PBF Energy Shares Jump 12.7%, Hit One-Year High Ahead of Refining Conference
PBF Energy shares rose 12.68% to $44.80 after touching a one-year high of $45.13 before its March 5 Wolfe Research Refining Conference. It posted Q4 net income of $78.4 million versus a $289.3 million loss a year earlier on $7.14 billion revenue and declared a $0.275 dividend payable March 11.
1. Stock Performance
PBF Energy shares surged to an intraday one-year high of $45.13 and closed the session up 12.68% at $44.80 as investors positioned ahead of the Wolfe Research Refining Conference on March 5.
2. Q4 Financial Turnaround
The company swung to a net income of $78.4 million in the fourth quarter from a $289.3 million net loss a year earlier, while revenues dipped 3% to $7.14 billion, reflecting a substantial profitability improvement.
3. Dividend and Outlook
Class A shareholders of record on February 25 will receive a $0.275 per share dividend on March 11, and management highlighted that the Martinez refinery is in final restoration stages, positioning the company for stronger future operations.