PBF Energy (PBF), other names highlighted by our monitoring of insider activity:
Marathon Petroleum (MPC) and Kinder Morgan (KMI). No one rational would credit insiders with mystical insight to foresee the demise of the largest refinery on the east coast. That the destruction and closing of this facility will take 335K barrels of daily gasoline production off the market. MPC and PBF insiders saw OTHER reasons to buy. All US refiners should benefit, but Phillips 66 (PSX), another name we cited this week on analyst upgrades, is also an east coast producer as is PBF.