PBF Energy Falls 5.3% as Debt Deal and Analyst Caution Pressure Shares

PBF Energy Inc. (PBF) is down 5.3% today. Here is some analysis on what might have caused this price movement.

Analysis: The most likely catalyst is PBF’s newly announced exchangeable notes offering, which can create dilution and financing overhang concerns even when the proceeds are aimed at refinancing existing debt. The decline also appears to have been amplified by a fresh reaffirmation of a bearish Wall Street rating around the same time, which may have encouraged profit-taking after a strong run in refining stocks.

Details:

PBF disclosed on September 14, 2026 that its subsidiary planned a private offering of $500 million of senior unsecured exchangeable notes due 2032.

The company said the proceeds, together with cash on hand, are intended to redeem its outstanding 7.875% senior unsecured notes due 2030, making the move primarily a refinancing transaction rather than growth investment.

PBF also issued a conditional notice to redeem the 2030 notes at 103.938% of principal, plus accrued interest, if the financing closes successfully.

At roughly the same time, a major brokerage maintained an underweight stance on the shares, adding another reason for investors to turn cautious despite PBF’s otherwise improved 2026 operating backdrop.

Sources:

SEC, PBF Energy, Google Finance

Disclaimer: This price movement analysis was generated with the help of AI. Please double-check the information provided for mistakes.

$PBF Insider Trading Activity

$PBF insiders have traded $PBF stock on the open market 89 times in the past 6 months. Of those trades, 0 have been purchases and 89 have been sales.

Here’s a breakdown of recent trading of $PBF stock by insiders over the last 6 months:

EMPRESARIAL DE CAPITALES S.A. DE C.V. CONTROL has made 0 purchases and 58 sales selling 8,888,771 shares for an estimated $475,694,580.
THOMAS J. NIMBLEY has made 0 purchases and 9 sales selling 1,339,135 shares for an estimated $93,019,000.
MATTHEW C. LUCEY (CEO & President) has made 0 purchases and 3 sales selling 367,837 shares for an estimated $26,678,722.
TRECIA M CANTY (SVP and General Counsel) has made 0 purchases and 4 sales selling 278,319 shares for an estimated $18,670,671.
PAUL T DAVIS (Senior Vice President) has made 0 purchases and 3 sales selling 189,292 shares for an estimated $12,024,169.
JAMES E. FEDENA (Senior Vice President) has made 0 purchases and 8 sales selling 120,782 shares for an estimated $6,580,146.
TAI WENDY HO (Senior Vice President, HR) has made 0 purchases and 3 sales selling 41,053 shares for an estimated $2,979,497.
JOSEPH DANIEL MARINO (SVP, Chief Financial Officer) sold 4,033 shares for an estimated $278,881

To track insider transactions, check out Quiver Quantitative's insider trading dashboard. You can access data on insider stock transactions through the Quiver Quantitative API insider transaction endpoint.

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$PBF Hedge Fund Activity

We have seen 262 institutional investors add shares of $PBF stock to their portfolio, and 197 decrease their positions in their most recent quarter.

Here are some of the largest recent moves:

FMR LLC added 2,497,058 shares (+2701.8%) to their portfolio in Q2 2026, for an estimated $113,666,080
AQR CAPITAL MANAGEMENT LLC added 2,070,603 shares (+131.0%) to their portfolio in Q2 2026, for an estimated $94,253,848
SIXTH STREET PARTNERS MANAGEMENT COMPANY, L.P. added 1,678,123 shares (+inf%) to their portfolio in Q2 2026, for an estimated $76,388,158
BLACKROCK, INC. added 1,404,841 shares (+11.8%) to their portfolio in Q2 2026, for an estimated $63,948,362
INVESCO LTD. removed 1,308,591 shares (-53.2%) from their portfolio in Q2 2026, for an estimated $59,567,062
T. ROWE PRICE INVESTMENT MANAGEMENT, INC. added 1,234,865 shares (+77.8%) to their portfolio in Q2 2026, for an estimated $56,211,054
MARSHALL WACE, LLP removed 1,149,650 shares (-93.4%) from their portfolio in Q2 2026, for an estimated $52,332,068

To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard. You can access data on hedge funds moves and 13F filings through the Quiver Quantitative API 13F endpoint.

$PBF Price Targets

Multiple analysts have issued price targets for $PBF recently. We have seen 6 analysts offer price targets for $PBF in the last 6 months, with a median target of $41.0.

Here are some recent targets:

Jason Gabelman from TD Cowen set a target price of $39.0 on 06/29/2026
Connor Lynagh from Morgan Stanley set a target price of $38.0 on 06/12/2026
Nitin Kumar from Mizuho set a target price of $48.0 on 05/27/2026
Vikram Bagri from Citigroup set a target price of $43.0 on 05/01/2026
Betty Zhang from Scotiabank set a target price of $34.0 on 04/22/2026
Randy Ollenberger from BMO Capital set a target price of $50.0 on 04/02/2026

This article is not financial advice. See Quiver Quantitative's disclaimers for more information. Note that there may be inaccuracies due to mistakes in ticker-mapping, and other anomalies.