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Control Empresarial de Capitales S.A. de C.V., a significant shareholder of PBF Energy Inc. (NYSE:PBF), has increased its stake in the company with a purchase of Class A Common Shares worth approximately $976,290. The transactions took place over two days, on April 1 and April 2, 2025, as the stock trades near its 52-week low of $18.20, having declined 67% over the past year. The company currently offers a 5.63% dividend yield.
On April 1, the company acquired 30,000 shares at an average price of $18.2582 each. The following day, Control Empresarial purchased an additional 22,000 shares at an average price of $19.4793. The purchases were executed within price ranges of $18.23 to $18.30 and $19.44 to $19.495, respectively. According to InvestingPro, analyst price targets for PBF Energy range from $17 to $29.
Following these transactions, Control Empresarial now holds a total of 30,586,998 shares of PBF Energy, representing approximately 26.5% of the company’s outstanding Class A Common Shares. This move underscores the continued interest and investment of the Slim Family, who are beneficiaries of a trust that owns Control Empresarial, in PBF Energy. InvestingPro analysis reveals 15 additional key insights about PBF Energy’s financial health and market position, available in the comprehensive Pro Research Report.
In other recent news, PBF Energy has announced plans to restart its Martinez, California refinery in stages following a fire earlier this year. The refinery, which has a capacity of 157,000 barrels per day, will begin partial operations in the second quarter of 2025 and is expected to be fully operational by the fourth quarter. The cost of repairs is largely covered by insurance, and the company anticipates that business interruption insurance will offset much of the financial impact. Concurrently, PBF Energy is offering $750 million in senior notes due in 2030 to reduce debt and fund general corporate purposes. Mizuho (NYSE:MFG) Securities and UBS have both revised their price targets for PBF Energy, citing increased operating expenses due to the Martinez downtime. Mizuho lowered its target to $22 and maintained an Underperform rating, while UBS adjusted its target to $23 with a Neutral rating. Fitch Ratings has also revised PBF Holding’s outlook to negative, highlighting concerns about increased debt and potential liquidity strains. Despite these challenges, PBF Energy continues to focus on reducing leverage and maintaining stable dividends.
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