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Stock impact report

PBF Energy: The Regional Refining Capacity Squeeze [Seeking Alpha]

PBF Energy Inc. Class A (PBF) 
Last pbf energy inc. class a earnings: 2/13 06:30 am Check Earnings Report
US:NYSE Investor Relations: investors.pbfenergy.com
Company Research Source: Seeking Alpha
Decline in US and European refining capacity, coupled with high natural gas prices, will keep refiners' profit margins elevated. PBF Energy is undervalued compared to its peers, with a potential price target of $71.50, representing a 22% premium. California is PBF's most important regional market and plunging refining capacity could drive elevated refining margins this summer. Elevated clean tanker rates drive up the cost of importing refined products to offset declining regional refinery capacity. The refining business is rather unique in energy because refiners don't benefit directly from higher oil or natural gas prices. The best way to think about refiners is that they're manufacturing firms; like all manufacturers, they convert various raw materials into finished goods used by consumers and businesses. In this case, the largest single raw material for refiners is crude oil fed into their facilities and their finished goods include refined products like gasoline, dies Show less Read more
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