|April 15, 2013|
|08:33 EDT||PBF||PBF Energy chairman comments on Renewable Fuels Standard|
PBF Energy Inc.’s Executive Chairman, Thomas D. O’Malley, commented, in an April 12 article published by Platts, on the rising cost of compliance with the Renewable Fuels Standard through the purchase of RINs. RINs are renewable identification numbers attached to each gallon of renewable fuel produced and are used to ensure obligated parties are using the required quantities of renewable fuel in on-road fuels as mandated by the United States Environmental Protection Agency and the RFS. PBF Energy disclosed that it had expected to spend approximately $120M on RINs in 2013 and that amount could increase by $30M-$40M due to the rising cost of RINs. PBF Energy believes that the additional costs to producers associated with RINs will, unfortunately and inevitably, be passed on to consumers as the industry and consumers are effectively forced to comply with the government’s policy of subsidizing renewable fuels.
News For PBF From The Last 14 Days
|October 13, 2014|
|10:08 EDT||PBF||On The Fly: Analyst Downgrade Summary|
Today's noteworthy downgrades include: Bankrate (RATE) downgraded to Equal Weight from Overweight at Stephens... CME Group (CME) downgraded to Market Perform from Outperform at Wells Fargo... Cliffs Natural (CLF) downgraded to Neutral from Overweight at JPMorgan... Dana Holding (DAN) downgraded to Sector Perform from Outperform at RBC Capital... Darden (DRI) downgraded to Neutral from Overweight at Piper Jaffray... Dover (DOV) downgraded to Neutral at RW Baird... DryShips (DRYS) downgraded to Underperform from Outperform at Imperial Capital... Infineon (IFNNY) downgraded to Neutral from Overweight at JPMorgan... J.C. Penney (JCP) downgraded to Sell from Neutral at UBS... Johnson Controls (JCI) downgraded to Outperform from Top Pick at RBC Capital... Juniper (JNPR) downgraded to Hold from Buy at Argus... Kennametal (KMT) downgraded to Market Perform from Outperform at Wells Fargo... Masco (MAS) downgraded to Equal Weight from Overweight at Barclays... New Gold (NGD) downgraded to Neutral from Overweight at JPMorgan... ON Semiconductor (ONNN) downgraded to Sector Perform from Outperform at Pacific Crest... PBF Energy (PBF) downgraded to Underweight from Equal Weight at Barclays... Parker-Hannifin (PH) downgraded to Market Perform from Outperform at Wells Fargo... STMicroelectronics (STM) downgraded to Neutral from Overweight at JPMorgan... Silicon Laboratories (SLAB) downgraded to Sector Perform at Pacific Crest... VOXX International (VOXX) downgraded to Market Perform from Outperform at Cowen.
|05:58 EDT||PBF||PBF Energy downgraded to Underweight from Equal Weight at Barclays|
Barclays downgraded PBF Energy to Underweight citing relative valuation. The firm keeps a $30 price target for shares.
|October 9, 2014|
|10:00 EDT||PBF||On The Fly: Analyst Initiation Summary|
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|October 8, 2014|
|16:58 EDT||PBF||PBF Energy initiated with a Hold at Deutsche Bank|