PBF Energy Inc. (NYSE:PBF) is one of the 10 Stocks Dominating Today’s Market Action.
PBF Energy soared to an over one-year high on Wednesday, as investors loaded portfolios ahead of business updates amid its participation in an upcoming conference.
At intra-day trading, the stock soared to its highest price of $45.13 before paring gains to finish the session just up by 12.68 percent at $44.80 apiece.
Photo from PBF Energy LinkedIn
According to the company, members of its management team will take part in the Wolfe Research Refining Conference on Thursday, March 5, where investors will be watching out for cues to further boost buying appetite.
Meanwhile, Class A common shareholders on record as of February 25 are set to receive on March 11 amounting to $0.275 dividends for every share held.
The distribution followed PBF Energy Inc.’s (NYSE:PBF) strong fourth quarter performance, having swung to a net income attributable to shareholders of $78.4 million from a $289.3 million net loss attributable to shareholders in the same quarter a year earlier. Revenues, on the other hand, dipped by 3 percent to $7.14 billion from $7.35 billion year-on-year.
In the full-year period, PBF Energy Inc. (NYSE:PBF) remained at a net loss attributable to shareholders of $158.5 million, albeit 70 percent lower than the $533.8 million net loss attributable to shareholders in 2024. Revenues also fell by 11.5 percent to $29.3 billion from $33 billion year-on-year.
“2025 presented significant challenges and opportunities for PBF. Early in the year, unexpected downtime at our Martinez refinery resulted in substantial work and an unplanned use of resources. However, while this challenge was being addressed, we were also able to pursue efficiencies across the company, improving our cost structure and building a stronger operating base for the future,” PBF Energy Inc. (NYSE:PBF) President and CEO Matthew Lucey said.
“We are now in the final stages of restoration at Martinez, and our full system will soon be operational—positioning us well as the competitive landscape improves,” he added.
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