Form 4: Control Empresarial de Capitales S.A. de C.V. Increases Stake in PBF Energy Inc.

Control Empresarial de Capitales S.A. de C.V., along with the Slim Family, reports increased beneficial ownership in PBF Energy Inc. through recent Class A Common Stock purchases.

Summary

• Control Empresarial de Capitales S.A. de C.V. filed a Form 4 detailing changes in beneficial ownership of PBF Energy Inc. shares.
• On October 30, 2024, Control Empresarial purchased 300,000 Class A Common Shares at a weighted average price of $29.0051.
• On October 31, 2024, they purchased an additional 322,000 Class A Common Shares at a weighted average price of $28.4889.
• Following these transactions, Control Empresarial directly owns 25,962,498 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 22.2% of the 117,149,510 issued and outstanding Class A Common Shares of PBF Energy Inc.

Sentiment

Score: 7

Explanation: The sentiment is moderately positive as a major shareholder is increasing their investment, indicating confidence in the company's future.

Positives

• Increased investment by a major shareholder could be seen as a positive signal for the company's prospects.

Industry Context

This filing reflects ongoing investment activity in the energy sector, with a significant shareholder increasing their stake in PBF Energy Inc.

Comparison to Industry Standards

• Comparing this to other major shareholders in the refining industry, a 22.2% stake is a significant holding, potentially giving the Slim Family considerable influence.
• Other comparable companies in the refining sector include Valero Energy Corporation and Marathon Petroleum Corporation, where institutional ownership is typically more dispersed.

Stakeholder Impact

• Shareholders may view this increased investment positively.
• Employees may see this as a sign of stability and growth.

Key Dates