13 Best Crude Oil Stocks to Buy According to Analysts

9. PBF Energy Inc. (NYSE:PBF)

On April 10, Goldman Sachs initiated coverage of PBF Energy Inc. (NYSE:PBF) with a Neutral rating and $49 price target, highlighting the company’s strong exposure to tightening West Coast refining dynamics. The firm noted that a key variable remains the restart of Martinez, which represents roughly half of PBF’s West Coast footprint. If operations normalize successfully, that asset alone could materially strengthen earnings power.

Earlier, on April 2, BMO Capital raised its price target on PBF Energy Inc. (NYSE:PBF) to $50 from $43 and maintained a Market Perform rating. While first-quarter forecasts were tempered by operational downtime and capture headwinds, BMO emphasized that second-quarter conditions appear stronger, with PBF better positioned to capitalize on higher crack spreads.

PBF Energy Inc. (NYSE:PBF), founded in 2008 and headquartered in Parsippany, New Jersey, is one of North America’s major independent refiners. The company operates a broad refining and logistics network that supplies gasoline, diesel, jet fuel, and other petroleum products across several important U.S. markets. Its scale and geographic reach provide leverage to shifts in regional fuel pricing and supply conditions.

What makes PBF Energy Inc. (NYSE:PBF) appealing as a stock is its ability to improve refining margins. Independent refiners can see earnings rise rapidly when crack spreads expand, and PBF has meaningful exposure to some of the most capacity-constrained markets in the country. If Martinez returns smoothly and West Coast margins remain elevated, earnings estimates may continue moving higher. For investors seeking cyclical upside with tangible asset backing and strong cash flow potential, PBF Energy remains an intriguing refining opportunity.