PBF Energy A

PBF Energy’s stock slipped in the morning after an indirect subsidiary announced a private placement of exchangeable, senior, unsecured notes of $500 million (due 2032) with an upsize option of up to $50 million. Morgan Stanley reiterated an "Underweight" rating with a $76 price target, which added further selling pressure. Despite a marked year-to-date rise in the stock and an increased stake by Engineers Gate Manager, sentiment in the refinery-related sector remained negative amid an overall risk-averse market environment. » Więcej na de.investing.com

As an independent U.S. refiner, PBF Energy operates complex facilities to process primarily low‑cost heavy crudes, generating attractive refining margins. High free cash flows from the fuels business are being used to pay down debt and deliver returns to shareholders. At the same time, the company is building a renewable diesel arm through a joint venture as its contribution to the energy transition. » Więcej na finanzen.net

The stock of PBF Energy rose to an all-time high of $76.03 and is currently trading at $76.14. With a price-to-earnings ratio of 6.27 and a share price increase of 156.29% over the past year, the stock is viewed as possibly undervalued. PBF reported strong Q2 results (adjusted earnings $6.22 per share vs. $3.49 expected, revenue $11.68 billion vs. $9.67 billion), reduced net debt by more than $1.4 billion and received a rating from UBS. » Więcej na de.investing.com