TSX seen lower ahead of Canadian GDP, U.S. PCE data
In a challenging year for energy companies, PBF Energy Inc. (NYSE: NYSE:PBF) stock has tumbled to $22.48, near its 52-week low. According to InvestingPro data, management has been actively buying back shares, and the company maintains a 4.13% dividend yield with 37.5% dividend growth. The significant downturn reflects a broader trend in the sector, with PBF Energy experiencing a stark 1-year change, plummeting by -47.94%. Investors are closely monitoring the stock as it navigates through volatile market conditions, which have seen many energy stocks retreat from previous highs. The company’s performance is under scrutiny as market analysts and shareholders consider the long-term implications of this substantial decline. InvestingPro subscribers have access to 8 additional key insights and a comprehensive Pro Research Report that could help evaluate PBF Energy’s future prospects.
In other recent news, PBF Energy has reported a wider Q4 loss and a revenue miss in a challenging market. The company’s adjusted loss was $2.82 per share for the fourth quarter, significantly worse than the analyst estimate of a $1.97 per share loss. Revenue for the quarter was $7.35 billion, falling short of the consensus estimate of $7.76 billion. In terms of operations, the company reported a loss of $699.0 million for the full year 2024, a stark contrast to the income from operations of $2,951.5 million in 2023.
Also, PBF Energy announced a quarterly dividend of $0.275 per share. The company’s renewable diesel production at St. Bernard Renewables averaged approximately 17,000 barrels per day in the fourth quarter, with an expected decrease in the first quarter due to a planned catalyst change. Lastly, PBF Energy ended 2024 with approximately $536 million in cash and $921 million in net debt, returning over $60 million to stockholders through dividends and share buybacks in the fourth quarter and approximately $450 million for the full year. These are the recent developments for PBF Energy.
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