Why These Energy Stocks Are Gaining This Week

7. PBF Energy Inc. (NYSE:PBF)

Share Price Gains Between May 1 – May 8: 16.03%

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.

The share price of PBF Energy Inc. (NYSE:PBF) surged this week despite the company posting a net loss, as the fire at its Martinez refinery in California and other turnaround activities weighed on refining margins. However, the company’s adjusted EPS of -$3.09 still managed to top estimates by $0.2, while its revenue of $7 billion also beat expectations by $464.4 million. Despite the loss, PBF Energy maintained its quarterly dividend at $0.275 per share. Moreover, to help improve its profitability, the company has outlined $200 million of cost-saving initiatives for 2025.