Major Stakeholder Makes Bold Move With High-Value PBF Energy Stock Sale

New insider activity at PBF Energy ( (PBF) ) has taken place on July 22, 2026.

Carso De-C Inmobiliaria, listed among additional reporting persons in Exhibit 99-1, has executed a significant sale of PBF Energy stock, unloading 220,000 shares. This transaction amounts to a total value of $14,072,000, marking a sizable divestment from the company’s holdings.

PBF Energy shares have surged over the past year, driven by the Martinez refinery restart and stronger refining margins following disruption near the Strait of Hormuz. However, recent commentary suggests much of these operational tailwinds and margin strength are now reflected in the valuation, tempering near‑term upside expectations.

Analysts’ latest price target work focuses on two key issues: de‑risking Martinez reliability and balance‑sheet de‑leveraging, and assessing whether sustainable cost savings and robust refining cracks can turn a cyclical margin story into durable free cash flow. Some see PBF exiting a difficult operational stretch with high leverage to refining spreads and potential to generate significant free cash flow, but still expect a discount until execution risks fade.