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Control Empresarial de Capitales S.A. de C.V., a significant stakeholder in PBF Energy Inc. (NYSE:PBF), has recently increased its holdings in the company. According to a filing with the Securities and Exchange Commission, the firm acquired 15,000 shares of PBF Energy’s Class A Common Stock on April 15, 2025. The shares were purchased at a weighted average price of $14.4372 per share, within the price range of $14.41 to $14.45, bringing the total transaction value to approximately $216,558. This purchase comes at a time when PBF’s stock has declined over 73% in the past year, trading at just 0.3 times book value. According to InvestingPro analysis, the stock appears undervalued at current levels.
This acquisition elevates Control Empresarial’s total ownership to 30,774,998 shares, representing about 26.7% of the company’s outstanding Class A Common Stock. The transaction underscores the continued interest of Control Empresarial, and by extension, the Slim Family, in PBF Energy’s operations. InvestingPro data reveals that PBF currently offers a significant 7.4% dividend yield, despite facing challenges with its debt burden. For detailed analysis and 18 additional exclusive ProTips about PBF Energy, access the comprehensive Pro Research Report on InvestingPro. The Slim Family, known for their substantial business interests across various sectors, are indirect beneficiaries of the shares held by Control Empresarial.
In other recent news, PBF Energy announced plans to restart its Martinez, California refinery, which was shut down due to a fire in February 2025. The refinery, with a capacity of 157,000 barrels per day, will resume operations in phases, with some units expected to begin early in the second quarter of 2025 and full operations by the fourth quarter. The cost of repairs is expected to be largely covered by insurance, minimizing the financial impact on the company. Meanwhile, PBF Energy has announced a $750 million senior notes offering, with proceeds intended to reduce debt and for general corporate purposes.
Analysts have weighed in on PBF Energy’s outlook, with Mizuho (NYSE:MFG) reducing the price target from $28 to $22 and maintaining an Underperform rating due to anticipated weaker first-quarter performance. UBS also revised its price target to $23 from $26, citing increased operating expenses related to the Martinez facility downtime and projecting a significant first-quarter 2025 earnings loss. Additionally, Fitch Ratings revised the outlook for PBF Holding Company LLC to negative, maintaining a ’BB’ rating, due to concerns about increased debt and potential liquidity strains.
Fitch noted PBF’s strong geographic diversification but highlighted issues such as a higher cost structure compared to peers and challenges from the Martinez fire. Despite these challenges, PBF Energy’s management has expressed a focus on reducing leverage and maintaining stable dividends. These developments underscore the complexities PBF Energy faces as it navigates operational and financial hurdles.
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