Professional
Added to YB: 2024-10-23
Pitch date: 2024-10-23
PBF [bullish]
PBF Energy Inc.
+0.46%
current return
Author Info
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Company Info
PBF Energy Inc., through its subsidiaries, engages in refining and supplying petroleum products. The company operates in two segments, Refining and Logistics.
Market Cap
$3.8B
Pitch Price
$32.92
Price Target
N/A
Dividend
3.04%
Sector
Oil, Gas and Consumable Fuels
Category
value
Third Avenue Small Cap Value Fund New Position: PBF Energy Inc.
PBF: Diversified refiner, 1M bpd capacity. Post-COVID industry capacity cuts improved margins. Sold 50% JV to Eni for $846M, strengthened balance sheet. Trades at discount to NAV, low multiple of midcycle earnings, <1x peak FCF. Net cash position. Potential upside from improved outlook, capital returns, or corporate actions.
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