Troubled California oil refinery puts PBF's turnaround skills to the test [Reuters]
PBF Energy Inc. Class A (PBF)
Last pbf energy inc. class a earnings: 2/13 06:30 am
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Source: Reuters
Troubled California oil refinery puts PBF's turnaround skills to the test HOUSTON An aging California refinery is testing PBF Energy Inc's reputation as a turnaround whiz, with mounting production woes and costly repairs at the 88-year-old plant throwing a wrench into efforts to quickly revive profits. The refinery, acquired from Exxon Mobil Corp for $537.5 million, has reported frequent breakdowns since the deal closed last July. On April 1, a regional air-quality regulator expects to consider the plant's frequent breakdowns and emissions, along with a plan to enhance safety with an expensive phase out of a chemical used in gasoline production. PBF is spending $100 million this year to improve operations, and is budgeting another $50 million for upgrading its electric power to prevent outages. Phasing out the use of modified hydrofluoric acid at the plant presents a potentially larger bill that was not on the table when PBF bought the refinery last July. This week, the company lower
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PBF
News
- Has PBF Energy (PBF) Outpaced Other Oils-Energy Stocks This Year? [Yahoo! Finance]Yahoo! Finance
- While shareholders of PBF Energy (NYSE:PBF) are in the black over 3 years, those who bought a week ago aren't so fortunate [Yahoo! Finance]Yahoo! Finance
- Small and midcap pair trades for every sector - Oppenheimer [Seeking Alpha]Seeking Alpha
- Chevron, Occidental raised at Scotiabank; PBF Energy a potential positive Q1 surprise [Seeking Alpha]Seeking Alpha
- PBF Energy Inc. (NYSE: PBF) had its price target raised by analysts at Scotiabank from $39.00 to $56.00. They now have a "sector perform" rating on the stock.MarketBeat
PBF
Earnings
- 2/15/24 - Miss
PBF
Sec Filings
- 3/27/24 - Form 4
- 3/27/24 - Form 4
- 3/26/24 - Form 144
- PBF's page on the SEC website