PBF Energy Inc. (NYSE:PBF) Up 13% In The Past Month


Dallas, Texas 10/28/2013 (Financialstrend) – PBF Energy Inc. (NYSE:PBF) is a $691 million market capped oil refining and marketing company. Over the past week, the stock has shed 0.3% in value. This was in spite of strong rally posted by other refinery companies post unconfirmed news started to circulate that environmental protection agency  is on the verge of making public its decision to peg down the ceiling on the quantity of bio fuel that needs to be blended with fossil fuel. This decision was implemented in the previous decade to wean away the U.S. economy away from fossil based fuels. Since then a plethora of bio fuel producing companies have come up in U.S. and have been utilizing more and more agricultural produce like corn and molasses to produce bio fuel. This in turn has led many environmental agencies to push back indicating the huge imbalance in the food cycle that is being caused by large scale usage of produce to manufacture oil. EPA impending decision relaxing the rule is being seen as an effort by the agency to balance between the bio fuel production and agricultural produce needs.

The stock has appreciated by 13.08% during the past 30 days. Most of the appreciation came post the news of ethanol ceiling relaxation. As of close of business on October 25, the stock was trading at $25.67 per share which is a 2.58% decrease in comparison to previous day close. At current valuation the stock has been trading at levels which are 27.3% up from its 52 week low pricing.

Over the trailing 12 months, the company has posted sales of $19.82 billion leading to a net loss of $323 million. In the past 12 months, the firm has managed to post dividend yield of 4.67%. Analysts have a price target of $26.26 on the stock.

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