Why These Energy Stocks Are Losing This Week

3. PBF Energy Inc. (NYSE:PBF)

Share Price Decline Between Mar. 17 and Mar. 24: 11.79%

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 oil refining sector continues to face challenges as PBF Energy Inc. (NYSE:PBF) posted its third consecutive quarterly loss in Q4 2024, with an adjusted EPS of -$2.82 per share, missing expectations by $0.04. The company’s revenue of $7.35 billion also missed market estimates by $70 million. PBF also ended the year with almost $536 million in cash and approximately $921 million of net debt. The company has recently announced the intention to offer $750 million in senior notes to reduce debt and for general corporate purposes.

Moreover, analysts at UBS recently revised the price target for PBF Energy Inc. (NYSE:PBF) from $26 to $23.