PBF Energy outperforms sector with strong year-to-date returns

PBF Energy (NYSE:), a prominent figure in the Oil and Gas – Refining and Marketing industry, has seen a significant boost in its year-to-date returns, posting a robust 12.8%. This impressive performance surpasses both sector and industry averages, as detailed in Zacks Investment Research’s recent report.

According to the Zacks Sector Rank, PBF Energy, part of the Oils-Energy group, holds a leading position. The Zacks Rank system has awarded PBF a #1 (Strong Buy) rank due to its improving earnings outlook. Over the past quarter, the Zacks Consensus Estimate for PBF’s full-year earnings has risen by 26.1%.

The industry in which PBF operates has witnessed an average return of 8.2% this year and holds a Zacks Industry Rank of #32.

In related news, Pioneer Natural Resources (NYSE:) from the Oil and Gas – Exploration and Production – United States industry is also showing promising performance. The company has recorded a year-to-date return of 6.7%, exceeding the industry average return of 6.1%. Pioneer currently holds a Zacks Rank of #2 (Buy). Over the past three months, Pioneer’s consensus EPS estimate for the current year has increased by 11.9%, indicating an optimistic outlook for both companies in their respective industries.

InvestingPro Insights

PBF Energy, a key player in the Oil, Gas & Consumable Fuels industry, has been making strategic moves that have caught the attention of InvestingPro. The management’s aggressive share buyback strategy, combined with strong earnings that should allow the continuation of dividend payments, are two InvestingPro Tips worth noting. It is also important to mention that the company has consistently increased earnings per share, which is a positive sign for potential investors.

Further insights from InvestingPro Data reveal that PBF Energy has a market capitalization of 5560M USD and a low P/E ratio of 2.01 as of Q3 2023, indicating that the company may be undervalued. The company’s revenue for the last twelve months as of Q3 2023 is an impressive 40032.4M USD, despite a decrease in revenue growth during the same period.

InvestingPro offers additional insights and tips for PBF Energy and other companies, providing a comprehensive tool for investors to make informed decisions. For instance, InvestingPro currently lists 15 additional tips for PBF Energy.

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