Why These Energy Stocks are Gaining This Week

2. PBF Energy Inc. (NYSE:PBF)

Share Price Gains Between July 7 – July 11: 17.51%

PBF Energy Inc. (NYSE:PBF) is one of the largest independent petroleum refiners and suppliers of unbranded transportation fuels, heating oil, petrochemical feedstocks, lubricants, and other petroleum products in the United States.

PBF Energy Inc. (NYSE:PBF) rallied to a 30-day high this week after Scotiabank raised the stock’s price target from $16 to $25, while reiterating a ‘Sector Perform’ rating on its shares. The revision comes as the analyst updates its price targets of the U.S. Integrated Oil, Refining, and Large Cap E&P stocks under its coverage. Moreover, the slight recovery in crude oil prices over the last few weeks has also worked in the company’s favor.

Despite the recent uptick, the share price of PBF Energy Inc. (NYSE:PBF) has fallen by almost 30% over the last year.