Key Highlights

  • PBF Energy (NYSE:PBF) traded at USD 85.03 in the October 21, 2026 session, up USD 2.03 or 2.45%, on volume of 189,313 shares, with a market value of USD 10.087 billion and a P/E of 7.03.
  • Published market data shows a PEG of 0.00, which means it was not calculated, so the below-1 filter passes it by default and the PEG says nothing about value here.
  • Second-quarter 2026 adjusted net income was USD 753.1 million, or USD 6.22 per share, on a gross refining margin of USD 23.40 per barrel and throughput of 887,300 barrels a day.
  • Net debt fell to USD 855.0 million from USD 1.620 billion at year-end 2025, and the Martinez refinery returned to full operations in May 2026 after a fire on February 1, 2025.

Where the Shares Stand

PBF Energy (NYSE:PBF) gained USD 2.03, or 2.45%, to USD 85.03 in the October 21, 2026 session on volume of 189,313 shares against a 3.343 million average. No company announcement dated October 20 or 21 was found. The market value is USD 10.087 billion and the trailing P/E is 7.03 in published market data. The PEG reads 0.00, which in this data set means the ratio was not calculated, not that growth is infinite. Refiners trade at low P/E multiples because margins are cyclical, so earnings at the top of the cycle make the multiple look cheap, which is a reason for caution when reading a 7.03.

Second-Quarter Results

Second-quarter revenue was USD 11.678 billion and net income attributable to the company was USD 906.4 million, or USD 7.54 per share, including an after-tax benefit of USD 159.8 million from special items, mainly Martinez insurance gains. Excluding special items, adjusted net income was USD 753.1 million, or USD 6.22 per share. The gross refining margin excluding special items was USD 23.40 per barrel, the profit per barrel of crude processed before operating costs. Throughput guidance for the third quarter is 900,000 to 960,000 barrels a day. A fifth insurance installment of USD 250.0 million lifted total unallocated receipts to USD 1.25 billion, and run-rate cost savings are expected to exceed USD 350 million by the end of 2026.

Balance Sheet, Risks and Dates

Cash was USD 894.1 million and total debt USD 1.749 billion at June 30, after the company repaid its asset-backed facility and refinanced about USD 802 million of 2028 notes with USD 500 million of 2034 notes. The quarterly dividend is USD 0.275 per share, and 2026 capital spending is guided to USD 825 million to 875 million. Risks include a fall in refining margins, outages, the Martinez hydrocracker turnaround moved to the end of the third quarter, regulatory costs in California and the end of insurance proceeds. The third-quarter release date was announced by the company but is not confirmed in the material reviewed.

Where Things Stand

PBF Energy (NYSE:PBF) is up 2.45% with no identified news, and the 7.03 P/E reflects peak-cycle refining profits and one-off insurance gains, not proof of undervaluation. The PEG of 0.00 is not meaningful. The balance of evidence is favorable on debt reduction and Martinez but tied to refining margins. The answer to the headline is that nothing specific moved the stock, and the low P/E reflects cyclical margins. The next marker is third-quarter results, where refining margins will be tested. This is not investment advice.