PBF Energy (PBF) shares rose 3.6% in recent Thursday trading after the company reported Q1 revenue that topped estimates by analysts.

In the three months ended March 31, the company posted an adjusted loss of $3.09 per diluted share, compared with a profit of $0.85 a year earlier.

Analysts polled by FactSet expected a loss of $3.30.

Revenue fell to $7.07 billion from $8.65 billion a year earlier.

Analysts surveyed by FactSet expected $6.65 billion.

PBF maintained its quarterly dividend of $0.275 a share, payable May 29 to investor of record May 15.

The company agreed to sell refined product terminal facilities in Philadelphia and Knoxville, Tennessee, for $175 million to an undisclosed buyer.

The combined assets include 38 storage tanks with 1.9 million barrels of storage capacity and associated truck racks, the company said. The agreement is subject to the usual closing conditions and certain regulatory approvals.

Price: 17.79, Change: +0.61, Percent Change: +3.55