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In a recent transaction, Control Empresarial de Capitales S.A. de C.V., a significant stakeholder in PBF Energy Inc. (NYSE:PBF), acquired 20,000 Class A Common Shares of the company. The purchase comes as PBF trades near its 52-week low of $18.55, having declined over 66% in the past year. According to InvestingPro data, this insider buying aligns with management’s recent share repurchase activities. The shares were purchased at a weighted average price of $19.086, with individual transaction prices ranging from $19.07 to $19.10. This acquisition, totaling approximately $381,719, increased Control Empresarial’s stake to 30,534,998 shares, representing about 26.5% of PBF Energy’s outstanding Class A Common Shares. The transaction was executed on March 28, 2025, as disclosed in a recent SEC filing. The company, currently valued at $2.2 billion, offers a dividend yield of 5.76%. Get access to 12 additional key insights about PBF Energy with an InvestingPro subscription, including detailed insider trading patterns and comprehensive valuation analysis.
In other recent news, PBF Energy has announced plans to offer $750 million in senior notes due in 2030 through its subsidiary, PBF Holding Company LLC. The proceeds from this offering are intended to reduce debt under its revolving credit facility and for general corporate purposes. Meanwhile, PBF Energy is preparing to restart its Martinez, California refinery in stages after a fire earlier this year. The refinery is expected to begin partial operations in the second quarter of 2025, with full operations anticipated by the fourth quarter, and insurance is expected to cover most repair costs.
Analyst firms have also adjusted their outlooks on PBF Energy. Mizuho (NYSE:MFG) Securities lowered its price target for the company from $28 to $22, maintaining an Underperform rating due to anticipated operational challenges and lower earnings projections. UBS has similarly reduced its price target from $26 to $23, citing increased operating expenses related to the Martinez facility downtime. Furthermore, Fitch Ratings revised PBF Holding’s outlook from stable to negative, although it maintained the company’s ’BB’ rating, highlighting concerns about increased structural gross debt and potential liquidity strains.
These developments come amid a broader context of financial caution and operational adjustments for PBF Energy as it navigates challenges in the refining market.
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