Form 4: Control Empresarial de Capitales S.A. de C.V. Increases Stake in PBF Energy Inc.
SEC Form 4 Filing
Control Empresarial de Capitales S.A. de C.V., along with the Slim Family, reports an increase in their beneficial ownership of PBF Energy Inc. Class A Common Shares following recent purchases.
Summary
- Control Empresarial de Capitales S.A. de C.V. (Control Empresarial) reported changes in beneficial ownership of PBF Energy Inc. shares.
- On March 25, 2025, Control Empresarial purchased 130,000 Class A Common Shares at a weighted average price of $19.5645.
- On March 26, 2025, they purchased an additional 35,000 Class A Common Shares at a weighted average price of $19.3095.
- Following these transactions, Control Empresarial directly owns 30,514,998 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 26.5% of the 115,313,481 issued and outstanding Class A Common Shares of PBF Energy Inc. as of February 13, 2025.
Sentiment
Score: 6
Explanation: The sentiment is neutral to slightly positive. The increased stake suggests confidence, but it's a routine filing.
Positives
- The increased stake by Control Empresarial and the Slim Family could be interpreted as a positive signal regarding their confidence in PBF Energy's future prospects.
Industry Context
Form 4 filings are routine disclosures of transactions by company insiders and significant shareholders. This filing indicates increased investment by a major shareholder, which can influence market perception of the company.
Comparison to Industry Standards
- Comparing the ownership stake to other major shareholders in the refining industry is difficult without knowing the specific ownership structures of comparable companies such as Valero Energy Corporation, Marathon Petroleum Corporation, and Phillips 66.
- However, a 26.5% stake is generally considered a significant ownership position that could allow for substantial influence over company decisions.
Stakeholder Impact
- Shareholders may view the increased stake positively.
- Employees may see it as a sign of stability.
- The impact on customers, suppliers, and creditors is likely minimal.
Key Dates
| Date | Description |
|---|---|
| 2022-02-03 | Date of Schedule 13D/A filing by the Slim Family and Control Empresarial with the SEC. |
| 2025-02-13 | Date of PBF Energy Inc.'s Form 10-K filing with the SEC, reporting the number of outstanding Class A Common Shares. |
| 2025-03-25 | Date of first reported purchase of 130,000 Class A Common Shares. |
| 2025-03-26 | Date of second reported purchase of 35,000 Class A Common Shares. |
| 2025-03-27 | Date of signature of the Form 4 filing. |
Keywords
PBF Energy Inc., Control Empresarial de Capitales S.A. de C.V., Slim Family, Class A Common Shares, Beneficial Ownership, SEC Form 4, Stock Purchase
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