Although U.S. stocks closed mixed on Thursday, there were a few notable insider trades. When insiders purchase shares, it indicates their confidence in the company's prospects or that they view the stock as a bargain. Either way, this signals an opportunity to go long on the stock. Insider purchases should not be taken as the only indicator for making an investment or trading decision. At best, it can lend conviction to a buying decision. Below is a look at a few recent notable insider purchases. For more, ...

PARSIPPANY, N.J., Sept. 3, 2024 /PRNewswire/ -- PBF Energy Inc. (NYSE:PBF) announced today that it will release its earnings results for the third quarter 2024 on Thursday, October 31, 2024. The company will host a conference call and webcast regarding results and other business matters on Thursday, October 31, 2024, at 8:30 a.m. ET. The call is being webcast and can be accessed on PBF Energy's website, http://www.pbfenergy.com. The call can also be accessed by dialing (800) 579-2543 or (785) 424-1789, Conf ...

MichaelRLopez If you like to find companies selling well below their accounting cost, depreciated, net hard-asset value (after subtracting all liabilities), PBF Energy, Inc. Class A Common (NYSE:PBF) should be near the top of your research list. [Class A shares represented 99.3% of voting power at the end of December, Class B the remaining 0.7%. Page 8 of the 2023 10-K] The business operates mostly petroleum refineries across the United States, based in New Jersey. And, with a rough 50% haircut in price sin ...

Although U.S. stocks closed lower on Wednesday, there were a few notable insider trades. When insiders purchase shares, it indicates their confidence in the company's prospects or that they view the stock as a bargain. Either way, this signals an opportunity to go long on the stock. Insider purchases should not be taken as the only indicator for making an investment or trading decision. At best, it can lend conviction to a buying decision. Below is a look at a few recent notable insider purchases. For more, ...

Global Research and Evidence Lab 13 August 2024 PBF Energy Inc Adjusting Estimates and Price Target Adjusting estimates We are adjusting our estimates to reflect weaker cracks environment. We lower 2024 to reflect weaker earnings vs. our expectations. West Coast cracks are trending below expectations (despite closure of Rodeo) and this is driving negative revisions. We lower 2024 EPS to $1.06 from $4.04. We lower 2025 EPS to $3.26 from $5.52. Call takeaways ● Turnaround in both East Coast and Mid-Con lasted ...

PBF Energy Inc. (NYSE:PBF) Q2 2024 Earnings Conference Call August 1, 2024 8:30 AM ET Company Participants Colin Murray – Investor Relations Matt Lucey – President and Chief Executive Officer Karen Davis – Chief Financial Officer Paul Davis – Senior Vice President-Supply, Trading and Optimization Michael Bukowski – Senior Vice President and Head-Refining Thomas Nimbley – Executive Chairman Conference Call Participants Roger Read – Wells Fargo Ryan Todd – Piper Sandler Neil Mehta – Goldman Sachs Doug Leggate ...

PBF Energy (PBF) came out with a quarterly loss of $0.56 per share versus the Zacks Consensus Estimate of a loss of $0.25. This compares to earnings of $2.29 per share a year ago. These figures are adjusted for nonrecurring items. This quarterly report represents an earnings surprise of -124%. A quarter ago, it was expected that this refiner would post earnings of $0.62 per share when it actually produced earnings of $0.86, delivering a surprise of 38.71%. Over the last four quarters, the company has surpas ...

Financial Performance - Revenues for Q2 2024 were $8,736.1 million, a decrease of 4.6% compared to $9,157.6 million in Q2 2023[17] - Net loss attributable to PBF Energy Inc. stockholders for Q2 2024 was $(65.2) million, compared to a net income of $1,020.4 million in Q2 2023[17] - Operating expenses for Q2 2024 were $612.6 million, an increase of 2.4% from $597.0 million in Q2 2023[17] - The cost of products and other for Q2 2024 was $7,962.4 million, slightly up from $7,908.0 million in Q2 2023[17] - The company reported a loss from operations of $(74.6) million in Q2 2024, compared to an income of $1,389.2 million in Q2 2023[17] - Basic net income (loss) per share for Q2 2024 was $(0.56), a significant decrease from $8.14 in Q2 2023[17] - Net income for the six months ended June 30, 2024, was $41.5 million, a significant decrease from $1,416.3 million in the same period of 2023[23] - Total revenues for the six months ended June 30, 2024, were $17,381.7 million, down 5.8% from $18,452.6 million in the same period of 2023[71] - The refining segment generated total revenue of $8,726.6 million for the three months ended June 30, 2024, compared to $9,148.4 million in 2023, reflecting a decrease of 4.6%[70] - The logistics segment revenue increased to $98.5 million for the three months ended June 30, 2024, from $94.0 million in 2023, marking a growth of 4.8%[70] Assets and Liabilities - Total liabilities and equity as of June 30, 2024, were $14,076.1 million, down from $14,387.8 million at the end of 2023[16] - Total equity as of June 30, 2024, was $6,406.4 million, down from $6,631.3 million at the end of 2023[16] - Cash and cash equivalents at the end of the period were $1,367.2 million, down from $1,516.9 million at the end of June 2023[25] - Total inventories decreased to $2,864.2 million as of June 30, 2024, compared to $3,183.1 million at the end of 2023, reflecting a reduction of approximately 10%[34] - Accrued expenses totaled $2,821.6 million as of June 30, 2024, down from $3,020.0 million at the end of 2023, indicating a decrease of about 6.6%[36] - Long-term debt increased slightly to $1,251.5 million as of June 30, 2024, compared to $1,245.9 million at the end of 2023[38] - Total assets as of June 30, 2024, are $14,076.1 million, down from $14,387.8 million as of December 31, 2023, representing a decrease of 2.2%[107] Cash Flow and Investments - Cash provided by operating activities for the first half of 2024 was $441.1 million, compared to $505.7 million in the first half of 2023[23] - The company purchased treasury stock amounting to $(102.5) million during the six months ended June 30, 2024[21] - Expenditures for property, plant, and equipment were $(193.1) million for the six months ended June 30, 2024[23] - Capital expenditures for the three months ended June 30, 2024, totaled $333.4 million, with $330.3 million attributed to the Refining segment[107] Dividends and Stock Repurchase - The company declared dividends of $0.25 per common share, totaling $(29.6) million[20] - PBF Energy declared quarterly cash dividends of $0.25 per share of Class A common stock, totaling $58.9 million distributed to its members during the six months ended June 30, 2024[67] - The company repurchased 2,663,591 shares of Class A common stock for $100.0 million during the three months ended June 30, 2023, and 1,952,089 shares for $100.1 million in the same period of 2024[65] Risks and Compliance - The company is facing various risks including geopolitical conflicts, regulatory changes, and market volatility that could impact future performance[9] - The company is exposed to market risks, including changes in commodity prices and interest rates, which significantly affect earnings, cash flow, and liquidity[229] - Compliance with GHG emissions regulations may result in increased operational costs and the need to purchase emission credits[235] - The company anticipates ongoing capital investments to comply with evolving environmental regulations, which may increase operational costs[48] Environmental Liabilities - The estimated environmental liabilities related to the acquisition of the Torrance refinery were $110.6 million as of June 30, 2024, down from $114.9 million as of December 31, 2023[49] - The aggregate environmental liability on the balance sheet was $154.1 million as of June 30, 2024, compared to $157.8 million as of December 31, 2023[50] Commodity and Market Exposure - The company manages commodity price risks through supply and offtake agreements and various commodity derivative instruments[229] - As of June 30, 2024, the company had gross open commodity derivative contracts representing 28.4 million barrels, with an unrealized net loss of $6.9 million[230] - The company had hydrocarbon inventories of 36.2 million barrels at December 31, 2023, indicating a decrease in inventory levels[231] - The company expects annual natural gas consumption to range from 70 million to 90 million MMBTUs, with a $1.00 per MMBTU change impacting costs by approximately $70.0 million to $90.0 million[232]

PBF Energy Announces Second Quarter 2024 Results and Declares Dividend of $0.25 per Share • Second quarter loss from operations of $74.6 million (excluding special items, second quarter loss from operations of $72.5 million) • Announces quarterly dividend of $0.25 per share • Second quarter 2024 share repurchases of approximately 2.0 million shares for approximately $100 million PARSIPPANY, NJ - August 1, 2024 - PBF Energy Inc. (NYSE:PBF) today reported second quarter 2024 loss from operations of $74.6 mill ...

Expected throughput ranges (barrels per day) Third Quarter 2024 Low High East Coast 285,000 305,000 Mid-continent 145,000 155,000 Gulf Coast 165,000 175,000 West Coast 290,000 310,000 Total 885,000 945,000 Second quarter loss from operations of $74.6 million (excluding special items, second quarter loss from operations of $72.5 million) Announces quarterly dividend of $0.25 per share Second quarter 2024 share repurchases of approximately 2.0 million shares for approximately $100 million PARSIPPANY, N.J., Au ...