Control empresarial de capitales buys $1.79 million in shares of PBF Energy Investing.com
Control Empresarial de Capitales SA de CV, a significant shareholder of PBF Energy Inc. (NYSE:), increased its stake in the company. According to a recent filing, the company purchased 70,000 shares of Class A common stock on December 26, 2024. The shares were acquired at an average price of $25.56, resulting in a total transaction value of approximately $1.79 million. The purchase comes as PBF Energy, currently valued at $2.98 billion, is trading near a 52-week low of $24.21, after falling about 44% over the past six months.
Following this purchase, Control Empresarial now holds 28,884,998 shares of PBF Energy. The acquisition reflects the company’s ongoing interest in the oil refining company, in which it already has a significant ownership stake. The details of the transaction were signed by Marco Antonio Slim Domit, acting as a lawyer. According to InvestingPro analysis, PBF Energy appears to be slightly undervalued at current levels, with technical indicators suggesting oversold conditions. Subscribers can access 12 additional exclusive professional tips and a comprehensive professional research report for deeper insight into PBF’s valuation and outlook.
In other recent news, analysts significantly downgraded PBF Energy. TD Cowen downgraded the company’s stock from Hold to Sell, citing challenges from rising West Coast renewable diesel imports and the company’s expensive refining system. Similarly, Mizuho (NYSE: ) Securities downgraded shares of PBF Energy from Neutral to Underperform, expecting weaker refining margins due to global capacity additions in 2025 and lagging demand growth.
In terms of financial results, PBF Energy reported a challenging third quarter of 2024 with an adjusted net loss of $1.50 per share and an adjusted EBITDA loss of $60.1 million. Despite these losses, the company announced a 10% increase in its dividend, indicating confidence in its financial stability.
Recent developments also include changes in executive compensation. PBF Energy announced long-term incentive awards for its named executive officers, which include restricted shares of Class A common stock, performance shares and performance shares with payouts contingent on the company’s benchmark total shareholder return relative to its peers as of January 1, 2025. , until December 31, 2027.
Finally, PBF Energy revealed its 2025 capital expenditure plans of between $750 million and $800 million, and is targeting cash savings of $200 million by the end of 2025. These are recent developments for PBF Energy according to various notes analysts and company notifications.
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