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Steve Strazza

Control Empresarial Adds To Its PBF Stake

June 24, 2024

From the Desk of Steve Strazza and Alfonso Depablos

Control Empresarial de Capitales S.A. has two significant insider buys on today’s list, as it continues to build positions in a pair of energy companies.

In a Form 4 filing, the Mexican company revealed another purchase in PBF Energy Inc $PBF, this time for approximately $24.6 million.

This is the sixth Form 4 filing they’ve made for PBF this month.

Control Empresarial also bought 300,000 shares of Talos Energy Inc $TALO, equivalent to $3,240,000.

Here’s The Hot Corner, with data through June 21, 2024:

240624_hot_corner_table

The CEO and one director of Veris Residential Inc $VRE both filed Form 4s revealing a combined purchase of $644,447.

As you can see, the stock has been carving out a multi-year basing pattern:

240624_hot_corner_pbf

Price is currently below a critical resistance level as buyers work on absorbing overhead supply.

If and when we get a decisive breakout above 54, we believe PBF will be more than ready to embark on a new leg up.

Stay tuned. We'll be back on Tuesday with more insider activity.

And please reach out with any questions. We love hearing from you!

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