PBF Energy’s stock performance
PBF Energy (PBF) stock’s returns put it in the fourth slot among the seven refining stocks in our survey. PBF marks the beginning of the middle order of these refining stocks. Marathon Petroleum (MPC) is also in the middle order, followed by Phillips 66 (PSX) and Valero Energy (VLO) in the bottom order. Let’s have a look at PBF Energy’s stock performance.
PBF stock has risen 12.2% since March 2, 2018, outperforming the SPDR S&P 500 ETF (SPY). SPY has fallen 2.1% in the same period. PBF’s peers MPC, PSX, and VLO have risen 11.3%, 5.1%, and 1.2%, respectively, in the last month.
PBF’s moving averages
On March 2, PBF Energy’s ten-day moving average (or 10 DMA) stood below its 30-day moving average (or 30 DMA). However, the rise in PBF stock led to an increase in its 10 DMA, resulting in its 10 DMA crossing over its 30 DMA, a technically bullish sign. PBF’s 10 DMA, which stood 3.1% below its 30 DMA on March 2, now stands 5.8% above its 30 DMA.
PBF Energy’s 1Q18 earnings expectations
PBF Energy is expected to post its 1Q18 results on May 3, 2018. Wall Street analysts expect PBF to post earnings per share (or EPS) of $0.13 in 1Q18. This is better than the adjusted loss posted by the company in 1Q17. PBF also posted an adjusted loss in 4Q17. PBF’s revenues are estimated to be ~$5.5 billion in 1Q18, which is about 15.0% higher than its revenues in 1Q17.
In 1Q18, the benchmark crack indicator has expanded year-over-year. The US Gulf WTI 3-2-1 crack has risen 9.0% over 1Q17 to $15.00 per barrel in 1Q18. This trend points toward a possible rise in refiners’ margins in 1Q18 over 1Q17.
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In the next part, we’ll study Marathon Petroleum’s (MPC) stock returns.