On August 31, PBF Energy Inc rose 5.46% in regular trading, trading at $74.94/share, with turnover of $15.50 million. The stock is approaching its 52-week high of $75.68, extending a multi-session rally driven by a convergence of sector-wide tailwinds.

On the news front, President Trump is scheduled to meet with major U.S. refiners and fuel retailers on September 1 to discuss measures to lower gasoline prices ahead of the November midterm elections. PBF Energy is among the companies expected to attend, alongside Valero, Marathon Petroleum, Chevron, and Delek US. The meeting comes as national average gasoline prices remain above $4 per gallon amid the ongoing Iran conflict, which has kept crack spreads near historical extremes.

Separately, UBS recently raised its price target on PBF Energy to $84 from $62 while maintaining a Buy rating, well above the analyst consensus of $63.85. The company delivered a blowout Q2 with adjusted EPS of $6.22, beating the $4.11 consensus by over 51%, on revenue of $11.68 billion versus the $9.82 billion estimate. PBF also received a fifth $250 million insurance payment related to its Martinez refinery fire, bolstering liquidity.

Within the Oil & Gas Refining & Marketing sector, peers also posted gains: HF Sinclair up 3.0%, Valero up 2.51%, Phillips 66 up 2.33%, Marathon Petroleum up 1.65%, and Delek US up 1.51%.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)