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Billionaire Steven Cohen Boosts Stake In This Refiner Stock

Published on July 19, 2016 at 10:42 am by Insider Monkey Staff in Hedge Funds, News
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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.

Steve Cohen SAC CAPITAL ADVISORS

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
Point7 0 3,476,138 0 3,476,138 3,476,138 4.9%
Point7 0 3,476,138 0 3,476,138 3,476,138 4.9%
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%

Follow Steven A. Cohen's Point72 Asset Management

Page 1 of 11 – SEC Filing

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
 (Amendment No. )*

ALON USA ENERGY, INC.

(Name of Issuer)

Common Stock, Par Value $0.01 Per Share

(Title of Class of Securities)
020520102
(CUSIP Number)
July 14, 2016
(Date of Event which Requires Filing
of this Statement)
Check the appropriate box to designate the rule pursuant to which this Schedule is filed:
☐
Rule 13d-1(b)
☒
Rule 13d-1(c)
☐
Rule 13d-1(d)
*The remainder of this cover page shall be filled out for a reporting person’s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter the disclosures provided in a prior cover page.
The information required on the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 (“Act”) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

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