Carlos Slim Helú Makes Significant Energy Investment in U.S. Companies

Mexican billionaire Carlos Slim Helú has recently made a substantial energy investment in two relatively small U.S. companies. Control Empresarial de Capitales, a firm controlled by the Slim family, has acquired additional shares in both Talos Energy and PBF Energy, making them the largest shareholder of both firms. This significant investment amounted to over $300 million, with Talos Energy valued at approximately $1.6 billion and PBF Energy valued at around $5 billion.

Increased Stake in Talos Energy

On January 17, Control Empresarial purchased 19.7 million shares of Talos for $230 million, at an average price of $11.70 per share. As stated in a form filed with the Securities and Exchange Commission, the family now owns 34.7 million shares of Talos, representing a 22.6% stake.

Growing Position in PBF Energy

Between January 12 and 17, Control Empresarial acquired an additional 1.8 million shares of PBF Energy for a total of $75 million. This brings their total holdings to 14.3 million shares, accounting for an 11.7% stake.

Capitalizing on Underperforming Stocks

The Slim family’s recent investments are in companies that experienced lackluster performances in 2023. Both Talos and PBF stock underperformed the broader market, with Talos falling 25% and PBF rising only 7.8%, compared to the S&P 500 index’s gain of 24%. Furthermore, their relative performance compared to industry peers also trailed behind the market.

Industry Comparison

Talos stock performed worse than other stocks in the Invesco S&P SmallCap Energy exchange-traded fund, which saw a modest gain of 2.3% in 2023. Similarly, PBF stock, which is part of the Invesco Energy Exploration & Production ETF, only managed a 4.5% gain, lower than the overall rise of PBF shares.

Carlos Slim’s Vision

Carlos Slim Helú, renowned for his success in the telecommunications industry, recently advocated for a shorter workweek. He proposed a three-day workweek, with work hours ranging from 10 to 11 hours per day.

Inside Scoop: This feature provides insights into stock transactions made by corporate executives, board members, prominent figures, politicians, and large shareholders. Due to their insider status, these investors are legally obligated to disclose their stock trades with regulatory groups such as the Securities and Exchange Commission.