BlackRock Amends PBF Energy Stake, Maintains Passive Position

TL;DR

**BlackRock still owns PBF Energy stock, no big changes.**

AI Summary

BlackRock Inc. filed an amended SC 13G/A on January 23, 2024, disclosing its ownership of PBF Energy Inc. Class A Common Stock as of December 31, 2023. This amendment (Amendment No. 2) indicates BlackRock's continued significant passive stake in PBF Energy. For investors, this means a major institutional investor maintains confidence in PBF Energy, which can signal stability and potentially influence other institutional buying or selling decisions.

Why It Matters

This filing shows that BlackRock, a massive institutional investor, continues to hold a significant, passive stake in PBF Energy, signaling their long-term confidence in the company without seeking to influence management.

Risk Assessment

Risk Level: low — This filing is a routine update from a passive institutional investor and does not indicate any immediate risks or significant changes in company control.

Analyst Insight

A smart investor would note BlackRock's continued passive ownership as a sign of institutional confidence, but also understand that this filing doesn't signal any new strategic moves or changes in PBF Energy's operations.

Key Players & Entities

• BlackRock Inc. (company) — the reporting person and institutional investor
• PBF Energy Inc. (company) — the subject company whose stock is being reported
• Class A Common Stock (security_type) — the type of shares held by BlackRock
• December 31, 2023 (date) — the date of the event requiring the filing

FAQ

From the Filing

0001086364-24-001737.txt : 20240123 0001086364-24-001737.hdr.sgml : 20240123 20240123161358 ACCESSION NUMBER: 0001086364-24-001737 CONFORMED SUBMISSION TYPE: SC 13G/A PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20240123 DATE AS OF CHANGE: 20240123 SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: PBF Energy Inc. CENTRAL INDEX KEY: 0001534504 STANDARD INDUSTRIAL CLASSIFICATION: PETROLEUM REFINING [2911] ORGANIZATION NAME: 01 Energy & Transportation IRS NUMBER: 000000000 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13G/A SEC ACT: 1934 Act SEC FILE NUMBER: 005-87137 FILM NUMBER: 24552741 BUSINESS ADDRESS: STREET 1: 1 SYLVAN WAY CITY: PARSIPPANY STATE: NJ ZIP: 07054 BUSINESS PHONE: 973-455-7500 MAIL ADDRESS: STREET 1: 1 SYLVAN WAY CITY: PARSIPPANY STATE: NJ ZIP: 07054 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: BlackRock Inc. CENTRAL INDEX KEY: 0001364742 STANDARD INDUSTRIAL CLASSIFICATION: SECURITY BROKERS, DEALERS & FLOTATION COMPANIES [6211] ORGANIZATION NAME: 02 Finance IRS NUMBER: 320174431 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13G/A BUSINESS ADDRESS: STREET 1: 50 HUDSON YARDS CITY: NEW YORK STATE: NY ZIP: 10001 BUSINESS PHONE: 212-810-5300 MAIL ADDRESS: STREET 1: 50 HUDSON YARDS CITY: NEW YORK STATE: NY ZIP: 10001 FORMER COMPANY: FORMER CONFORMED NAME: BlackRock, Inc. DATE OF NAME CHANGE: 20060929 FORMER COMPANY: FORMER CONFORMED NAME: New BlackRock, Inc. DATE OF NAME CHANGE: 20060601 SC 13G/A 1 us69318g1067_012324.txt us69318g1067_012324.txt SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 13G Under the Securities Exchange Act of 1934 (Amendment No: 2) PBF Energy Inc. -------------------------------------------------------- (Name of Issuer) Class A Common Stock -------------------------------------------------------- (Title of Class of Securities) 69318G106 -------------------------------------------------------- (CUSIP Number) December 31, 2023 -------------------------------------------------------- (Date of Event Which Requires Filing of this Statement) Check the appropriate box to designate the rule pursuant to which this Schedule is filed: [X] Rule 13d-1(b) [ ] Rule 13d-1(c) [ ] Rule 13d-1(d) *The remainder of this cover page shall be filled out for a reporting person's initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter the disclosures provided in a prior cover page. The information required in the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes). CUSIP No. 69318G106 (1)Names of reporting persons. BlackRock, Inc. (2) Check the appropriate box if a member of a group (a) [ ] (b) [X] (3) SEC use only (4) Citizenship or place of organization Delaware Number of shares beneficially owned by each reporting person with: (5) Sole voting power 14678147 (6) Shared voting power 0 (7) Sole dispositive power 15175112 (8) Shared dispositive power 0 (9) Aggregate amount beneficially owned by each reporting person 15175112 (10) Check if the aggregate amount in Row (9) excludes certain shares (11) Percent of class represented by amount in Row 9 12.4% (12) Type of reporting person HC Item 1. Item 1(a) Name of issuer: ----------------------------------------------------------------------- PBF Energy Inc. Item 1(b) Address of issuer's principal executive offices: ----------------------------------------------------------------------- 1 SYLVAN WAY PARSIPPANY NJ 07054 Item 2. 2(a) Name of person filing: ---------------------------------------------------------------------- BlackRock, Inc. 2(b) Address or principal business office or, if none, residence: -----------------------------------------------------------