Worth Watching Stock for Traders: PBF Energy Inc. (NYSE:PBF)

PBF Energy Inc. (NYSE: PBF) stock identified change of 6.13% away from 52-week low price and recently located move of -53.40% off 52-week high price. It has market worth of $3002.09M and dividend yield of 4.78%. PBF stock has been recorded -9.56% away from 50 day moving average and -24.30% away from 200 day moving average. Moving closer, we can see that shares have been trading -12.02% off 20-day moving average.

On Aug. 1, 2019, PBF Energy Inc. (NYSE:PBF)  reported second quarter 2019 income from operations of $9.5 million as compared to income from operations of $422.3 million for the second quarter of 2018. Excluding special items, second quarter 2019 income from operations was $191.5 million as compared to income from operations of $264.3 million for the second quarter of 2018. PBF Energy’s financial results reflect the consolidation of PBF Logistics LP (NYSE: PBFX), a master limited partnership of which PBF indirectly owns the general partner and approximately 48% of the limited partner interests as of quarter-end.

The company reported second quarter 2019 net loss of $21.6 million and net loss attributable to PBF Energy Inc. of $32.2 million or $(0.27) per share. This compares to net income of $287.7 million, and net income attributable to PBF Energy Inc. of $272.1 million or $2.37 per share for the second quarter 2018. Special items included in the second quarter 2019 results, which decreased net income by a net, after-tax loss of $133.8 million, or $1.10 per share, consisted of a lower-of-cost-or-market (LCM) inventory adjustment. Adjusted fully-converted net income for the second quarter 2019, excluding special items, was $101.1 million, or $0.83 per share on a fully-exchanged, fully-diluted basis, as described below, compared to adjusted fully-converted net income of $160.2 million or $1.38 per share, for the second quarter 2018.

Tom Nimbley, PBF Energy’s Chairman and CEO, said, PBF delivered a solid financial quarter and we completed 100% of our planned major maintenance for the year. While we did have extended turnaround downtime on the East Coast during the quarter, our refineries are well positioned to operate unimpeded for the remainder of the year. Mr. Nimbley continued, In addition to the work completed on our existing assets, in June we announced our pending acquisition of the Martinez refinery. We are looking forward to closing the transaction by year-end and welcoming the Martinez employees to the PBF family.

The Basic Materials sector company, PBF Energy Inc. noticed change of -10.06% to $25.12 along volume of 4443829 shares in recent session compared to an average volume of 2136.65K. The stock observed return of -11.24% in 5 days trading activity. The stock was at -13.71% over one month performance. PBF’s shares are at -23.95% for the quarter and driving a -46.21% return over the course of the past year and is now at -23.11% since this point in 2018.

The average volatility for the week at 4.47% and for month was at 3.61%. There are 119.51M shares outstanding and 103.8M shares are floated in market. Right now the stock beta is 1.6.

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