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Control Empresarial de Capitales S.A. de C.V. recently acquired 6,000 shares of PBF Energy Inc. (NYSE:PBF) in a transaction dated February 20, 2025. The shares were purchased at a price of $23.77 each, totaling approximately $142,620. The purchase comes as PBF trades near its 52-week low of $22.03, with the stock down nearly 50% over the past year.
Following this transaction, Control Empresarial now holds a total of 29,711,998 shares of PBF Energy. The purchase further solidifies the ownership stake of the Slim Family, which indirectly benefits from these shares through a Mexican trust. This acquisition represents about 25.8% of the total issued and outstanding Class A Common Shares of PBF Energy, as reported in the company’s recent SEC filings. With a current market capitalization of $2.7 billion and a dividend yield of 4.74%, InvestingPro analysis suggests PBF Energy is currently trading below its Fair Value.
In other recent news, PBF Energy faced a challenging fourth quarter of 2024, reporting earnings per share of -$2.82, which missed analysts’ forecasts of -$1.97. The company also reported revenue of $7.35 billion, falling short of the expected $7.76 billion. Operational disruptions, including a fire at the Martinez refinery, have significantly impacted PBF Energy’s production capacity, as the facility accounts for 15% of the company’s total capacity. The shutdown’s duration remains unspecified, leading to financial uncertainty. Analyst firms, including JPMorgan and TD Cowen, have reacted to these developments by adjusting their price targets for PBF Energy’s shares to $31 and $19, respectively, with JPMorgan maintaining a Neutral rating and TD Cowen a Sell rating. The company has also outlined a $200 million business improvement plan focusing on energy usage and turnaround, with detailed plans expected by the end of the first quarter of 2025. Despite these challenges, PBF Energy continues to prioritize strengthening its balance sheet and financial stability.
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