Billionaire Steve Cohen has stepped up his interest in Alon Usa Energy Inc. (NYSE:ALJ). According to a recent filing with the Securities and Exchange Commission, his family office, Point72 Asset Management, has boosted its stake in the company to 3.81 million shares, from 1.12 million shares reported in its latest 13F filing. The fund’s current position amounts to approximately 5.4% of Alon’s common stock.
A petroleum refining and marketing company, Alon Usa Energy Inc. (NYSE:ALJ) has a market cap of $477 million and pays an annual dividend of $0.60 per share, providing investors with a juicy 9.2% yield. Analysts at Barclays have recently upgraded the stock to “Equal Weight” from “Underweight”, noting that they don’t believe the stock will “underperform the sector, given its already depressed valuation.” Alon is scheduled to release second quarter results on July 28 after the closing bell and the average earnings estimate among analysts is a loss of $0.16 per share with $854 million in revenues.
Hedge fund interest in Alon Usa Energy Inc. (NYSE:ALJ) took a dive during the first quarter, as the number of hedge funds holding the stock in their equity portfolio dropped to 15 at the end of March, from 21 a quarter before. David E. Shaw‘s fund, D. E. Shaw, held the largest stake among the funds followed by Insider Monkey: 3.78 million shares, down by 3% for the quarter. Jacob Gottlieb‘s Visium Asset Management was also invested and its holding was boosted by 56% to 1.08 million shares.
You can access the original SEC filing by clicking here.
Ownership Summary Table
|Name||Sole Voting Power||Shared Voting Power||Sole Dispositive Power||Shared Dispositive Power||Aggregate Amount Owned Power||Percent of Class|
|Cubist Systematic Strategies||0||13,210||0||13,210||13,210||Less than 0.1%|
|EverPoint Asset Management||0||325,000||0||325,000||325,000||0.5%|
|Steven A. Cohen||0||3,814,348||0||3,814,348||3,814,348||5.4%|
Page 1 of 11 – SEC Filing
(Amendment No. )*
ALON USA ENERGY, INC.
Common Stock, Par Value $0.01 Per Share