South Ferry Capital’s New Energy Picks For Q3

South Ferry bought 50,000 shares of PBF Energy Inc (NYSE:PBF) during the second quarter. This stake in PBF Energy Inc (NYSE:PBF) comprised 2.53% of South Ferry’s equity portfolio  and was valued at $1.42 million as of June 30. PBF Energy Inc (NYSE:PBF) is a petroleum refiner and supplier of unbranded petrochemicals. Analysts expect PBF Energy Inc (NYSE:PBF) to report EPS of $0.91 for the second quarter, when it declares results on July 30, compared to the EPS of $0.29 that it reported for the same quarter last year. Moreover, analysts have a consensus ‘Overweight’ rating on the stock with an average price target of $37.50, 20% higher than its current trading price of $30.76. On July 13, analysts at Citigroup reiterated their ‘Buy’ rating on the stock, while raising their price target to $39 from $33. Among the over 700 hedge funds we cover, Seth Klarman‘s Baupost Group held the largest stake in the company, of over 8 million shares of PBF Energy Inc (NYSE:PBF).

Moving on to the fund’s third top new purchase for the quarter, W&T Offshore, Inc. (NYSE:WTI), South Ferry purchased 129,200 shares of the company during the second quarter which were valued at $708,000 as of June 30. Shares of the independent oil and natural gas producer are on a continuous decline, down by 70% since last year and by 40% year-to-date, mostly due to the decline in crude oil prices. W&T Offshore, Inc. (NYSE:WTI) will be reporting its second quarter earnings on August 5 and the consensus among analysts is for the company to report an EPS loss of $0.76, compared to the positive EPS of $0.13 that it reported for the same period last year. Six of the nine brokerages and analysts that cover the stock have a ‘Hold’ rating on it with an average price target of $5.91, 33% above its current trading price of $4.42. Ken Griffin‘s Citadel Investment Group increased its stake in W&T Offshore, Inc. (NYSE:WTI) by 3,919% during the first quarter to over 2.78 million shares.

Disclosure: None