Form 4: Control Empresarial de Capitales S.A. de C.V. Acquires Additional PBF Energy Shares

Control Empresarial de Capitales S.A. de C.V., a significant shareholder of PBF Energy Inc., reports the acquisition of 6,000 Class A Common Shares at $23.77 per share, increasing their holdings to 29,711,998 shares.

Summary

• Control Empresarial de Capitales S.A. de C.V. filed a Form 4 with the SEC on February 24, 2025, reporting a change in beneficial ownership of PBF Energy Inc. shares.
• On February 20, 2025, Control Empresarial acquired 6,000 Class A Common Shares at a price of $23.77 per share.
• Following the transaction, Control Empresarial directly owns 29,711,998 Class A Common Shares.
• The Slim Family, as beneficiaries of a Mexican trust that owns Control Empresarial, may be deemed to indirectly beneficially own these shares.
• These shares represent approximately 25.8% of the 115,313,481 issued and outstanding Class A Common Shares of PBF Energy, as reported in PBF Energy's Form 10-K filed on February 13, 2025.

Sentiment

Score: 6

Explanation: The sentiment is neutral to slightly positive. The acquisition of shares by a major shareholder can be seen as a vote of confidence, but it's a routine filing and doesn't necessarily indicate a major shift in the company's prospects.

Positives

• The increased stake by a major shareholder could be interpreted as a sign of confidence in PBF Energy's future prospects.

Industry Context

This filing reflects ongoing investment activity by a major shareholder in the energy sector. Monitoring such transactions provides insights into investor sentiment and potential strategic moves within the industry.

Comparison to Industry Standards

• Comparing PBF Energy's ownership structure to other independent refiners like Valero Energy (VLO) or Marathon Petroleum (MPC) can provide context.
• Institutional ownership levels and significant shareholder activity are key metrics to benchmark against industry peers.
• For example, if Valero has a higher percentage of institutional ownership compared to PBF Energy, it could indicate different investor preferences or risk profiles.

Stakeholder Impact

• Shareholders may view the increased stake by Control Empresarial positively.
• The transaction itself has minimal direct impact on employees, customers, suppliers, or creditors.

Key Dates