On July 29, PBF Energy Inc rose 5.12% in regular trading, trading at $64.17/share, with turnover of $85.10 million. The rally came ahead of the company's Q2 earnings release scheduled for the following day's pre-market session, with market consensus pointing to a dramatic earnings turnaround.

Wall Street consensus estimates project Q2 revenue of approximately $9.872 billion, representing a 42.06% year-over-year increase. Adjusted earnings per share are expected at $4.17, surging 478.20% year-over-year, marking a significant swing from last quarter's loss of $0.88 per share. EBIT is forecast at $619 million, up 567.65% year-over-year. Over the past six months, institutional sentiment has shifted positively, with TD Cowen upgrading the stock from Sell to Hold in late June while raising its price target to $39 from $36. The average analyst price target stands at $45.09.

PBF Energy is one of the largest independent petroleum refiners in the United States, producing gasoline, ultra-low-sulfur diesel, heating oil, jet fuel, lubricants, petrochemicals, and asphalt, serving markets across the Northeast, Midwest, Gulf Coast, and West Coast.

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