We recently compiled a list of the Weak Earnings, Outlook Drag Shares of These 10 Firms on Thursday. In this article, we are going to take a look at where PBF Energy Inc. (NYSE:PBF) stands against the other stocks.

The stock market finished firmer on Thursday, as investors cheered fresh inflation data and tariff updates that helped alleviate concerns about inflationary pressures and global trade tensions.

The Dow Jones rose by 0.77 percent, the S&P 500 increased 1.04 percent, while the Nasdaq jumped 1.50 percent.

Despite overall market gains, ten companies managed to register declines, mostly due to disappointing earnings performance, a weaker outlook, and downgraded ratings.

To come up with Thursday’s top losers, we considered only the stocks with at least $2 billion in market capitalization and $5 million in daily trading volume.

Aerial view of an oil refinery, with smoke billowing from its chimneys.

PBF Energy Inc. (NYSE:PBF)

PBF Energy Inc. (NYSE:PBF) retreated for the second day on Thursday, losing 12.78 percent to close at $23.21 apiece as investor sentiment was dampened by the company’s third consecutive quarter of losses.

On Thursday, PBF Energy Inc. (NYSE:PBF) said it swung to a net loss of $533.8 million, attributable to shareholders, in the full year 2024, reversing a net income of $2.14 billion in 2023.

Meanwhile, attributable net loss in the fourth quarter alone expanded by nearly 500 percent to $289.3 million from $48.4 million year-on-year.

Revenues for the quarter also dropped 19.6 percent to $7.35 billion from $9.14 billion year-on-year, while revenues for the full year declined 13.6 percent to $33.11 billion from $38.32 million in 2023.

"Global refining markets remain structurally tight, and capacity rationalization and demand growth are expected to exceed new refinery additions. In this environment, PBF Energy Inc. (NYSE:PBF)'s complex, predominantly coastal refining system, is well-positioned for the next cycle,” said PBF Energy Inc. (NYSE:PBF) President and CEO Matthew Lucey.

Overall PBF ranks 6th on our list of Thursday's top losers. While we acknowledge the potential of PBF as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns and doing so within a shorter timeframe. If you are looking for an AI stock that is more promising than PBF but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

 

READ NEXT: 20 Best AI Stocks To Buy Now and Complete List of 59 AI Companies Under $2 Billion in Market Cap.

 

Disclosure: None. This article is originally published at Insider Monkey.