Track market-moving stories before they get noisy

Key Takeaways Top-ranked EL, IMAX, SWK, STRL and PBF show strong potential to deliver earnings beats this season. Positive Earnings ESP, high Zacks Rank and surprise history boost the odds of earnings surprises. Strong earnings beats often fuel stock gains, making these five names worth watching before results.
It is not surprising that before an earnings season, every investor looks for stocks that can beat market expectations. This is because investors always try to position themselves ahead of time and look to tap stocks that are high-quality in nature.

In this regard, we ran a screener that identified stocks such as The Estee Lauder Companies (EL - Free Report) , IMAX (IMAX - Free Report) , Stanley Black & Decker (SWK - Free Report) , Sterling Infrastructure Inc. (STRL - Free Report) and PBF Energy (PBF - Free Report) as likely winners on earnings-beat potential.

Why Is a Positive Earnings Surprise So Important?Historically, stocks of companies with solid quarterly earnings (on a nominal basis) tank if they miss or merely meet market expectations. After all, a 20% earnings rise (though apparently looks good) doesn’t tell you if earnings growth has been exhibiting a decelerating trend.

Also, seasonal fluctuations come into play sometimes. If a company’s first quarter is seasonally weak and its fourth quarter strong, then it is likely to report a sequential earnings decline. In such cases, growth rates are misleading when judging the true health of a company.

On the other hand, after much brainstorming and analysis of companies’ financials and initiatives, Wall Street analysts project companies' earnings. They, in fact, combine their insights and a company’s guidance when deriving an earnings estimate.

Thus, outperforming that estimate is almost equivalent to beating the company’s own expectation as well as the market perception. And if the margin of earnings surprise is big, it typically drives the stock higher right after the release. Thus, more than anything else, an earnings surprise can push a stock higher.

How to Find Stocks That Can Beat?Now, finding stocks that have the potential to beat on the bottom line may be investors’ dream but not an easy job. One way to do this is to look at the earnings surprise history of the company.

An impressive track record in this regard generally acts as a catalyst in sending a stock higher. It indicates the company’s ability to surpass estimates. And investors generally believe that the company will apply the same secret sauce to execute yet another earnings beat in its next release.

The Winning StrategyIn order to shortlist stocks that are likely to come up with an earnings surprise, we chose the following as our primary screening parameters.

Last EPS Surprise greater than or equal to 10%: Stocks delivering positive surprise in the last quarter tend to surprise again.

Average EPS Surprise in the last four quarters greater than 20%: We lifted the bar for outperformance slightly higher by setting the average earnings surprise for the last four quarters at 20%.

Average EPS Surprise in the last two quarters greater than 20%: This points to a more consistent surprise history and makes the case for another surprise even stronger.

In addition, we place a few other criteria that push up the chance of a positive surprise.

Zacks Rank less than or equal to 2: Only companies with a Zacks Rank #1 (Strong Buy) or 2 (Buy) rating can get through.

Earnings ESP greater than zero: A stock needs to have both a positive Earnings ESP and a Zacks Rank of #1, 2 or 3 for an earnings beat to happen, as per our proven model.

In order to zero in on those that have long-term growth potential and high trading liquidity, we have added the following parameters too:

Next 3–5 Years Estimated EPS Growth (Per Year) greater than 10%: Solid expected earnings growth exhibits the stock’s long-term growth prospects.

Average 20-day Volume greater than 100,000: High trading volume implies that the stocks have adequate liquidity.

A handful of criteria have narrowed down the universe from over 7,700 stocks to only 15.

Here are five out of the 15 stocks:

The Estee Lauder Companies: This Zacks Rank #2 company is one of the world's leading manufacturers and marketers of skin care, makeup, fragrance and hair care products. You can see the complete list of today’s Zacks #1 Rank stocks here.

The average earnings surprise for EL in the past four quarters is 41.43%.

IMAX: This Zacks Rank #1 company is a leading global entertainment technology company specializing in motion picture technologies and presentations.

The average earnings surprise for IMAX in the past four quarters is 31.37%.

Stanley Black & Decker: This Zacks Rank #2 company manufactures and provides tools (power and hand tools) and related accessories, engineered fastening systems, and several other items and services.

The average earnings surprise for SWK in the past four quarters is 23.29%.

Sterling Infrastructure Inc.: The company is a diversified U.S. infrastructure services company. The stock has a Zacks Rank #2.

The average earnings surprise of STRL in the past four quarters is 27.21%.

PBF Energy: The company is a leading independent refiner of crude oil. The stock has a Zacks Rank #1.

The average earnings surprise for PBF in the past four quarters is 123.38%.

Quarterly financial reports play a vital role on Wall Street, as they help investors see how a company has performed and what might be coming down the road in the near-term. And out of all of the metrics and results to consider, earnings is one of the most important.

We know earnings results are vital, but how a company performs compared to bottom line expectations can be even more important when it comes to stock prices, especially in the near-term. This means that investors might want to take advantage of these earnings surprises.

The ability to identify stocks that are likely to top quarterly earnings expectations can be profitable, but it's no simple task. Here at Zacks, our Earnings ESP filter helps make things easier.

The Zacks Earnings ESP, ExplainedThe Zacks Expected Surprise Prediction, or ESP, works by locking in on the most up-to-date analyst earnings revisions because they can be more accurate than estimates from weeks or even months before the actual release date. The thinking is pretty straightforward: analysts who provide earnings estimates closer to the report are likely to have more information.

Now that we understand the basic idea, let's look at how the Expected Surprise Prediction works. The ESP is calculated by comparing the Most Accurate Estimate to the Zacks Consensus Estimate, with the percentage difference between the two giving us the Zacks ESP figure.

In fact, when we combined a Zacks Rank #3 (Hold) or better and a positive Earnings ESP, stocks produced a positive surprise 70% of the time. Perhaps most importantly, using these parameters has helped produce 28.3% annual returns on average, according to our 10 year backtest.

Stocks with a ranking of #3 (Hold), or 60% of all stocks covered by the Zacks Rank, are expected to perform in-line with the broader market. Stocks with rankings of #2 (Buy) and #1 (Strong Buy), or the top 15% and top 5% of stocks, respectively, should outperform the market; Strong Buy stocks should outperform more than any other rank.

Should You Consider PBF Energy?The last thing we will do today, now that we have a grasp on the ESP and how powerful of a tool it can be, is to quickly look at a qualifying stock. PBF Energy (PBF - Free Report) holds a #1 (Strong Buy) at the moment and its Most Accurate Estimate comes in at $11.15 a share seven days away from its upcoming earnings release on October 29, 2026.

PBF has an Earnings ESP figure of +0.34%, which, as explained above, is calculated by taking the percentage difference between the $11.15 Most Accurate Estimate and the Zacks Consensus Estimate of $11.12. PBF Energy is one of a large database of stocks with positive ESPs. Make sure to utilize our Earnings ESP Filter to uncover the best stocks to buy or sell before they've reported.

PBF is just one of a large group of Oils and Energy stocks with a positive ESP figure. Plains All American Pipeline (PAA - Free Report) is another qualifying stock you may want to consider.

Plains All American Pipeline, which is readying to report earnings on November 6, 2026, sits at a Zacks Rank #2 (Buy) right now. Its Most Accurate Estimate is currently $0.42 a share, and PAA is 15 days out from its next earnings report.

For Plains All American Pipeline, the percentage difference between its Most Accurate Estimate and its Zacks Consensus Estimate of $0.40 is +5.10%.

Because both stocks hold a positive Earnings ESP, PBF and PAA could potentially post earnings beats in their next reports.

Find Stocks to Buy or Sell Before They're ReportedUse the Zacks Earnings ESP Filter to turn up stocks with the highest probability of positively, or negatively, surprising to buy or sell before they're reported for profitable earnings season trading. Check it out here >>

PBF Energy (PBF) is looking like an interesting pick from a technical perspective, as the company reached a key level of support. Recently, PBF crossed above the 20-day moving average, suggesting a short-term bullish trend.

For new and old investors, taking full advantage of the stock market and investing with confidence are common goals. Zacks Premium provides lots of different ways to do both.

Featuring daily updates of the Zacks Rank and Zacks Industry Rank, full access to the Zacks #1 Rank List, Equity Research reports, and Premium stock screens, the research service can help you become a smarter, more self-assured investor.

Zacks Premium also includes the Zacks Style Scores.

What are the Zacks Style Scores? Developed alongside the Zacks Rank, the Zacks Style Scores are a group of complementary indicators that help investors pick stocks with the best chances of beating the market over the next 30 days.

Each stock is assigned a rating of A, B, C, D, or F based on their value, growth, and momentum characteristics. Just like in school, an A is better than a B, a B is better than a C, and so on -- that means the better the score, the better chance the stock will outperform.

The Style Scores are broken down into four categories:

Value ScoreFinding good stocks at good prices, and discovering which companies are trading under their true value, are what value investors like to focus on. So, the Value Style Score takes into account ratios like P/E, PEG, Price/Sales, Price/Cash Flow, and a host of other multiples to highlight the most attractive and discounted stocks.

Growth ScoreGrowth investors are more concerned with a stock's future prospects, and the overall financial health and strength of a company. Thus, the Growth Style Score analyzes characteristics like projected and historic earnings, sales, and cash flow to find stocks that will see sustainable growth over time.

Momentum ScoreMomentum trading is all about taking advantage of upward or downward trends in a stock's price or earnings outlook, and these investors live by the saying "the trend is your friend." The Momentum Style Score can pinpoint good times to build a position in a stock, using factors like one-week price change and the monthly percentage change in earnings estimates.

VGM ScoreIf you like to use all three kinds of investing, then the VGM Score is for you. It's a combination of all Style Scores, and is an important indicator to use with the Zacks Rank. The VGM Score rates each stock on their shared weighted styles, narrowing down the companies with the most attractive value, best growth forecast, and most promising momentum.

How Style Scores Work with the Zacks Rank A proprietary stock-rating model, the Zacks Rank utilizes the power of earnings estimate revisions, or changes to a company's earnings outlook, to help investors create a successful portfolio.

#1 (Strong Buy) stocks have produced an unmatched +23.82% average annual return since 1988, which is more than double the S&P 500's performance over the same time frame. However, the Zacks Rank examines a ton of stocks, and there can be more than 200 companies with a Strong Buy rank, and another 600 with a #2 (Buy) rank, on any given day.

With more than 800 top-rated stocks to choose from, it can certainly feel overwhelming to pick the ones that are right for you and your investing journey.

That's where the Style Scores come in.

To maximize your returns, you want to buy stocks with the highest probability of success. This means picking stocks with a Zacks Rank #1 or #2 that also have Style Scores of A or B. If you find yourself looking at stocks with a #3 (Hold) rank, make sure they have Scores of A or B as well to ensure as much upside potential as possible.

As mentioned above, the Scores are designed to work with the Zacks Rank, so any change to a company's earnings outlook should be a deciding factor when picking which stocks to buy.

Here's an example: a stock with a #4 (Sell) or #5 (Strong Sell) rating, even one with Style Scores of A and B, still has a downward-trending earnings outlook, and a bigger chance its share price will decrease too.

Thus, the more stocks you own with a #1 or #2 Rank and Scores of A or B, the better.

Stock to Watch: PBF Energy (PBF - Free Report) PBF Energy Inc. is a leading independent refiner of crude oil based in Parsippany, New Jersey. Through six oil refineries and associated infrastructure in the United States, the company produces unbranded transportation fuels, heating oil, petrochemical feedstocks, lubricants and other petroleum products. The refineries can collectively process about 1,000,000 barrels of crude oil per day.

PBF is a #1 (Strong Buy) on the Zacks Rank, with a VGM Score of A.

Momentum investors should take note of this Oils-Energy stock. PBF has a Momentum Style Score of B, and shares are up 12.1% over the past four weeks.

Five analysts revised their earnings estimate higher in the last 60 days for fiscal 2026, while the Zacks Consensus Estimate has increased $8.12 to $24.69 per share. PBF also boasts an average earnings surprise of +123.4%.

With a solid Zacks Rank and top-tier Momentum and VGM Style Scores, PBF should be on investors' short list.

Investors seek growth stocks to capitalize on above-average growth in financials that help these securities grab the market's attention and produce exceptional returns. However, it isn't easy to find a great growth stock.

That's because, these stocks usually carry above-average risk and volatility. In fact, betting on a stock for which the growth story is actually over or nearing its end could lead to significant loss.

However, it's pretty easy to find cutting-edge growth stocks with the help of the Zacks Growth Style Score (part of the Zacks Style Scores system), which looks beyond the traditional growth attributes to analyze a company's real growth prospects.

Our proprietary system currently recommends PBF Energy (PBF - Free Report) as one such stock. This company not only has a favorable Growth Score, but also carries a top Zacks Rank.

Research shows that stocks carrying the best growth features consistently beat the market. And returns are even better for stocks that possess the combination of a Growth Score of A or B and a Zacks Rank #1 (Strong Buy) or 2 (Buy).

While there are numerous reasons why the stock of this refiner is a great growth pick right now, we have highlighted three of the most important factors below:

Earnings GrowthArguably nothing is more important than earnings growth, as surging profit levels is what most investors are after. For growth investors, double-digit earnings growth is highly preferable, as it is often perceived as an indication of strong prospects (and stock price gains) for the company under consideration.

While the historical EPS growth rate for PBF Energy is 1.6%, investors should actually focus on the projected growth. The company's EPS is expected to grow 697.9% this year, crushing the industry average, which calls for EPS growth of 228.3%.

Impressive Asset Utilization RatioAsset utilization ratio -- also known as sales-to-total-assets (S/TA) ratio -- is often overlooked by investors, but it is an important indicator in growth investing. This metric shows how efficiently a firm is utilizing its assets to generate sales.

Right now, PBF Energy has an S/TA ratio of 2.48, which means that the company gets $2.48 in sales for each dollar in assets. Comparing this to the industry average of 1.77, it can be said that the company is more efficient.

In addition to efficiency in generating sales, sales growth plays an important role. And PBF Energy looks attractive from a sales growth perspective as well. The company's sales are expected to grow 33.4% this year versus the industry average of 18.6%.

Promising Earnings Estimate RevisionsBeyond the metrics outlined above, investors should consider the trend in earnings estimate revisions. A positive trend is a plus here. Empirical research shows that there is a strong correlation between trends in earnings estimate revisions and near-term stock price movements.

There have been upward revisions in current-year earnings estimates for PBF Energy. The Zacks Consensus Estimate for the current year has surged 9.2% over the past month.

Bottom LinePBF Energy has not only earned a Growth Score of A based on a number of factors, including the ones discussed above, but it also carries a Zacks Rank #1 because of the positive earnings estimate revisions.

You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.

This combination indicates that PBF Energy is a potential outperformer and a solid choice for growth investors.

Building a successful investment portfolio takes skill and hard work, no matter if you're a growth, value, income, or momentum-focused investor.

How do you find the right combination of stocks that will generate returns that could fund your retirement, or your kids' college tuition, or your short- and long-term savings goals?

Enter the Zacks Rank.

What is the Zacks Rank?The Zacks Rank, which is a unique, proprietary stock-rating model, employs earnings estimate revisions, or changes to a company's earnings expectations, that makes building a winning portfolio easier.

There are four main factors behind the Zacks Rank: Agreement, Magnitude, Upside, and Surprise.

Agreement is the extent to which all brokerage analysts are revising their earnings estimates in the same direction. The greater the percentage of analysts revising their estimates higher, the better chance the stock will outperform.

Magnitude is the size of the recent change in the consensus estimate for the current and next fiscal years.

Upside is the difference between the most accurate estimate, which is calculated by Zacks, and the consensus estimate.

Surprise is made up of a company's last few quarters' earnings per share surprises; companies with a positive earnings surprise are more likely to beat expectations in the future.

These four factors are assigned a raw score that's recalculated every night, which is then compiled into the ranking system. Stocks are classified into five groups using this data, ranging from "Strong Buy" to "Strong Sell."

The Power of Institutional InvestorsThe Zacks Rank also allows individual investors, or retail investors, to benefit from the power of institutional investors.

These professionals manage the trillions of dollars invested in hedge funds, mutual funds, and investment banks, and studies have shown that they can and do move the market because of the large amounts of money they invest with. Thus, the market tends to move in the same direction as institutional investors.

In order to figure out the fair value of a company and its shares, these investors will build valuation models focused on earnings and earnings expectations. Because if you raise estimates for the bottom line, it creates a higher fair value for a company.

Institutional investors will use these changes to help in their decision-making, typically buying stocks with rising estimates and selling those with falling estimates. Higher earnings expectations can translate into a rise in stock price and bigger gains for the investor.

Since it can often take weeks, if not months, for an institutional investor to build a position (given their size), retail investors who get in at the first sign of upward earnings estimate revisions have a distinct advantage over these larger investors, and can benefit from the expected institutional buying that will follow.

Not only can the Zacks Rank help you take advantage of trends in earnings estimate revisions, but it can also provide a way to get into stocks that are highly sought after by professionals.

How to Invest with the Zacks RankThe Zacks Rank is known for transforming investment portfolios. In fact, a portfolio of Zacks Rank #1 (Strong Buy) stocks has beaten the market in 26 of the last 32 years, with an average annual return of +23.82%.

Moreover, stocks with a new #1 (Strong Buy) ranking have some of the biggest profit potential, while those that fell to a #4 (Sell) or #5 (Strong Sell) have some of the worst.

Let's take a look at PBF Energy (PBF - Free Report) , which was added to the Zacks Rank #1 list on July 24, 2026. PBF Energy Inc. is a leading independent refiner of crude oil based in Parsippany, New Jersey. Through six oil refineries and associated infrastructure in the United States, the company produces unbranded transportation fuels, heating oil, petrochemical feedstocks, lubricants and other petroleum products. The refineries can collectively process about 1,000,000 barrels of crude oil per day.

Five analysts revised their earnings estimate upwards in the last 60 days for fiscal 2026. The Zacks Consensus Estimate has increased $8.12 to $24.69 per share. PBF boasts an average earnings surprise of 123.4%.

Earnings are expected to grow 697.8% for the current fiscal year, while revenue is projected to increase 33.4%.

Additionally, PBF has climbed higher over the past four weeks, gaining 17.9%. The S&P 500 is up 1.4% in comparison.

Bottom LineWith a #1 (Strong Buy) ranking, positive trend in earnings estimate revisions, and strong market momentum, PBF Energy should be on investors' shortlist.

If you want even more information on the Zacks Ranks, or one of our many other investing strategies, check out the Zacks Education home page.

Discover Today's Top StocksOur private Zacks #1 Rank List, based on our quantitative Zacks Rank stock-rating system, has more than doubled the S&P 500 since 1988. Applying the Zacks Rank in your own trading can boost your investing returns on your very next trade. See Today's Zacks #1 Rank List >>

Few stocks have had a year like PBF Energy NYSE: PBF.

PBF Energy Today

$89.03 -2.14 (-2.35%)

As of 03:07 PM Eastern

This is a fair market value price provided by Massive. Learn more.

$25.62▼

$92.461.24%

7.88

$65.55

The independent refiner has gone from a money-losing operation in 2025, weighed down by a damaged California plant, to one of the most profitable names in its industry. Its shares have followed, as the stock is up more than 230% this year.

Behind the performance is a rare mix of a Middle East supply shock, a repaired refinery, and a balance sheet that looks nothing like it did a year ago.

Get PBF Energy alerts:

The question for investors is whether the profits are durable or whether the stock has already priced in the best of it.

PBF's Earnings Show a Dramatic TurnaroundThe news around PBF has been heavy. The company signed a new $4 billion asset-based revolving credit facility on Sept. 30, several Wall Street firms have revised their views in recent days, and PBF will report third-quarter results at the end of October.

Combine that with the disruptions that have taken place because of the Middle East tensions, and there is a lot to unpack.

Start with the second-quarter numbers reported July 30. Revenue was $11.68 billion, up from $7.48 billion a year earlier and more than $2 billion above what analysts expected. Net income came in at $906 million, or $7.54 per share, in contrast to a net loss of 5 cents per share a year earlier.

On an adjusted basis, earnings were $6.22 per share, compared with an adjusted loss of $1.03 a year ago, and well above the $4.15 analysts expected.

Refining Margins Drive the Profit SurgeThe engine was the company’s refining margin, which climbed to several times its year-earlier level as crude prices jumped. Management said hostilities in the Middle East trapped crude and refined products and left millions of barrels a day of global refining capacity offline. That shortage is what helped turn PBF's plants into cash machines.

For perspective, 2025 was ugly. PBF posted a full-year loss, and a fire at the company’s Martinez refinery in California was a big reason. PBF also operates facilities on the East Coast, Gulf Coast, and in Ohio, processing about 1 million barrels per day.

The shutdown in northern California and the costs associated, though, had a significant impact on 2025 and first-quarter results. That makes this year's full restart, completed in the first part of 2026, a central part of the comeback story.

Debt Reduction Strengthens PBF's FinancesThe balance sheet might be the most underrated part of the turnaround. Net debt fell more than 62%, or more than $1.4 billion, during the second quarter, and insurers have paid more than $1 billion on the Martinez claim so far.

Looking ahead, management argues global product inventories are depleted and that restocking could keep margins elevated well into 2027. California imports close to one-third of the gasoline it uses, which is a structural opening for a West Coast refiner. A cost-cutting program is also on track to deliver more than $350 million of run-rate savings by the end of 2026.

The valuation looks cheap on paper. The shares trade at a trailing price-earnings ratio of about 8 and an even lower multiple of forward estimates. PBF is not one of the classic dividend stocks, though. Its yield is about 1.2%, and management declined to commit to buybacks or bigger dividends on the earnings call.

Analysts Remain Cautious About the StockWall Street is not nearly as excited as the tape might suggest. The consensus rating is Hold. Of the 15 analysts covering the stock, more than half recommend Hold with four rating shares a Buy and three suggesting Sell.

Price targets span an unusually wide range, from a 12-month price target to $99 to as low as $23 per share, a sign of how hard it is to model a refiner riding a geopolitical shock.

The stock has jumped so quickly based on geopolitical events that the consensus price target of $65.55 sits about 26% below the current price, illustrating where the price might settle if or when oil flow returns to normal levels.

Falling Margins and Insider Sales Pose RisksRefining profits this large are a symptom of disruption, not a new normal. Analysts expect earnings per share to fall by roughly 18% next year, and it’s unclear where margins settle until crude flows return to historical patterns.

A second red flag is who is selling. Insiders sold about $343 million of stock over the past three months, with no purchases listed since the start of the year. CEO Matt Lucey sold shares in August, and 10% owner Control Empresarial de Capitales has kept selling into October.

Investors Should Prepare for More VolatilityEven with expectations of a possible pullback, PBF is a much better company than it was a year ago. The Martinez refinery is running again, the balance sheet has been repaired, and cost savings are coming through.

But the stock already trades above where most analysts think it should, the earnings are tied to a war-driven margin spike, and insiders are cashing out.

Still, unlike growth stocks, refiners do not compound steadily, but surge and then give it back. For investors comfortable with that kind of volatility, building a position gradually after a pullback could be one way to buy into this slice of the energy business.

Should You Invest $1,000 in PBF Energy Right Now?Before you consider PBF Energy, you'll want to hear this.

MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and PBF Energy wasn't on the list.

While PBF Energy currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.

View The Five Stocks Here

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Investors with an interest in Oil and Gas - Refining and Marketing stocks have likely encountered both PBF Energy (PBF - Free Report) and Neste OYJ - Unsponsored ADR (NTOIY - Free Report) . But which of these two stocks presents investors with the better value opportunity right now? Let's take a closer look.

Everyone has their own methods for finding great value opportunities, but our model includes pairing an impressive grade in the Value category of our Style Scores system with a strong Zacks Rank. The Zacks Rank is a proven strategy that targets companies with positive earnings estimate revision trends, while our Style Scores work to grade companies based on specific traits.

Right now, both PBF Energy and Neste OYJ - Unsponsored ADR are sporting a Zacks Rank of #1 (Strong Buy). The Zacks Rank favors stocks that have recently seen positive revisions to their earnings estimates, so investors should rest assured that both of these companies have improving earnings outlooks. But this is just one piece of the puzzle for value investors.

Value investors are also interested in a number of tried-and-true valuation metrics that help show when a company is undervalued at its current share price levels.

Our Value category grades stocks based on a number of key metrics, including the tried-and-true P/E ratio, the P/S ratio, earnings yield, and cash flow per share, as well as a variety of other fundamentals that value investors frequently use.

PBF currently has a forward P/E ratio of 3.41, while NTOIY has a forward P/E of 10.26. We also note that PBF has a PEG ratio of 0.06. This figure is similar to the commonly-used P/E ratio, with the PEG ratio also factoring in a company's expected earnings growth rate. NTOIY currently has a PEG ratio of 0.18.

Another notable valuation metric for PBF is its P/B ratio of 1.53. Investors use the P/B ratio to look at a stock's market value versus its book value, which is defined as total assets minus total liabilities. By comparison, NTOIY has a P/B of 2.81.

Based on these metrics and many more, PBF holds a Value grade of A, while NTOIY has a Value grade of C.

Both PBF and NTOIY are impressive stocks with solid earnings outlooks, but based on these valuation figures, we feel that PBF is the superior value option right now.

President Donald Trump said Friday that Russia has agreed to send millions of tons of diesel to world markets. The announcement came after a phone call with Russian President Vladimir Putin and as U.S. fuel prices sit near record highs weeks before the midterm elections.

In a Truth Social post, Trump said Russia “will immediately supply over 300,000 Tons of Diesel Fuel to the American and Global Marketplace, another 500,000 Tons during the month of November, and 1,000,000 Tons immediately thereafter.” 

He added that Russia would then deliver 3,000,000 more tons “based on the condition of their Diesel Refineries.”

“Between our TOTAL CONTROL of the Strait of Hormuz, and this great announcement on Russian Energy, Diesel Prices for Americans and, indeed, the World, will be COMING DOWN, IN RECORD NUMBERS, AND FAST!” Trump wrote.

• Where are MPC shares going?

Diesel Futures DropHeating oil futures, the benchmark for U.S. diesel, fell 4.33% to $4.67 a gallon Friday afternoon. That’s still more than double the 52-week low of $2.05, but below the high of $5.43, according to Trading Economics.

Read Next

Refiners have made big profits from the diesel shortage, but two Trump posts in two days gave traders reasons to take some of those gains off the table.

On Thursday, Trump said the U.S. “will not be attacking Iran at any time prior to the Midterm Elections to be held in the United States on November 3rd,” Benzinga reported. That lowered the risk of new Middle East supply disruptions.

On Friday came the Russian diesel announcement. Shares of PBF Energy Inc. (NYSE:PBF) dropped 4.6%, Marathon Petroleum Corp. (NYSE:MPC) slid 1.98% and Valero Energy Corp. (NYSE:VLO) lost 1.92%. Valero still trades at $435.27, up from a 52-week low of $155.29, per Benzinga Pro data.

Pump Prices Still HighDiesel averaged $6.28 a gallon nationally Friday, according to AAA, down from a record $6.53 on Sept. 22 but up from $3.68 a year ago. Supply has been squeezed by the U.S.-Iran conflict around the Strait of Hormuz and by Ukrainian drone strikes on Russian refineries. 

The four shipments Trump touted add up to 4.8 million tons. At roughly 7.45 barrels per ton, that is about 36 million barrels. By comparison, the G7 agreed on Oct. 2 to release 100 million barrels of diesel and crude. 

Sanctions ReversalThe Associated Press called the deal a “stunning reversal” of years of U.S. pressure on Moscow. Trump signed a sweeping Russia sanctions law just last month. 

On Friday, the U.S. Treasury issued a temporary license allowing Russian diesel to be traded in the U.S.

The deal’s timing is unclear. On Oct. 1, Putin said Russia would not supply diesel to global markets until sanctions were lifted, Reuters reported. Moscow’s ban on diesel exports by producers also runs through Oct. 31.

Read Next

This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

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PBF Energy Inc. (NYSE:PBF – Get Free Report) hit a new 52-week high on Thursday. The company traded as high as $85.75 and last traded at $83.4930, with a volume of 2282448 shares. The stock had previously closed at $82.88.

Analyst Ratings Changes A number of equities research analysts have recently issued reports on PBF shares. UBS Group reiterated a “buy” rating and set a $99.00 price objective on shares of PBF Energy in a research note on Monday. Mizuho lifted their price objective on shares of PBF Energy from $57.00 to $65.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 4th. Zacks Research raised PBF Energy from a “hold” rating to a “strong-buy” rating in a report on Thursday, July 23rd. BMO Capital Markets restated a “market perform” rating on shares of PBF Energy in a research report on Thursday, October 1st. Finally, Citigroup lifted their price target on shares of PBF Energy from $74.00 to $91.00 and gave the company a “neutral” rating in a report on Tuesday. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, eight have given a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $62.45.

View Our Latest Report on PBF

PBF Energy Stock Up 0.7% The company has a market cap of $9.90 billion, a price-to-earnings ratio of 7.39, a price-to-earnings-growth ratio of 0.06 and a beta of 0.18. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.67 and a current ratio of 1.33. The stock’s fifty day moving average is $73.18 and its two-hundred day moving average is $55.45. PBF Energy (NYSE:PBF – Get Free Report) last released its quarterly earnings results on Thursday, July 30th. The oil and gas company reported $6.22 earnings per share for the quarter, beating analysts’ consensus estimates of $4.15 by $2.07. The company had revenue of $11.68 billion for the quarter, compared to analyst estimates of $9.61 billion. PBF Energy had a net margin of 3.94% and a return on equity of 11.27%. The firm’s revenue was up 56.2% on a year-over-year basis. During the same period last year, the firm earned ($1.03) earnings per share. Sell-side analysts predict that PBF Energy Inc. will post 24.87 earnings per share for the current fiscal year.

PBF Energy Announces Dividend The company also recently declared a quarterly dividend, which was paid on Friday, August 28th. Stockholders of record on Friday, August 14th were issued a $0.2750 dividend. This represents a $1.10 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date of this dividend was Friday, August 14th. PBF Energy’s dividend payout ratio is presently 9.73%.

Insider Buying and Selling In other news, insider Control Empresarial De Capital sold 490,000 shares of the business’s stock in a transaction dated Thursday, July 30th. The stock was sold at an average price of $71.26, for a total transaction of $34,917,400.00. Following the completion of the transaction, the insider owned 14,992,128 shares of the company’s stock, valued at approximately $1,068,339,041.28. The trade was a 3.16% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Matthew Lucey sold 225,473 shares of the firm’s stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $71.92, for a total transaction of $16,216,018.16. Following the sale, the chief executive officer owned 495,771 shares in the company, valued at approximately $35,655,850.32. This trade represents a 31.26% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 4,296,374 shares of company stock worth $309,244,637 over the last ninety days. 5.50% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On PBF Energy A number of hedge funds and other institutional investors have recently made changes to their positions in PBF. Leonteq Securities AG bought a new stake in shares of PBF Energy in the 1st quarter worth approximately $33,000. IFP Advisors Inc boosted its holdings in PBF Energy by 68.7% in the second quarter. IFP Advisors Inc now owns 1,451 shares of the oil and gas company’s stock worth $66,000 after purchasing an additional 591 shares during the last quarter. Strs Ohio bought a new stake in shares of PBF Energy in the first quarter worth $143,000. Nykredit A S bought a new stake in shares of PBF Energy during the 2nd quarter valued at about $149,000. Finally, Parallel Advisors LLC increased its holdings in PBF Energy by 6.8% during the first quarter. Parallel Advisors LLC now owns 3,781 shares of the oil and gas company’s stock valued at $180,000 after buying an additional 242 shares during the last quarter. Institutional investors own 96.29% of the company’s stock.

PBF Energy Company Profile (Get Free Report)

PBF Energy Inc is an independent petroleum refiner and supplier of transportation fuels, petrochemical feedstocks, lubricants, asphalt and other petroleum products. The company sells products under the PBF and Belvieu brands and serves wholesale, commercial and retail customers, as well as other users of refined petroleum products.

PBF Energy owns and operates six refineries in the United States: facilities in California, Delaware, Louisiana, New Jersey and Ohio. Together, these refineries process a range of crude oils and produce gasoline, ultra-low-sulfur diesel, jet fuel, heating oil, petrochemical feedstocks and other refined products.

Further Reading Five stocks we like better than PBF Energy Skydance Just Became a Media Giant—With an $80 Billion Debt Load Could Velo3D Be the Next Defense Buyout Target? Penguin Solutions Is Soaring as AI Memory Demand Explodes Alphabet’s Chart Is Coiling—and the Fundamentals May Be Ready to Back It Up Receive News & Ratings for PBF Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PBF Energy and related companies with MarketBeat.com's FREE daily email newsletter.

On October 05, 2026, PBF Energy Inc PBF shares rose 4.2%, closing at $84.16. The stock has seen significant movement over the past year, trading between a 52-week high of $85.08 and a low of $25.62.

GF Value™ verdict: Current price is $84.16, indicating a 104.6% overvaluation against the GF Value of $41.13.GF Score™ of 48/100 suggests average quality, with mixed financial indicators.Notable signal: Insiders sold $993.7M in stock over the past year, indicating a lack of confidence from company insiders.Is PBF Overvalued or Undervalued?PBF Energy Inc is currently assessed as significantly overvalued based on the GF Value™ estimate. The current market price of $84.16 exceeds the GF Value™ of $41.13, resulting in a substantial margin of safety issue for potential investors. The GF Value™ represents GuruFocus' proprietary intrinsic value estimate, which is derived from a combination of historical trading multiples, past business growth, and future performance projections. With a valuation label indicating significant overvaluation, investors should be cautious as the stock price does not align with its underlying fundamentals.

Being overvalued presents inherent risks, especially in a volatile market where corrections can occur rapidly. Investors might face challenges should the market adjust to reflect more grounded valuations that align with the company's actual performance and growth prospects.

How Does PBF's Valuation Compare to Its History?MetricCurrentHistoricalP/E (TTM)7.4x3.0xForward P/E6.4xN/AThe current P/E (TTM) ratio of 7.4x is significantly higher than its 5-year median P/E of 3.0x, indicating that the stock is trading at a premium compared to its historical valuation. This analysis aligns with the GF Value™ verdict of overvaluation, reinforcing concerns about the sustainability of the stock price at its current levels.

What Does PBF's GF Score™ Tell Us?The GF Score™ measures the overall quality of a stock based on various factors including financial strength, profitability, growth potential, valuation, and momentum. PBF's score of 48/100 indicates average quality, with notable strengths and weaknesses across its sub-ranks.

MetricRatingGF Score™48Financial Strength7/10Profitability7/10Growth1/10Valuation1/10Momentum1/10With a strong financial strength and profitability rank of 7/10, PBF shows resilience in those areas. However, it significantly lags in growth, valuation, and momentum, all rated at 1/10. This disparity suggests that while the company is financially stable, its growth prospects and current valuation metrics are concerning, contributing further to the assessment of overvaluation.

What Are Gurus and Insiders Doing with PBF?Currently, six gurus hold shares of PBF Energy Inc, with two increasing their positions and three reducing them in recent quarters. This mixed activity indicates a cautious approach among knowledgeable investors. Importantly, insiders have sold $993.7M in stock over the past 12 months without any purchasing activity, which often signals a lack of confidence in the company's future prospects from those who have the most insight into its operations.

The selling pressure from insiders is a significant red flag, as it may suggest that those closest to the company believe the stock is overvalued or that they foresee challenges ahead. This insider activity should be a critical consideration for potential investors evaluating the stock's future performance.

What This Means for InvestorsGiven the findings, PBF Energy Inc appears to be significantly overvalued according to the GF Value™ analysis. With substantial insider selling and a concerning growth outlook, potential investors should proceed with caution and consider the risks associated with the current market price. For additional insights, please visit the PBF Energy Inc PBF stock page for a detailed overview of its performance and metrics.

Frequently Asked QuestionsWhat is PBF's GF Score™?

PBF's GF Score™ is 48/100, indicating an average quality stock based on key financial metrics.

Is PBF overvalued or undervalued?

PBF is currently assessed as overvalued, with a GF Value™ of $41.13 compared to a market price of $84.16.

What is PBF's P/E ratio?

PBF's P/E ratio is 7.4x, which is significantly above its 5-year median of 3.0x, reinforcing the assessment of overvaluation.

This stock alert was generated using automated technology and GuruFocus financial data to provide readers with timely and accurate market reporting. This content was reviewed by GuruFocus editorial team prior to publication. Please send any questions or comments about this story to [email protected].

Key Takeaways HPE, NTAP, and PBF are all trading at or near all-time highs thanks to rising earnings estimate revisions. Each is currently a Zacks Rank #1 (Strong Buy).Recent quarterly results from the trio have been strong, reflecting clear business momentum. Stocks making new all-time highs are always worth investors' attention, as the strong price action often reflects rising earnings estimate revisions driven by improving fundamentals.

Recently, several Zacks Rank #1 (Strong Buy) stocks - Hewlett Packard Enterprise (HPE - Free Report) , PBF Energy (PBF - Free Report) , and NetApp (NTAP - Free Report) – are all hitting fresh highs, with each receiving a boost from recent quarterly results.

Image Source: Zacks Investment Research

HPE Breaks RecordsHPE’s latest release was packed with records, with quarterly revenue climbing 34% YoY to $12.2 billion. Earnings of $1.02 similarly grew by an impressive 55% YoY, with both items clearing our consensus expectations nicely. Sales growth has clearly accelerated recently, with sales climbing by double-digit percentages for five consecutive periods.

Image Source: Zacks Investment Research

Growth momentum in the above-mentioned release was driven by its Networking and Cloud & AI businesses. Networking revenue soared 75% YoY, while Cloud & AI revenue climbed 25%, underpinned by 35% growth in Server sales. Record orders and backlog also encouraged HPE to raise its FY26 outlook, further strengthening its current momentum story. EPS revisions remain bullish across the board, with earnings expected to climb nearly 100% in its current FY26 and an additional 20% in FY27.

Image Source: Zacks Investment Research

PBF Benefits From Favorable Operating EnvironmentPBF Energy has benefited heavily from a much more favorable refining environment, with its latest results showing a dramatic turnaround compared to the year-ago period. Adjusted EPS came in at $6.22 compared to a loss last year, crushing the Zacks Consensus Estimate of $4.05. Revenue jumped 56% YoY to $11.7 billion, while its gross refining margin excluding special items climbed to $23.40 per barrel from just $8.38 one year ago.

Image Source: Zacks Investment Research

Higher crack spreads and throughput provided major tailwinds, with the restart of its Martinez refinery also boosting results. Earnings estimates have soared higher across the board given the favorable environment, keeping the momentum picture nicely intact.

Image Source: Zacks Investment Research

NTAP Reports Big GrowthLike those above, NetApp similarly delivered rock-solid results recently, posting quarterly revenue of roughly $2.0 billion, up 30% YoY, while adjusted earnings of $2.09 climbed an even stronger 75% from the same period last year.

Image Source: Zacks Investment Research

Its all-flash array business was a big highlight, with revenue climbing 47% YoY to a record $1.3 billion. Public Cloud revenue also reached a record $206 million, up 28%, while billings surged 36%. NTAP shares initially faced pressure following the release but roared back fiercely, with its earnings outlook remaining bullish across the board.

Image Source: Zacks Investment Research

Bottom Line

Hewlett Packard Enterprise (HPE - Free Report) , PBF Energy (PBF - Free Report) , and NetApp (NTAP - Free Report) all trade at or near all-time highs, with their latest quarterly results revealing strong growth, improving outlooks, and several company-specific catalysts. All three sport a bullish Zacks Rank #1 (Strong Buy), supporting continued near-term share momentum.

Key Takeaways PBF reduced net term debt by more than $1.4B & gross term debt by more than $1B in the second quarter of 2026.PBF's RBI program targets more than $350 million in run-rate cost improvements by year-end 2026.PBF lowered 2026 capital-spending guidance to $825-$875 million after shifting turnarounds to 2027. PBF Energy Inc. (PBF - Free Report) is leveraging strong cash generation to strengthen its balance sheet and enhance financial flexibility. In the second quarter of 2026, the company reduced net term debt by more than $1.4 billion and gross term debt by more than $1 billion. PBF repaid borrowings under its asset-backed lending facility and refinanced roughly $802 million of 2028 senior notes. As of June 30, 2026, PBF held approximately $894 million in cash against $855 million of net debt, while its net debt-to-capital ratio, excluding special items, declined to 15%, reflecting a significantly stronger financial position.

Balance-sheet strengthening remains one of the three core pillars of PBF’s capital allocation strategy, alongside reinvestment in the business and shareholder returns. Management views a stronger balance sheet as a way to reduce financial risk and enhance strategic flexibility across refining cycles. The financial flexibility is important as PBF continues investing in refinery reliability, efficiency and operating performance through its refining business improvement (RBI) initiative.

The RBI program generated more than $230 million in run-rate cost improvements in 2025, with PBF targeting more than $350 million by the end of 2026. Meanwhile, the company lowered its 2026 capital-spending guidance to $825-$875 million after shifting certain turnaround activities into 2027. With leverage declining, liquidity strengthening and efficiency initiatives progressing, PBF is improving its financial foundation while maintaining disciplined capital investment. Lower debt, cost savings, and targeted refinery investments give PBF greater flexibility to fund operational improvements and pursue strategic opportunities over the long term.

PARR & DK Are Strengthening Their Balance SheetsPar Pacific Holdings, Inc. (PARR - Free Report) and Delek US Holdings, Inc. (DK - Free Report) are taking steps to improve their financial flexibility through debt reduction and refinancing.

In the second quarter of 2026, PARR’s gross term debt was reduced by more than $130 million and ABL borrowings by $78 million, bringing total net debt down by more than $220 million. Management moderated share repurchases to prioritize balance-sheet strength. Delek US, meanwhile, refinanced its term loan from $920-$850 million and reduced standalone net debt by $72 million.

For PARR and DK, lower leverage strengthens financial flexibility and supports continued investment in refinery operations, infrastructure and other strategic initiatives.

PBF’s Price Performance, Valuation & EstimatesPBF Energyshares have gained 143.1% over the past year compared with the industry’s 101.9% growth.

Image Source: Zacks Investment Research

From a valuation standpoint, PBF trades at a trailing 12-month enterprise-value-to-EBITDA (EV/EBITDA) of 5.09X. This is below the broader industry average of 5.67X.

Image Source: Zacks Investment Research

The Zacks Consensus Estimate for PBF's 2026 earnings has remained unchanged over the past seven days.

Image Source: Zacks Investment Research

PBF currently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

For new and old investors, taking full advantage of the stock market and investing with confidence are common goals. Zacks Premium provides lots of different ways to do both.

The popular research service can help you become a smarter, more self-assured investor, giving you access to daily updates of the Zacks Rank and Zacks Industry Rank, the Zacks #1 Rank List, Equity Research reports, and Premium stock screens.

It also includes access to the Zacks Style Scores.

What are the Zacks Style Scores? Developed alongside the Zacks Rank, the Zacks Style Scores are a group of complementary indicators that help investors pick stocks with the best chances of beating the market over the next 30 days.

Based on their value, growth, and momentum characteristics, each stock is assigned a rating of A, B, C, D, or F. The better the score, the better chance the stock will outperform; an A is better than a B, a B is better than a C, and so on.

The Style Scores are broken down into four categories:

Value ScoreFinding good stocks at good prices, and discovering which companies are trading under their true value, are what value investors like to focus on. So, the Value Style Score takes into account ratios like P/E, PEG, Price/Sales, Price/Cash Flow, and a host of other multiples to highlight the most attractive and discounted stocks.

Growth ScoreWhile good value is important, growth investors are more focused on a company's financial strength and health, and its future outlook. The Growth Style Score takes projected and historic earnings, sales, and cash flow into account to uncover stocks that will see long-term, sustainable growth.

Momentum ScoreMomentum investors, who live by the saying "the trend is your friend," are most interested in taking advantage of upward or downward trends in a stock's price or earnings outlook. Utilizing one-week price change and the monthly percentage change in earnings estimates, among other factors, the Momentum Style Score can help determine favorable times to buy high-momentum stocks.

VGM ScoreWhat if you like to use all three types of investing? The VGM Score is a combination of all Style Scores, making it one of the most comprehensive indicators to use with the Zacks Rank. It rates each stock on their combined weighted styles, which helps narrow down the companies with the most attractive value, best growth forecast, and most promising momentum.

How Style Scores Work with the Zacks Rank The Zacks Rank, which is a proprietary stock-rating model, employs earnings estimate revisions, or changes to a company's earnings expectations, to make building a winning portfolio easier.

#1 (Strong Buy) stocks have produced an unmatched +23.8% average annual return since 1988, which is more than double the S&P 500's performance over the same time frame. However, the Zacks Rank examines a ton of stocks, and there can be more than 200 companies with a Strong Buy rank, and another 600 with a #2 (Buy) rank, on any given day.

But it can feel overwhelming to pick the right stocks for you and your investing goals with over 800 top-rated stocks to choose from.

That's where the Style Scores come in.

To maximize your returns, you want to buy stocks with the highest probability of success. This means picking stocks with a Zacks Rank #1 or #2 that also have Style Scores of A or B. If you find yourself looking at stocks with a #3 (Hold) rank, make sure they have Scores of A or B as well to ensure as much upside potential as possible.

Since the Scores were created to work together with the Zacks Rank, the direction of a stock's earnings estimate revisions should be a key factor when choosing which stocks to buy.

A stock with a #4 (Sell) or #5 (Strong Sell) rating, for instance, even one with Scores of A and B, will still have a declining earnings forecast, and a greater chance its share price will fall too.

Thus, the more stocks you own with a #1 or #2 Rank and Scores of A or B, the better.

Stock to Watch: PBF Energy (PBF - Free Report) PBF Energy Inc. is a leading independent refiner of crude oil based in Parsippany, New Jersey. Through six oil refineries and associated infrastructure in the United States, the company produces unbranded transportation fuels, heating oil, petrochemical feedstocks, lubricants and other petroleum products. The refineries can collectively process about 1,000,000 barrels of crude oil per day.

PBF is a #1 (Strong Buy) on the Zacks Rank, with a VGM Score of A.

It also boasts a Value Style Score of A thanks to attractive valuation metrics like a forward P/E ratio of 3.29; value investors should take notice.

Five analysts revised their earnings estimate higher in the last 60 days for fiscal 2026, while the Zacks Consensus Estimate has increased $8.58 to $22.61 per share. PBF also boasts an average earnings surprise of +123.4%.

With a solid Zacks Rank and top-tier Value and VGM Style Scores, PBF should be on investors' short list.

Key Takeaways DuPont analysis offers a deeper view of ROE by examining margins, asset efficiency and leverage.CNXN, ECG, GRDN, EXPD and PBF combine favorable DuPont metrics with strong Zacks Ranks.Strong earnings surprises further support the investment case for these five stocks. Return on equity (ROE) is one of the most favored metrics of investors. It is a profitability ratio that measures earnings generated by a company from its equity. Investors can follow the ROE trend in companies and compare this to historical or industry benchmarks to pick a winning stock.

However, stepping beyond the basic ROE and analyzing it at an advanced level could lead to even better returns. Here is where the DuPont analysis comes into play. It is an analytical method that examines three major elements – operating management, management of assets and the capital structure – related to the financial condition of a company. Below we show how DuPont breaks down ROE into its different components:

ROE = Net Income/Equity

Net Income / Equity = (Net Income / Sales) * (Sales / Assets) * (Assets / Equity)

ROE = Profit Margin * Asset Turnover Ratio * Equity Multiplier

The screener yields winning stocks like PC Connection (CNXN - Free Report) , Everus Construction Group Inc. (ECG - Free Report) , Guardian Pharmacy Services Inc. (GRDN - Free Report) , Expeditors International of Washington (EXPD - Free Report) and PBF Energy (PBF - Free Report) .

Why Use DuPont?Although one can’t play down the importance of normal ROE calculation, the fact remains that it doesn’t always provide a complete picture. The DuPont analysis, on the other hand, allows investors to assess the elements that play a dominant role in any change in ROE. It can help investors to segregate companies having higher margins from those having high turnover. For example, high-end fashion brands generally survive on high margins as compared with retail goods, which rely on higher turnover.

In fact, it also sheds light on the company’s leverage status, which can go a long way in selecting stocks poised for gains. A lofty ROE could be due to the overuse of debt. Thus, the strength of a company can be misleading if it has a high debt load.

So, an investor confined solely to an ROE perspective may be confused if he or she has to judge between two stocks of equal ratio. This is where DuPont analysis wins over and spots the better stock.

Investors can simply do this analysis by taking a look at the company’s financials.However, looking at the financial statements of each company separately can be a tedious task. Screening tools like Zacks Research Wizard can come to your rescue and help you shortlist the stocks that look impressive with a DuPont analysis.

Screening Parameters• Profit Margin more than or equal to 3: As the name suggests, it is a measure of how profitably the business is running. Generally, it is the key contributor to ROE.

• Asset Turnover Ratio more than or equal to 2: It allows an investor to assess management’s efficiency in using assets to drive sales.

• Equity Multiplier between 1 and 3: It’s an indication of how much debt the company uses to finance its assets.

• Zacks Rank less than or equal to 2: Stocks having a Zacks Rank #1 (Strong Buy) or 2 (Buy) generally perform better than their peers in all types of market environments.

• Current Price more than $5: This screens out the low-priced stocks. However, when looking for lower-priced stocks, this criterion can be removed.

Here are five out of 10 stocks that made it through the screen:

PC Connection: The Zacks Rank #1 company is a direct marketer of brand-name personal computers and related peripherals, software, and networking products to business, education, government, and consumer end users located primarily in the United States. You can see the complete list of today’s Zacks #1 Rank stocks here.

The average earnings surprise of CNXN for the past four quarters is 13.00%.

Everus Construction Group: The Zacks Rank #1 company is providing a full spectrum of construction services through its electrical and mechanical, and transmission and distribution specialty contracting services principally in the United States.

The average earnings surprise of ECG for the past four quarters is 57.03%.

Guardian Pharmacy Services: The Zacks Rank #2 company is a long-term care pharmacy services company which provides an extensive suite of technology-enabled services designed to help residents of long-term healthcare facilities.

The average earnings surprise of GRDN for the past four quarters is 18.40%.

Expeditors International of Washington: The Zacks Rank #1 company is a leading third-party logistics or 3PL provider.

The average earnings surprise of EXPD for the past four quarters is 17.15%.

PBF Energy: The Zacks Rank #1 company is a leading independent refiner of crude oil based in Parsippany, NJ.

The average earnings surprise of PBF for the past four quarters is 123.38%.

Key Takeaways PBF Energy operates six U.S. refineries with a combined throughput capacity of one million barrels per day.PBF's diversified footprint provides exposure to refining markets across multiple U.S. regions.PBF is using its RBI initiative to improve energy efficiency, turnaround performance and operating costs. PBF Energy (PBF - Free Report) is a well-known U.S. refiner that operates a diverse, highly complex refining network with large-scale processing capacity. It operates six refineries — Delaware City Refinery, Paulsboro Refinery, Toledo Refinery, Chalmette Refinery, Torrance Refinery and Martinez Refinery — with a combined throughput capacity of one million barrels per day and the ability to process a wide range of feedstocks.

PBF sells its refined products across the Northeast, Midwest, Gulf Coast and West Coast in the United States, alongside other markets like Canada and Mexico. Its diversified geographic footprint gives PBF exposure to several regional refining markets instead of relying on a single region.

In addition to refining profits, PBF is improving its cost efficiency through its refining business improvement (RBI) initiative. RBI is a multi-year initiative to improve refinery performance through targeted work at individual facilities, followed by the establishment of new practices to sustain these improvements over the longer term. Under this initiative, the company has implemented a circuit-wide energy efficiency program that has reduced its purchased natural gas consumption compared with 2024. This can help PBF reduce its operating costs. The company has also seen improvements in its turnaround performance.

PBF’s large and geographically diversified refining network, combined with efforts to improve energy efficiency and reduce costs, positions the company to improve its profitability in the long run.

Refining Players That Can Benefit From the Current Market EnvironmentPar Pacific Holdings (PARR - Free Report) operates an integrated downstream network spanning refining, logistics, retail and renewable fuels. The integrated platform works from sourcing crude to converting it into refined fuels and distributing the products through its retail and logistics channels. PARR has a combined refining capacity of 219,000 barrels per day across Hawaii, Montana, Washington and Wyoming. This integrated setup provides PARR with the operational flexibility to capitalize on favorable refining market conditions.

Valero Energy (VLO - Free Report) is among the largest independent refiners in the United States, with a combined high-complexity throughput capacity of nearly 3 million barrels per day across its refineries. VLO's refining footprint is heavily concentrated along the U.S. Gulf Coast and the Midcontinent, offering feedstock sourcing flexibility. VLO's Gulf Coast access enables it to sell its refined products in high-demand markets and benefit from elevated refining margins and strong international demand for refined products.

PBF’s Price Performance, Valuation & EstimatesPBF Energy's shares have jumped 119.8% over the past year compared with the 104.5% improvement of the composite stocks belonging to the industry.

Image Source: Zacks Investment Research

From a valuation standpoint, PBF trades at a trailing 12-month enterprise value to EBITDA (EV/EBITDA) of 4.88X. This is below the broader industry average of 5.68X.

Image Source: Zacks Investment Research

The Zacks Consensus Estimate for PBF’s 2026 earnings has not seen any revisions over the past seven days.

Image Source: Zacks Investment Research

PBF stock currently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

Investors interested in Oil and Gas - Refining and Marketing stocks are likely familiar with PBF Energy (PBF) and Neste OYJ - Unsponsored ADR (NTOIY). But which of these two companies is the best option for those looking for undervalued stocks?

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PBF Energy Inc. (NYSE:PBF – Get Free Report) insider Control Empresarial De Capital sold 150,000 shares of PBF Energy stock in a transaction dated Friday, September 11th. The shares were sold at an average price of $80.60, for a total transaction of $12,090,000.00. Following the sale, the insider owned 13,716,127 shares of the company’s stock, valued at $1,105,519,836.20. The trade was a 1.08% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Control Empresarial De Capital also recently made the following trade(s):

On Thursday, September 10th, Control Empresarial De Capital sold 315,776 shares of PBF Energy stock. The stock was sold at an average price of $77.78, for a total transaction of $24,561,057.28. On Wednesday, September 9th, Control Empresarial De Capital sold 3,494 shares of PBF Energy stock. The stock was sold at an average price of $77.23, for a total transaction of $269,841.62. On Wednesday, September 2nd, Control Empresarial De Capital sold 100,000 shares of PBF Energy stock. The stock was sold at an average price of $77.02, for a total transaction of $7,702,000.00. On Monday, August 17th, Control Empresarial De Capital sold 120,000 shares of PBF Energy stock. The shares were sold at an average price of $74.79, for a total transaction of $8,974,800.00. On Friday, August 14th, Control Empresarial De Capital sold 6,356 shares of PBF Energy stock. The shares were sold at an average price of $74.28, for a total value of $472,123.68. On Thursday, August 13th, Control Empresarial De Capital sold 210,000 shares of PBF Energy stock. The stock was sold at an average price of $72.18, for a total value of $15,157,800.00. On Wednesday, August 12th, Control Empresarial De Capital sold 150,000 shares of PBF Energy stock. The stock was sold at an average price of $70.13, for a total value of $10,519,500.00. On Tuesday, August 11th, Control Empresarial De Capital sold 220,375 shares of PBF Energy stock. The stock was sold at an average price of $68.68, for a total value of $15,135,355.00. On Thursday, July 30th, Control Empresarial De Capital sold 490,000 shares of PBF Energy stock. The shares were sold at an average price of $71.26, for a total value of $34,917,400.00. On Monday, July 20th, Control Empresarial De Capital sold 220,000 shares of PBF Energy stock. The stock was sold at an average price of $63.96, for a total value of $14,071,200.00. PBF Energy Price Performance Shares of PBF stock opened at $75.98 on Thursday. PBF Energy Inc. has a twelve month low of $25.62 and a twelve month high of $82.61. The company has a current ratio of 1.33, a quick ratio of 0.67 and a debt-to-equity ratio of 0.27. The stock has a fifty day simple moving average of $68.33 and a two-hundred day simple moving average of $51.81. The stock has a market capitalization of $9.01 billion, a price-to-earnings ratio of 6.72, a P/E/G ratio of 0.06 and a beta of 0.09.

PBF Energy (NYSE:PBF – Get Free Report) last announced its quarterly earnings results on Thursday, July 30th. The oil and gas company reported $6.22 EPS for the quarter, beating the consensus estimate of $4.15 by $2.07. The firm had revenue of $11.68 billion for the quarter, compared to analyst estimates of $9.61 billion. PBF Energy had a return on equity of 11.27% and a net margin of 3.94%.The business’s revenue for the quarter was up 56.2% on a year-over-year basis. During the same quarter last year, the firm posted ($1.03) earnings per share. On average, analysts predict that PBF Energy Inc. will post 21.64 EPS for the current fiscal year. PBF Energy Dividend Announcement The firm also recently announced a quarterly dividend, which was paid on Friday, August 28th. Shareholders of record on Friday, August 14th were given a dividend of $0.275 per share. The ex-dividend date of this dividend was Friday, August 14th. This represents a $1.10 dividend on an annualized basis and a yield of 1.4%. PBF Energy’s dividend payout ratio (DPR) is 9.73%.

Hedge Funds Weigh In On PBF Energy Hedge funds have recently modified their holdings of the stock. Sequoia Financial Advisors LLC boosted its stake in PBF Energy by 128.0% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 10,631 shares of the oil and gas company’s stock worth $484,000 after purchasing an additional 5,969 shares in the last quarter. Engineers Gate Manager LP increased its stake in PBF Energy by 90.4% during the 2nd quarter. Engineers Gate Manager LP now owns 63,433 shares of the oil and gas company’s stock valued at $2,887,000 after purchasing an additional 30,117 shares in the last quarter. Integrated Wealth Concepts LLC raised its holdings in shares of PBF Energy by 76.0% in the second quarter. Integrated Wealth Concepts LLC now owns 8,632 shares of the oil and gas company’s stock worth $393,000 after buying an additional 3,728 shares during the last quarter. IFP Advisors Inc raised its holdings in shares of PBF Energy by 68.7% in the second quarter. IFP Advisors Inc now owns 1,451 shares of the oil and gas company’s stock worth $66,000 after buying an additional 591 shares during the last quarter. Finally, Allworth Financial LP lifted its stake in shares of PBF Energy by 166.2% during the second quarter. Allworth Financial LP now owns 6,888 shares of the oil and gas company’s stock worth $314,000 after buying an additional 4,300 shares during the period. Institutional investors and hedge funds own 96.29% of the company’s stock.

Analyst Ratings Changes Several equities research analysts have recently weighed in on the stock. Wall Street Zen raised shares of PBF Energy from a “buy” rating to a “strong-buy” rating in a research report on Saturday, August 1st. Morgan Stanley lifted their price objective on shares of PBF Energy from $38.00 to $76.00 and gave the company an “underweight” rating in a report on Monday. Citigroup boosted their price objective on shares of PBF Energy from $65.00 to $74.00 and gave the stock a “neutral” rating in a research note on Friday, July 31st. Freedom Capital lowered PBF Energy from a “hold” rating to a “strong sell” rating in a report on Friday, July 31st. Finally, UBS Group increased their target price on PBF Energy from $62.00 to $84.00 and gave the company a “buy” rating in a research report on Tuesday, August 4th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, eight have issued a Hold rating and four have issued a Sell rating to the company. Based on data from MarketBeat.com, PBF Energy has a consensus rating of “Hold” and a consensus target price of $59.55.

Check Out Our Latest Stock Analysis on PBF

PBF Energy Company Profile (Get Free Report)

PBF Energy Inc is an independent petroleum refiner and supplier of transportation fuels, heating oil, petrochemical feedstocks, lubricants, asphalt and other petroleum products. Through its refining operations, the company processes crude oil and other feedstocks into products used by commercial, industrial and consumer customers.

The company operates refineries in several regions of the United States, including the East Coast, Gulf Coast, Midwest and West Coast. Its refinery portfolio includes facilities in Delaware City, Delaware; Paulsboro, New Jersey; Toledo, Ohio; Chalmette, Louisiana; and Torrance, California.

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, /PRNewswire/ -- PBF Energy Inc. (NYSE:PBF) ("PBF Energy") today announced that its indirect subsidiary, PBF Holding Company LLC ("PBF Holding"), priced $500 million in aggregate principal amount of 0% exchangeable notes due 2032 (the "Notes") in a private offering exempt from registration under the Securities Act of 1933, as amended (the "Securities Act"). The offering is expected to close on September 17, 2026, subject to customary closing conditions. The Notes will be co-issued by PBF Finance Corporation, a wholly owned subsidiary of PBF Holding (together with PBF Holding, the "Issuers"). The Issuers also granted the initial purchasers of the Notes an option to purchase, for settlement within a period of 13 days from, and including, the date the Notes are first issued, up to an additional $50 million aggregate principal amount of Notes.

The Notes will be senior, unsecured obligations of the Issuers. The Notes will not bear regular interest and the principal amount of the Notes will not accrete. The Notes will be fully and unconditionally guaranteed, on a senior unsecured basis, by certain of PBF Holding's subsidiaries (the "Guarantors") that guarantee PBF Holding's existing senior unsecured notes, and will not be guaranteed by PBF Energy Inc. The Notes will mature on January 15, 2032, unless earlier repurchased, exchanged or redeemed. Noteholders will have the right to exchange their Notes in certain circumstances and during specified periods. Exchanges will be settled in cash up to the aggregate principal amount of the Notes to be exchanged and, if applicable, cash, Class A common stock, par value $0.001 per share ("Common Stock") of PBF Energy or a combination thereof, at the Issuers' election, in respect of the remainder (if any) of the Issuers' exchange obligations in excess of the aggregate principal amount of the Notes being exchanged.

The Issuers may not redeem the Notes prior to January 20, 2030, except in the event of a cleanup redemption (as defined below). The Notes will be redeemable, in whole or in part (subject to certain limitations), for cash at the Issuers' option at any time, and from time to time, on or after January 20, 2030 and prior to the 31st scheduled trading day immediately preceding the maturity date of the Notes, but only if the last reported sale price per share of Common Stock has been at least 130% of the exchange price of the Notes for a specified period of time and certain other conditions are satisfied. The redemption price will be equal to the principal amount of the Notes to be redeemed, plus accrued and unpaid special interest, if any, to, but excluding, the redemption date. The Issuers may also redeem for cash all, but not less than all, of the Notes at any time prior to the 31st scheduled trading day immediately preceding the maturity date, if the principal amount of Notes outstanding at such time is less than 10% of the aggregate principal amount of the Notes initially issued under the indenture (including any additional Notes issued pursuant to the initial purchasers' option) (a "cleanup redemption"). 

If a "fundamental change" (as defined in the indenture for the Notes) occurs, then, subject to limited exceptions, noteholders may require the Issuers to repurchase their Notes for cash. The repurchase price will be equal to the principal amount of the Notes to be repurchased, plus accrued and unpaid special interest, if any, to, but excluding, the applicable repurchase date.

The initial exchange rate is 10.3306 shares of Common Stock per $1,000 principal amount of Notes, which represents an initial exchange price of approximately $96.80 per share of Common Stock. The initial exchange price represents a premium of approximately 37.5% above the last reported sale price per share of Common Stock on the New York Stock Exchange on September 14, 2026, which was $70.40 per share. The exchange rate and exchange price will be subject to adjustment upon the occurrence of certain events.

The holders of the Notes will be entitled to the benefits of a registration rights agreement pursuant to which the Issuers and PBF Energy have agreed to register the resale of the shares of Common Stock, if any, deliverable upon exchange of the Notes under the Securities Act. The registration rights agreement contains significant limitations, and a resale registration statement may not be available at the time investors wish to resell the shares of PBF Energy's Common Stock, if any, deliverable upon exchange of their Notes. 

In connection with the pricing of the Notes, the Issuers and PBF Energy have entered into privately negotiated capped call transactions with one or more of the initial purchasers of the Notes or their respective affiliates or certain other financial institutions (the "option counterparties"). The capped call transactions cover, subject to anti-dilution adjustments substantially similar to those applicable to the Notes, the number of shares of Common Stock initially underlying the Notes. The capped call transactions are expected generally to reduce the potential dilution to PBF Energy's Common Stock upon any exchange of Notes and/or offset any cash payments the Issuers are required to make in excess of the principal amount of exchanged Notes, as the case may be, with such reduction and/or offset subject to a cap.

The cap price of the capped call transactions will initially be $123.20 per share, which represents a premium of 75.0% over the last reported sale price of PBF Energy's Common Stock of $70.40 per share on September 14, 2026, and is subject to certain adjustments under the terms of the capped call transactions.

The Issuers have been advised that, in connection with establishing their initial hedges of the capped call transactions, the option counterparties or their respective affiliates expect to enter into various derivative transactions with respect to PBF Energy's Common Stock and/or purchase shares of PBF Energy's Common Stock or other securities of PBF Energy in secondary market transactions concurrently with, or shortly after, the pricing of the Notes, including with, or from, as the case may be, certain investors in the Notes. This activity could increase (or reduce the size of any decrease in) the market price of PBF Energy's Common Stock or the Notes at that time. In addition, the Issuers and PBF Energy expect that the option counterparties or their respective affiliates may modify their hedge positions by entering into or unwinding various derivatives with respect to PBF Energy's Common Stock and/or purchasing or selling PBF Energy's Common Stock or other securities of PBF Energy or the Issuers in secondary market transactions following the pricing of the Notes and prior to the maturity of the Notes (and are likely to do so (x) during any observation period related to an exchange of Notes, following any redemption of Notes by the Issuers or following any repurchase of Notes by the Issuers in connection with any fundamental change and (y) following any repurchase of the Notes by the Issuers other than in connection with any such redemption or any fundamental change if the Issuers elect to unwind a corresponding portion of the capped call transactions in connection with such repurchase). This activity could also cause or avoid an increase or a decrease in the market price of PBF Energy's Common Stock or the Notes, which could affect the ability of holders to exchange the Notes, and, to the extent the activity occurs during any observation period related to an exchange of Notes, it could affect the number of shares of PBF Energy's Common Stock, if any, and value of the consideration that holders will receive upon exchange of the Notes.

The Issuers estimate that the net proceeds from the offering will be approximately $485.0 million (or approximately $533.6 million if the initial purchasers fully exercise their option to purchase additional Notes), after deducting the initial purchasers' discounts and commissions and the Issuers' estimated offering expenses. The Issuers intend to use $25.2 million of the net proceeds from the offering to pay the cost of the capped call transactions, and the remainder, together with available cash, to fund the repayment or redemption, as applicable, of all of its outstanding 7.875% Senior Unsecured Notes due 2030 (the "2030 Notes").  If the initial purchasers exercise their option to purchase additional Notes, the Issuers expect to use a portion of the proceeds from the sale of the additional Notes to enter into additional capped call transactions with the option counterparties, and for general corporate purposes. Pending such use, the Issuers may repay other debt and/or invest the net proceeds in short-term, interest-bearing deposit accounts. 

The offer and sale of the Notes, the related guarantees and any shares of PBF Energy's Common Stock deliverable upon exchange of the Notes have not been registered under the Securities Act or any other securities laws, and the Notes, such guarantees and any such shares cannot be offered or sold except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and any other applicable securities laws. The Notes and the related guarantees will only be offered and sold to persons who are reasonably believed to be "qualified institutional buyers" (as defined in Rule 144A under the Securities Act). This press release does not constitute a notice of repayment or notice of redemption of the 2030 Notes.

This press release does not constitute an offer to sell, or the solicitation of an offer to buy, the Notes, the guarantees or any shares of PBF Energy's Common Stock deliverable upon exchange of the Notes, nor will there be any sale of the Notes or the guarantees or any such shares of PBF Energy's Common Stock, in any state or other jurisdiction in which such offer, sale or solicitation would be unlawful. This press release is being issued pursuant to Rule 135c under the Securities Act.

Forward-Looking Statements

Statements in this press release relating to future plans, results, performance, expectations, achievements and the like are considered "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements include, without limitation, the statements regarding the closing of the Notes offering and the capped call transactions, the expected use of proceeds, including the proposed redemption or repayment of the 2030 Notes and expectations regarding the actions of the option counterparties and their respective affiliates. These forward-looking statements involve known and unknown risks, uncertainties and other factors, many of which may be beyond PBF Energy's and the Issuers' control, that may cause actual results to differ materially from any future results, performance or achievements expressed or implied by the forward-looking statements. Factors and uncertainties that may cause actual results to differ include but are not limited to the risks disclosed in the filings of PBF Energy and PBF Holding with the Securities and Exchange Commission. All forward-looking statements speak only as of the date hereof. Neither PBF Energy nor PBF Holding undertakes an obligation to revise or update any forward-looking statements except as may be required by applicable securities laws.

About PBF Energy Inc.

PBF Energy Inc. (NYSE:PBF) is one of the largest independent refiners in North America, operating, through its subsidiaries, oil refineries and related facilities in California, Delaware, Louisiana, New Jersey and Ohio. Our mission is to operate our facilities in a safe, reliable and environmentally responsible manner, provide employees with a safe and rewarding workplace, become a positive influence in the communities where we do business, and provide superior returns to our investors.

PBF Energy is also a 50% partner in the St. Bernard Renewables joint venture focused on the production of next generation sustainable fuels.

Contacts:

Colin Murray (investors)
[email protected]
Tel: 973.455.7578

Michael C. Karlovich (media)
[email protected]
Tel: 973.455.8994

SOURCE PBF Energy Inc.

Growth investors focus on stocks that are seeing above-average financial growth, as this feature helps these securities garner the market's attention and deliver solid returns. But finding a great growth stock is not easy at all.

In addition to volatility, these stocks carry above-average risk by their very nature. Also, one could end up losing from a stock whose growth story is actually over or nearing its end.

However, it's pretty easy to find cutting-edge growth stocks with the help of the Zacks Growth Style Score (part of the Zacks Style Scores system), which looks beyond the traditional growth attributes to analyze a company's real growth prospects.

PBF Energy (PBF - Free Report) is on the list of such stocks currently recommended by our proprietary system. In addition to a favorable Growth Score, it carries a top Zacks Rank.

Research shows that stocks carrying the best growth features consistently beat the market. And for stocks that have a combination of a Growth Score of A or B and a Zacks Rank #1 (Strong Buy) or 2 (Buy), returns are even better.

Here are three of the most important factors that make the stock of this refiner a great growth pick right now.

Earnings GrowthEarnings growth is arguably the most important factor, as stocks exhibiting exceptionally surging profit levels tend to attract the attention of most investors. And for growth investors, double-digit earnings growth is definitely preferable, and often an indication of strong prospects (and stock price gains) for the company under consideration.

While the historical EPS growth rate for PBF Energy is 1.6%, investors should actually focus on the projected growth. The company's EPS is expected to grow 533.2% this year, crushing the industry average, which calls for EPS growth of 164.8%.

Impressive Asset Utilization RatioAsset utilization ratio -- also known as sales-to-total-assets (S/TA) ratio -- is often overlooked by investors, but it is an important indicator in growth investing. This metric exhibits how efficiently a firm is utilizing its assets to generate sales.

Right now, PBF Energy has an S/TA ratio of 2.48, which means that the company gets $2.48 in sales for each dollar in assets. Comparing this to the industry average of 1.77, it can be said that the company is more efficient.

While the level of efficiency in generating sales matters a lot, so does the sales growth of a company. And PBF Energy looks attractive from a sales growth perspective as well. The company's sales are expected to grow 24.8% this year versus the industry average of 16.8%.

Promising Earnings Estimate RevisionsSuperiority of a stock in terms of the metrics outlined above can be further validated by looking at the trend in earnings estimate revisions. A positive trend is of course favorable here. Empirical research shows that there is a strong correlation between trends in earnings estimate revisions and near-term stock price movements.

The current-year earnings estimates for PBF Energy have been revising upward. The Zacks Consensus Estimate for the current year has surged 13.7% over the past month.

Bottom LineWhile the overall earnings estimate revisions have made PBF Energy a Zacks Rank #1 stock, it has earned itself a Growth Score of A based on a number of factors, including the ones discussed above.

You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.

This combination indicates that PBF Energy is a potential outperformer and a solid choice for growth investors.

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, /PRNewswire/ -- PBF Energy Inc. (NYSE:PBF) ("PBF Energy") today announced that its indirect subsidiary, PBF Holding Company LLC ("PBF Holding"), intends to offer, subject to market and other conditions, $500 million in aggregate principal amount of exchangeable notes due 2032 (the "Notes"), in a private offering (the "Offering") exempt from registration under the Securities Act of 1933, as amended (the "Securities Act") . The Notes will be co-issued by PBF Finance Corporation, a wholly owned subsidiary of PBF Holding (together with PBF Holding, the "Issuers"). The Issuers also expect to grant the initial purchasers of the notes an option to purchase, for settlement within a period of 13 days from, and including, the date the notes are first issued, up to an additional $50 million aggregate principal amount of notes.

The Notes will be senior, unsecured obligations of the Issuers, and accrue interest payable semiannually in arrears. The Notes will be fully and unconditionally guaranteed, on a senior unsecured basis, by certain of PBF Holding's subsidiaries (the "Guarantors") that guarantee PBF Holding's existing senior unsecured notes, and will not be guaranteed by PBF Energy Inc.  The Notes will mature on January 15, 2032, unless earlier repurchased, exchanged or redeemed. Noteholders will have the right to exchange their Notes in certain circumstances and during specified periods. Exchanges will be settled in cash up to the aggregate principal amount of the Notes to be exchanged and, if applicable, cash, Class A common stock, par value $0.001 per share ("Common Stock") of PBF Energy or a combination thereof, at the Issuers' election, in respect of the remainder (if any) of the Issuers' exchange obligations in excess of the aggregate principal amount of the Notes being exchanged. The interest rate, initial exchange rate and other terms of the Notes will be determined at the time of pricing of the Offering.

The Issuers may not redeem the Notes prior to January 20, 2030, except in the event of a cleanup redemption (as defined below). The Notes will be redeemable, in whole or in part (subject to certain limitations), for cash at the Issuers' option at any time, and from time to time, on or after January 20, 2030 and prior to the 31st scheduled trading day immediately preceding the maturity date of the Notes, but only if the last reported sale price per share of PBF Energy's Common Stock has been at least 130% of the exchange price of the Notes for a specified period of time and certain other conditions are satisfied. The redemption price will be equal to the principal amount of the Notes to be redeemed, plus accrued and unpaid interest, if any, to, but excluding, the redemption date. The Issuers may also redeem for cash all, but not less than all, of the Notes at any time prior to the 31st scheduled trading day immediately preceding the maturity date, if the principal amount of Notes outstanding at such time is less than 10% of the aggregate principal amount of the Notes initially issued under the indenture (including any additional Notes issued pursuant to the initial purchasers' option) (a "cleanup redemption").

The holders of the Notes will be entitled to the benefits of a registration rights agreement pursuant to which the Issuers and PBF Energy will agree to register the resale of the shares of Common Stock, if any, deliverable upon exchange of the Notes under the Securities Act.

In connection with the pricing of the Notes, the Issuers and PBF Energy expect to enter into privately negotiated capped call transactions with one or more of the initial purchasers of the Notes or their respective affiliates or certain other financial institutions (the "option counterparties"). The capped call transactions will cover, subject to anti-dilution adjustments substantially similar to those applicable to the Notes, the number of shares of Common Stock initially underlying the Notes. The capped call transactions are expected generally to reduce the potential dilution to PBF Energy's Common Stock upon any exchange of Notes and/or offset any cash payments the Issuers are required to make in excess of the principal amount of exchanged Notes, as the case may be, with such reduction and/or offset subject to a cap.

The Issuers have been advised that, in connection with establishing their initial hedges of the capped call transactions, the option counterparties or their respective affiliates expect to enter into various derivative transactions with respect to PBF Energy's Common Stock and/or purchase shares of PBF Energy's Common Stock or other securities of PBF Energy in secondary market transactions concurrently with, or shortly after, the pricing of the Notes, including with, or from, as the case may be, certain investors in the Notes. This activity could increase (or reduce the size of any decrease in) the market price of PBF Energy's Common Stock or the Notes at that time. In addition, the Issuers and PBF Energy expect that the option counterparties or their respective affiliates may modify their hedge positions by entering into or unwinding various derivatives with respect to PBF Energy's Common Stock and/or purchasing or selling PBF Energy's Common Stock or other securities of PBF Energy or the Issuers in secondary market transactions following the pricing of the Notes and prior to the maturity of the Notes (and are likely to do so (x) during any observation period related to an exchange of Notes, following any redemption of Notes by the Issuers or following any repurchase of Notes by the Issuers in connection with any fundamental change and (y) following any repurchase of the Notes by the Issuers other than in connection with any such redemption or any fundamental change if the Issuers elect to unwind a corresponding portion of the capped call transactions in connection with such repurchase). This activity could also cause or avoid an increase or a decrease in the market price of PBF Energy's Common Stock or the Notes, which could affect the ability of holders to exchange the Notes, and, to the extent the activity occurs during any observation period related to an exchange of Notes, it could affect the number of shares of PBF Energy's Common Stock, if any, and value of the consideration that holders will receive upon exchange of the Notes.

The Issuers intend to use the net proceeds from the offering to pay the cost of the capped call transactions, and the remainder, together with available cash, to fund the repayment or redemption, as applicable, of all of its outstanding 7.875% Senior Unsecured Notes due 2030 (the "2030 Notes").  If the initial purchasers exercise their option to purchase additional Notes, the Issuers expect to use a portion of the proceeds from the sale of the additional Notes to enter into additional capped call transactions with the option counterparties, and for general corporate purposes. Pending such use, the Issuers may repay other debt and/or invest the net proceeds in short-term, interest-bearing deposit accounts. 

The offer and sale of the Notes, the related guarantees and any shares of PBF Energy's Common Stock deliverable upon exchange of the Notes have not been registered under the Securities Act or any other securities laws, and the Notes, such guarantees and any such shares cannot be offered or sold except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and any other applicable securities laws. The Notes and the related guarantees will only be offered and sold to persons who are reasonably believed to be "qualified institutional buyers" (as defined in Rule 144A under the Securities Act). This press release does not constitute a notice of repayment or notice of redemption of the 2030 Notes.

Although the Issuers and PBF Energy intend to enter into a registration rights agreement pursuant to which they will agree to file a resale registration statement under the Securities Act covering the resale of shares of PBF Energy's Common Stock, if any, deliverable upon exchange of the Notes, the registration rights agreement will contain significant limitations, and a resale registration statement may not be available at the time investors wish to resell the shares of PBF Energy's Common Stock, if any, deliverable upon exchange of their Notes. This press release does not constitute an offer to sell, or the solicitation of an offer to buy, the Notes, the guarantees or any shares of PBF Energy's Common Stock deliverable upon exchange of the Notes, nor will there be any sale of the Notes or the guarantees or any such shares of PBF Energy's Common Stock, in any state or other jurisdiction in which such offer, sale or solicitation would be unlawful. This press release is being issued pursuant to Rule 135c under the Securities Act.

Forward-Looking Statements
Statements in this press release relating to future plans, results, performance, expectations, achievements and the like are considered "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements include, without limitation, the statements regarding the proposed offering of the notes and the capped call transactions, the potential grant to the initial purchasers of an option to purchase additional notes, the completion, timing and size of the offering, the anticipated terms of the notes and the capped call transactions, the expected use of proceeds, including the proposed redemption or repayment of the 2030 Notes and expectations regarding the actions of the option counterparties and their respective affiliates. These forward-looking statements involve known and unknown risks, uncertainties and other factors, many of which may be beyond PBF Energy's and the Issuers' control, that may cause actual results to differ materially from any future results, performance or achievements expressed or implied by the forward-looking statements. Factors and uncertainties that may cause actual results to differ include but are not limited to the risks disclosed in the filings of PBF Energy and PBF Holding with the Securities and Exchange Commission. All forward-looking statements speak only as of the date hereof. Neither PBF Energy nor PBF Holding undertakes an obligation to revise or update any forward-looking statements except as may be required by applicable securities laws.

About PBF Energy Inc.
PBF Energy Inc. (NYSE:PBF) is one of the largest independent refiners in North America, operating, through its subsidiaries, oil refineries and related facilities in California, Delaware, Louisiana, New Jersey and Ohio. Our mission is to operate our facilities in a safe, reliable and environmentally responsible manner, provide employees with a safe and rewarding workplace, become a positive influence in the communities where we do business, and provide superior returns to our investors.

PBF Energy is also a 50% partner in the St. Bernard Renewables joint venture focused on the production of next generation sustainable fuels.

Contacts:
Colin Murray (investors)
[email protected]
Tel: 973.455.7578

Michael C. Karlovich (media)
[email protected]
Tel: 973.455.8994

SOURCE PBF Energy Inc.

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The Style Scores are broken down into four categories:

Value ScoreFinding good stocks at good prices, and discovering which companies are trading under their true value, are what value investors like to focus on. So, the Value Style Score takes into account ratios like P/E, PEG, Price/Sales, Price/Cash Flow, and a host of other multiples to highlight the most attractive and discounted stocks.

Growth ScoreWhile good value is important, growth investors are more focused on a company's financial strength and health, and its future outlook. The Growth Style Score takes projected and historic earnings, sales, and cash flow into account to uncover stocks that will see long-term, sustainable growth.

Momentum ScoreMomentum trading is all about taking advantage of upward or downward trends in a stock's price or earnings outlook, and these investors live by the saying "the trend is your friend." The Momentum Style Score can pinpoint good times to build a position in a stock, using factors like one-week price change and the monthly percentage change in earnings estimates.

VGM ScoreIf you like to use all three kinds of investing, then the VGM Score is for you. It's a combination of all Style Scores, and is an important indicator to use with the Zacks Rank. The VGM Score rates each stock on their shared weighted styles, narrowing down the companies with the most attractive value, best growth forecast, and most promising momentum.

How Style Scores Work with the Zacks Rank The Zacks Rank is a proprietary stock-rating model that harnesses the power of earnings estimate revisions, or changes to a company's earnings expectations, to help investors build a successful portfolio.

It's highly successful, with #1 (Strong Buy) stocks producing an unmatched +23.8% average annual return since 1988. That's more than double the S&P 500. But because of the large number of stocks we rate, there are over 200 companies with a Strong Buy rank, plus another 600 with a #2 (Buy) rank, on any given day.

This totals more than 800 top-rated stocks, and it can be overwhelming to try and pick the best stocks for you and your portfolio.

That's where the Style Scores come in.

You want to make sure you're buying stocks with the highest likelihood of success, and to do that, you'll need to pick stocks with a Zacks Rank #1 or #2 that also have Style Scores of A or B. If you like a stock that only has a #3 (Hold) rank, it should also have Scores of A or B to guarantee as much upside potential as possible.

Since the Scores were created to work together with the Zacks Rank, the direction of a stock's earnings estimate revisions should be a key factor when choosing which stocks to buy.

Here's an example: a stock with a #4 (Sell) or #5 (Strong Sell) rating, even one with Style Scores of A and B, still has a downward-trending earnings outlook, and a bigger chance its share price will decrease too.

Thus, the more stocks you own with a #1 or #2 Rank and Scores of A or B, the better.

Stock to Watch: PBF Energy (PBF - Free Report) PBF Energy Inc. is a leading independent refiner of crude oil based in Parsippany, New Jersey. Through six oil refineries and associated infrastructure in the United States, the company produces unbranded transportation fuels, heating oil, petrochemical feedstocks, lubricants and other petroleum products. The refineries can collectively process about 1,000,000 barrels of crude oil per day.

PBF is a #1 (Strong Buy) on the Zacks Rank, with a VGM Score of A.

It also boasts a Value Style Score of A thanks to attractive valuation metrics like a forward P/E ratio of 4.88; value investors should take notice.

For fiscal 2026, three analysts revised their earnings estimate upwards in the last 60 days, and the Zacks Consensus Estimate has increased $6.23 to $15.74 per share. PBF boasts an average earnings surprise of +123.4%.

With a solid Zacks Rank and top-tier Value and VGM Style Scores, PBF should be on investors' short list.

Key Takeaways PBF gained 19.3% in a month as refinery availability and margins improved.Martinez's restart and rising West Coast margins strengthened PBF's refining performance.PBF's five-year-high sales multiple, RFS costs and planned maintenance could test momentum. PBF Energy Inc. (PBF - Free Report) shares have gained 19.3% in the past month, extending a sharp rerating as refinery availability and margins improve. The Zacks Consensus Estimate for 2026 earnings has increased 43.9% over the past four weeks, adding fundamental support to the move.

Image Source: Zacks Investment Research

The question is how much of that improvement is already reflected in the shares. PBF’s diversified refining system, Martinez restart and cost program add support, while a five-year-high sales multiple, renewable-fuel costs and scheduled maintenance create clear tests for the run.

PBF's Refinery Footprint Supports Margin CapturePBF’s six-refinery network spans East Coast, Gulf Coast, West Coast and Mid-Continent markets, with about 1 million barrels per day of aggregate processing capacity. A weighted-average Nelson Complexity Index of 12.8 supports varied crude slates, broadening the company’s options for margin capture.

Management expects product inventories to remain unusually low, with normalization taking well into 2027. It also does not expect crude availability to constrain operations, an important advantage while global trade flows remain disrupted.

Martinez Restores PBF's West Coast CapacityMartinez returned to full operations in May 2026 and has produced its full product slate since the fire-affected units restarted. That restored a key part of PBF’s West Coast system just as regional product availability tightened.

West Coast throughput increased 32.6% year over year to 269,900 barrels per day in the second quarter. The region’s gross refining margin, excluding special items, reached $30.16 per barrel, up from $9.35 a year earlier.

PBF's Cost Program and Lower Debt Add SupportThe Refining Business Improvement program is lowering PBF’s structural cost base. Run-rate cost improvements exceeded $230 million by year-end 2025 and are expected to surpass $350 million by year-end 2026, with energy efficiency and procurement initiatives contributing.

Balance-sheet repair adds another layer of flexibility. PBF cut net debt by more than 62% in the second quarter to about $855 million, while operational liquidity exceeded $3.5 billion at June 30.

PBF's Valuation Tests What May Be Priced InPBF trades at 0.26X forward 12-month sales, well below the Zacks sub-industry’s 1.61X. Yet 0.26X is also the top of PBF’s five-year range, versus a median of 0.12X, suggesting the stock is no longer cheap relative to its own history.

Delek US Holdings, Inc. (DK - Free Report) reported second-quarter 2026 refining adjusted EBITDA of $566.2 million, up from $114.8 million a year earlier, showing the broader benefit from stronger crack spreads. Valero Energy Corporation (VLO - Free Report) likewise posted refining operating income of $4.5 billion, up from $1.3 billion a year earlier. Peer strength supports the refining backdrop but does not remove PBF’s company-specific valuation tension.

RFS Costs and Turnarounds Could Test PBF's RunRenewable Fuel Standard compliance costs more than doubled to $331.3 million in the second quarter from $165 million a year earlier. First-half costs reached $609.3 million versus $285 million, showing how environmental-credit obligations can absorb part of the margin uplift.

Maintenance remains another test. Martinez’s hydrocracker turnaround is scheduled from late in the third quarter through October, while Paulsboro’s crude-unit work remains planned for late fall. Ongoing Martinez regulatory investigations add another source of uncertainty.

Strong PBF Signals Reinforce the Momentum SetupPBF’s momentum still has fundamental support, but the next leg depends on capturing favorable refining margins while controlling compliance costs and downtime. The stock’s own five-year valuation range leaves less room for execution misses than the sub-industry discount alone suggests.

PBF currently carries a Zacks Rank #1 (Strong Buy), a Value Score of A, Growth Score of A, Momentum Score of B and VGM Score of A. The top Rank points to favorable near-term estimate-revision trends, while the Style Scores indicate a strong mix of value, growth and momentum characteristics. Those signals support the setup without eliminating refining-cycle or execution risk.

You can see the complete list of today’s Zacks #1 Rank stocks here.

Momentum investing is all about the idea of following a stock's recent trend, which can be in either direction. In the "long context," investors will essentially be "buying high, but hoping to sell even higher." And for investors following this methodology, taking advantage of trends in a stock's price is key; once a stock establishes a course, it is more than likely to continue moving in that direction. The goal is that once a stock heads down a fixed path, it will lead to timely and profitable trades.

Even though momentum is a popular stock characteristic, it can be tough to define. Debate surrounding which are the best and worst metrics to focus on is lengthy, but the Zacks Momentum Style Score, part of the Zacks Style Scores, helps address this issue for us.

Below, we take a look at PBF Energy (PBF - Free Report) , which currently has a Momentum Style Score of B. We also discuss some of the main drivers of the Momentum Style Score, like price change and earnings estimate revisions.

It's also important to note that Style Scores work as a complement to the Zacks Rank, our stock rating system that has an impressive track record of outperformance. PBF Energy currently has a Zacks Rank of #1 (Strong Buy). Our research shows that stocks rated Zacks Rank #1 (Strong Buy) and #2 (Buy) and Style Scores of "A or B" outperform the market over the following one-month period.

You can see the current list of Zacks #1 Rank Stocks here >>>

Set to Beat the Market? In order to see if PBF is a promising momentum pick, let's examine some Momentum Style elements to see if this refiner holds up.

A good momentum benchmark for a stock is to look at its short-term price activity, as this can reflect both current interest and if buyers or sellers currently have the upper hand. It's also helpful to compare a security to its industry; this can show investors the best companies in a particular area.

For PBF, shares are up 16.43% over the past week while the Zacks Oil and Gas - Refining and Marketing industry is up 9.23% over the same time period. Shares are looking quite well from a longer time frame too, as the monthly price change of 12.28% compares favorably with the industry's 4.07% performance as well.

While any stock can see a spike in price, it takes a real winner to consistently outperform the market. Over the past quarter, shares of PBF Energy have risen 74.69%, and are up 213.48% in the last year. In comparison, the S&P 500 has only moved 3.16% and 20.79%, respectively.

Investors should also pay attention to PBF's average 20-day trading volume. Volume is a useful item in many ways, and the 20-day average establishes a good price-to-volume baseline; a rising stock with above average volume is generally a bullish sign, whereas a declining stock on above average volume is typically bearish. PBF is currently averaging 3,270,012 shares for the last 20 days.

Earnings OutlookThe Zacks Momentum Style Score also takes into account trends in estimate revisions, in addition to price changes. Please note that estimate revision trends remain at the core of Zacks Rank as well. A nice path here can help show promise, and we have recently been seeing that with PBF.

Over the past two months, 3 earnings estimates moved higher compared to 1 lower for the full year. These revisions helped boost PBF's consensus estimate, increasing from $8.18 to $15.74 in the past 60 days. Looking at the next fiscal year, 5 estimates have moved upwards while there have been no downward revisions in the same time period.

Bottom LineTaking into account all of these elements, it should come as no surprise that PBF is a #1 (Strong Buy) stock with a Momentum Score of B. If you've been searching for a fresh pick that's set to rise in the near-term, make sure to keep PBF Energy on your short list.