:30 a.m. ET on the same day. Investors can access the call via the PBF Energy website or by calling (877) 869-3847. PBF Energy is one of the largest independent refiners in North America, operating facilities in multiple states, including California and New Jersey.

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Uranium Energy Corp (NYSE American: UEC) has appointed Trecia Canty to its Board of Directors as of March 20, 2023. With over 25 years of experience in finance, corporate governance, and energy, Canty currently serves as Senior Vice President and General Counsel at PBF Energy Inc. Her expertise in strategic transactions and compliance is expected to bolster UEC's growth strategy. CEO Amir Adnani expressed enthusiasm about her contribution. UEC is known for its focus on environmentally friendly uranium mining and is advancing ISR projects in Texas and Wyoming, with a strong portfolio of resources in North America.

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PBF Energy Inc. (NYSE:PBF) will participate in the Annual Piper Sandler Energy Conference on March 20 and 21, 2023. This event will feature members of its management team discussing company insights and strategies. Presentation materials will be accessible through the PBF Energy website in the Investor Relations section. Known as one of the largest independent refiners in North America, PBF Energy operates facilities across multiple states, including California, Delaware, Louisiana, New Jersey, and Ohio, with a commitment to safety and environmental responsibility.

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PBF Energy Inc. (NYSE: PBF) announced the appointment of Georganne Hodges and Damian W. Wilmot as independent directors, effective March 15, 2023. Georganne Hodges brings over 30 years of energy industry experience, having held leadership positions at Motiva Enterprises and other major companies. Damian Wilmot has expertise in compliance and risk management, previously serving at Vertex Pharmaceuticals. Thomas J. Nimbley, Chairman and CEO, expressed confidence in their contributions to the Board. PBF Energy operates several refineries across North America and aims to provide superior returns to investors while maintaining operational integrity.

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FAQ

What is the current stock price of PBF ENERGY (PBF)?

The current stock price of PBF ENERGY (PBF) is $27.16 as of January 3, 2025.

What is the market cap of PBF ENERGY (PBF)?

The market cap of PBF ENERGY (PBF) is approximately 3.1B.

What does PBF Energy Inc. do?

PBF Energy Inc. is an independent petroleum refiner and supplier of unbranded transportation fuels, heating oil, petrochemical feedstocks, lubricants, and other petroleum products in the United States.

Where are PBF Energy's refineries located?

PBF Energy owns and operates refineries in Delaware, Ohio, New Jersey, California, and Louisiana.

What are the main business segments of PBF Energy?

PBF Energy operates in two main segments: Refining and Logistics.

What recent financial activities has PBF Energy undertaken?

Recently, PBF Energy's subsidiary, PBF Holding Company LLC, priced $500 million in senior notes due 2030 to fund the redemption of its 7.25% Senior Notes due 2025.

What were PBF Energy's third quarter 2023 financial results?

PBF Energy reported third quarter 2023 income from operations of $1,077.1 million.

What dividends did PBF Energy declare recently?

In November 2023, PBF Energy declared a quarterly dividend of $0.25 per share of Class A common stock.

What is PBF Energy's involvement in renewable energy?

PBF Energy has a 50% partnership in the St. Bernard Renewables joint venture, focusing on the production of next-generation sustainable fuels.

How is PBF Energy improving its financial condition?

PBF Energy has improved its balance sheet by reducing and extending maturities of its debt, increasing liquidity, and maintaining approximately $1.9 billion in cash at the end of 2023.

What are PBF Energy's plans for future operations?

PBF Energy plans extensive maintenance and turnarounds across its refining system to ensure safe, reliable, and environmentally responsible operations.

How can I access PBF Energy's financial reports and updates?

You can access PBF Energy's financial reports and updates through their official website at http://www.pbfenergy.com.
PBF ENERGY INC.

NYSE:PBF

PBF Rankings

PBF Stock Data

3.11B
83.92M
26.54%
80.06%
9.5%
Oil & Gas Refining & Marketing
Petroleum Refining
Link
United States of America
PARSIPPANY