SCHEDULE: BlackRock Boosts PBF Energy Stake to 8.6%
Beneficial Ownership Report
BlackRock, Inc. has reported an 8.6% beneficial ownership stake in PBF Energy Inc.'s Class A Stock, holding 9,960,295 shares as of September 30, 2025.
Summary
- BlackRock, Inc. reported beneficial ownership of 9,960,295 shares of PBF Energy Inc. Class A Stock.
- This represents 8.6% of the total outstanding Class A Stock.
- The filing date for this Schedule 13G Amendment No. 4 was October 17, 2025, with the event date being September 30, 2025.
- BlackRock holds sole voting power over 9,671,980 shares and sole dispositive power over all 9,960,295 shares.
- The securities were acquired and are held in the ordinary course of business, not for the purpose of changing or influencing control of PBF Energy Inc.
- BlackRock Fund Advisors is identified as an entity beneficially owning 5% or greater of the outstanding shares.
Sentiment
Score: 6
Explanation: The filing indicates a significant institutional investment by BlackRock, which is generally a positive signal of confidence. However, it is a routine ownership disclosure and does not contain operational or financial performance data to warrant a higher score.
Positives
- Increased institutional ownership by a major asset manager like BlackRock can signal confidence in PBF Energy Inc.'s long-term prospects.
- The acquisition of shares was stated to be in the ordinary course of business, indicating a standard investment strategy rather than an activist intent.
Future Outlook
No forward-looking statements or guidance are provided in this beneficial ownership report.
Management Comments
- The securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under §§ 240.14a-11.
Industry Context
BlackRock's increased stake in PBF Energy Inc., an independent petroleum refiner, reflects ongoing institutional interest in the energy sector. Such investments by major asset managers often indicate a belief in the long-term value or strategic positioning of the company within its industry, potentially driven by current market conditions or future energy demand outlook.
Comparison to Industry Standards
- This filing primarily concerns an ownership disclosure by a major institutional investor, BlackRock, Inc., rather than PBF Energy Inc.'s operational or financial results. Therefore, direct comparisons to industry-specific operational benchmarks or competitor performance are not applicable based solely on this document.
- BlackRock's significant stake (8.6%) in PBF Energy Inc. positions it as a substantial institutional holder, a common practice for large asset managers like Vanguard, State Street, or Fidelity, which typically hold diversified portfolios across various sectors, including energy.
Management Changes
| Role | Previous Person | New Person | Effective Date | Reason |
|---|---|---|---|---|
| Attorney-in-Fact | Previous Power of Attorney holders (revoked April 30, 2023) | Eric Andruczyk, Richard Cundiff, R. Andrew Dickson, III, Spencer Fleming, Laura Hildner, David Maryles, Christopher Meade, Charles Park, James Raby, Daniel Riemer, David Rothenberg, Brenda Schulz | 2025-01-21 | Update and renewal of the Power of Attorney document for SEC filings. |
Corporate Governance
| Change Type | Description | Effective Date | Impact Assessment |
|---|---|---|---|
| Power of Attorney Update | BlackRock, Inc. executed a new Power of Attorney, effective January 21, 2025, appointing several individuals as attorneys-in-fact for executing SEC and other regulatory filings. This new document revokes a previous Power of Attorney dated April 30, 2023. | 2025-01-21 | Streamlines the process for BlackRock's authorized individuals to sign and file necessary regulatory documents on behalf of the company and its affiliates, ensuring compliance with ownership reporting requirements. |
Stakeholder Impact
- Shareholders: Increased institutional ownership by BlackRock may be viewed positively, potentially signaling confidence in the company's value and stability, which could influence investor sentiment.
- Management: The filing confirms BlackRock's investment is for ordinary business purposes, not for control, which may reduce concerns about activist pressure.
Key Dates
| Date | Description |
|---|---|
| 2023-04-30 | Date of the previously revoked Power of Attorney. |
| 2025-01-21 | Effective date of the new Power of Attorney for BlackRock, Inc. |
| 2025-09-30 | Date of the event which required the filing of this Schedule 13G. |
| 2025-10-17 | Date the Schedule 13G was signed by BlackRock, Inc. |
Recommendation
holdThis Schedule 13G filing indicates a significant institutional stake by BlackRock, Inc. in PBF Energy Inc. While increased institutional ownership can be a positive signal, the filing itself is a disclosure of ownership and does not provide new financial performance data, strategic updates, or operational insights that would warrant a 'buy' or 'sell' recommendation. Therefore, a 'hold' recommendation is appropriate, acknowledging the institutional confidence without suggesting immediate action based solely on this ownership report.
Keywords
PBF Energy, BlackRock, Class A Stock, SEC filing, 13G, Institutional Ownership, Beneficial Ownership, Energy Sector, Refining
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