Hedge Funds Aggressively Increase Short Positions on U.S. Stocks
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 4 days ago
0mins
Source: seekingalpha
- Record Short Positions: Hedge funds have ramped up short positions on U.S. stocks to the highest level since 2016, as reported by Goldman Sachs, driven by fears of AI disruption and four consecutive weeks of heavy net equity selling, indicating extreme caution among investors.
- Mid-Cap Short Interest: The list of mid-cap stocks with short interest ranging from 15.8% to 25.3% is topped by PBF Energy Inc. (PBF) and Sphere Entertainment Co. (SPHR), both rated as Strong Buy with scores of 4.85 and 4.75, respectively, highlighting potential investment opportunities in these sectors.
- Rating System Analysis: Seeking Alpha's Quant Ratings assess stocks based on critical metrics such as valuation, growth, stock momentum, and profitability, with scores ranging from 1 to 5, where ratings above 3.5 are considered bullish and below 2.5 bearish, reflecting market confidence in these stocks.
- Diverse Industry Coverage: The list spans various sectors including energy, entertainment, semiconductors, biotechnology, and airlines, showcasing investors' strategy of diversification, particularly in seeking potential returns amid high short interest levels in the current market environment.
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Analyst Views on PBF
Wall Street analysts forecast PBF stock price to fall
9 Analyst Rating
2 Buy
5 Hold
2 Sell
Hold
Current: 33.670
Low
23.00
Averages
32.22
High
42.00
Current: 33.670
Low
23.00
Averages
32.22
High
42.00
About PBF
PBF Energy Inc. is an independent refiner in North America, operating, through its subsidiaries, oil refineries and related facilities in California, Delaware, Louisiana, New Jersey and Ohio. The Company operates as a refiner and supplier of unbranded transportation fuels, heating oil, petrochemical feedstocks, lubricants, and other petroleum products. It operates through two segments: Refining and Logistics. The Refining segment includes the operations of its oil refineries and related facilities in Delaware City, Delaware, Paulsboro, New Jersey, Toledo, Ohio, Chalmette, Louisiana, Torrance, California and Martinez, California. The Logistics segment includes the operations of PBF Logistics LP, an indirect wholly owned subsidiary of PBF Energy and PBF LLC, which owns or leases, operates, develops, and acquires crude oil and refined petroleum products terminals, pipelines, storage facilities, and similar logistics assets.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
PBF Energy Q4 Earnings: Martinez Refinery Restart Imminent
- Martinez Refinery Restart: CEO Matthew Lucey confirmed that the Martinez refinery rebuild will be completed this weekend, with full operations expected by early March, positioning PBF to supply fuels in the tight California market and enhancing competitive advantage.
- Strong Financial Performance: The company reported adjusted net income of $0.49 per share and adjusted EBITDA of $258 million for Q4, indicating significant improvement over prior quarters, reflecting benefits from enhanced crude differentials in its complex refining system.
- Cost Savings Initiative: PBF achieved $230 million in efficiencies for 2025 and aims for $350 million in annualized savings by the end of 2026, which will help offset future capital expenditures and enhance financial flexibility.
- Optimistic Market Outlook: Management expressed a favorable outlook for 2026, anticipating tight refining balances and demand growth, particularly with increased supply from Venezuela, positioning PBF favorably within the improving market dynamics.
See More
PBF Energy Reports Surprise Profit in Q4 Amid Supply Disruptions
- Surprise Profit: PBF Energy reported an adjusted profit of $0.49 per share in Q4, surpassing estimates of a $0.10 loss, indicating a significant rebound in refining margins due to supply disruptions from the Russia-Ukraine war and improved crude price differentials.
- Refining Margin Recovery: The U.S. refining sector experienced a sharp recovery in Q4, with the 3-2-1 crack spread benchmark rebounding from multi-year lows earlier in 2024, driven by tighter global fuel supplies and seasonal demand increases, which bolstered profitability.
- Increased Throughput: PBF's crude oil and feedstocks throughput rose to 888,900 barrels per day in the reported quarter, up from 862,000 barrels per day a year earlier, reflecting the company's ability to capitalize on market recovery opportunities.
- New Refinery Construction Update: PBF expects the construction of its Martinez refinery in California to be completed by February 16, 2026, with the catalytic cracking unit anticipated to start in the first week of March, further enhancing the company's production capacity and competitive position in the market.
See More
PBF Energy Declares Quarterly Dividend of $0.275 per Share
- Quarterly Dividend Announcement: PBF Energy has declared a quarterly dividend of $0.275 per share, consistent with previous distributions, indicating the company's stability and commitment to shareholder returns in the current market environment.
- Dividend Yield: The forward yield of 3.08% offers investors a relatively attractive return, reflecting the company's dedication to shareholder value amidst fluctuating market conditions.
- Payment Schedule: The dividend is payable on March 11, with a record date of February 25 and an ex-dividend date also set for February 25, ensuring shareholders receive their returns promptly.
- Financial Performance Exceeds Expectations: PBF Energy reported a non-GAAP EPS of $0.66, beating expectations by $0.77, while revenue reached $7.14 billion, exceeding forecasts by $60 million, showcasing the company's resilience and profitability even in challenging circumstances.
See More
PBF Energy Q4 Earnings Exceed Expectations
- Earnings Beat: PBF Energy reported a Q4 non-GAAP EPS of $0.66, surpassing expectations by $0.77, indicating strong profitability despite revenue challenges.
- Revenue Decline: The company recorded Q4 revenue of $7.14 billion, a 2.9% year-over-year decrease, yet it exceeded market expectations by $60 million, demonstrating resilience in a tough market environment.
- Cash and Debt Position: At year-end, PBF Energy had approximately $530 million in cash and $1.62 billion in net debt, reflecting robust liquidity management that supports future investments and operations.
- Dividend Payments: In 2025, the company paid approximately $126 million in dividends, showcasing its commitment to shareholders despite operational losses, maintaining a level of dividend distribution capability.
See More
PBF Energy Reports Q4 Earnings Exceeding Expectations
- Net Income Performance: PBF Energy reported a fourth-quarter net income of $78.4 million, translating to earnings of 66 cents per share, which exceeded Wall Street expectations and indicates strong market performance.
- Adjusted Earnings: The adjusted earnings per share stood at 49 cents, significantly surpassing analysts' expectations of a 15-cent loss per share, demonstrating notable progress in cost control and operational efficiency.
- Revenue Growth: The company achieved fourth-quarter revenue of $7.14 billion, exceeding analyst forecasts of $6.98 billion, reflecting robust demand in the refining sector and an improving market environment.
- Annual Performance Overview: Despite reporting an annual loss of $158.5 million, or $1.39 per share, total revenue reached $29.33 billion, indicating that the company maintained a high revenue level even in challenging circumstances.
See More
PBF Energy Reports Significant Q4 2025 Earnings Recovery
- Revenue Recovery: PBF Energy reported fourth quarter 2025 income from operations of $128 million, a significant turnaround from a loss of $383.2 million in Q4 2024, indicating strong performance in a recovering market that is likely to boost investor confidence.
- Net Income Positive: The company posted a net income of $79.1 million for Q4 2025, translating to earnings per share of $0.66, a stark contrast to the net loss of $292.6 million and loss per share of $2.54 in Q4 2024, reflecting a substantial improvement in profitability.
- Insurance Recoveries Support: In Q4 2025, PBF received a net insurance benefit of $21 million primarily related to the recovery from the Martinez refinery fire, which is expected to further alleviate financial pressures and expedite the restoration process.
- Positive Future Outlook: PBF anticipates achieving $350 million in cost improvements in 2026, and with the full restoration of the Martinez refinery, the company's operational efficiency and market competitiveness are set to significantly enhance, supporting future growth.
See More
PBF Energy Q4 Earnings: Martinez Refinery Restart Imminent
- Martinez Refinery Restart: CEO Matthew Lucey confirmed that the Martinez refinery rebuild will be completed this weekend, with full operations expected by early March, positioning PBF to supply fuels in the tight California market and enhancing competitive advantage.
- Strong Financial Performance: The company reported adjusted net income of $0.49 per share and adjusted EBITDA of $258 million for Q4, indicating significant improvement over prior quarters, reflecting benefits from enhanced crude differentials in its complex refining system.
- Cost Savings Initiative: PBF achieved $230 million in efficiencies for 2025 and aims for $350 million in annualized savings by the end of 2026, which will help offset future capital expenditures and enhance financial flexibility.
- Optimistic Market Outlook: Management expressed a favorable outlook for 2026, anticipating tight refining balances and demand growth, particularly with increased supply from Venezuela, positioning PBF favorably within the improving market dynamics.
See More
PBF Energy Reports Surprise Profit in Q4 Amid Supply Disruptions
- Surprise Profit: PBF Energy reported an adjusted profit of $0.49 per share in Q4, surpassing estimates of a $0.10 loss, indicating a significant rebound in refining margins due to supply disruptions from the Russia-Ukraine war and improved crude price differentials.
- Refining Margin Recovery: The U.S. refining sector experienced a sharp recovery in Q4, with the 3-2-1 crack spread benchmark rebounding from multi-year lows earlier in 2024, driven by tighter global fuel supplies and seasonal demand increases, which bolstered profitability.
- Increased Throughput: PBF's crude oil and feedstocks throughput rose to 888,900 barrels per day in the reported quarter, up from 862,000 barrels per day a year earlier, reflecting the company's ability to capitalize on market recovery opportunities.
- New Refinery Construction Update: PBF expects the construction of its Martinez refinery in California to be completed by February 16, 2026, with the catalytic cracking unit anticipated to start in the first week of March, further enhancing the company's production capacity and competitive position in the market.
See More
PBF Energy Declares Quarterly Dividend of $0.275 per Share
- Quarterly Dividend Announcement: PBF Energy has declared a quarterly dividend of $0.275 per share, consistent with previous distributions, indicating the company's stability and commitment to shareholder returns in the current market environment.
- Dividend Yield: The forward yield of 3.08% offers investors a relatively attractive return, reflecting the company's dedication to shareholder value amidst fluctuating market conditions.
- Payment Schedule: The dividend is payable on March 11, with a record date of February 25 and an ex-dividend date also set for February 25, ensuring shareholders receive their returns promptly.
- Financial Performance Exceeds Expectations: PBF Energy reported a non-GAAP EPS of $0.66, beating expectations by $0.77, while revenue reached $7.14 billion, exceeding forecasts by $60 million, showcasing the company's resilience and profitability even in challenging circumstances.
See More
PBF Energy Q4 Earnings Exceed Expectations
- Earnings Beat: PBF Energy reported a Q4 non-GAAP EPS of $0.66, surpassing expectations by $0.77, indicating strong profitability despite revenue challenges.
- Revenue Decline: The company recorded Q4 revenue of $7.14 billion, a 2.9% year-over-year decrease, yet it exceeded market expectations by $60 million, demonstrating resilience in a tough market environment.
- Cash and Debt Position: At year-end, PBF Energy had approximately $530 million in cash and $1.62 billion in net debt, reflecting robust liquidity management that supports future investments and operations.
- Dividend Payments: In 2025, the company paid approximately $126 million in dividends, showcasing its commitment to shareholders despite operational losses, maintaining a level of dividend distribution capability.
See More
PBF Energy Reports Q4 Earnings Exceeding Expectations
- Net Income Performance: PBF Energy reported a fourth-quarter net income of $78.4 million, translating to earnings of 66 cents per share, which exceeded Wall Street expectations and indicates strong market performance.
- Adjusted Earnings: The adjusted earnings per share stood at 49 cents, significantly surpassing analysts' expectations of a 15-cent loss per share, demonstrating notable progress in cost control and operational efficiency.
- Revenue Growth: The company achieved fourth-quarter revenue of $7.14 billion, exceeding analyst forecasts of $6.98 billion, reflecting robust demand in the refining sector and an improving market environment.
- Annual Performance Overview: Despite reporting an annual loss of $158.5 million, or $1.39 per share, total revenue reached $29.33 billion, indicating that the company maintained a high revenue level even in challenging circumstances.
See More
PBF Energy Reports Significant Q4 2025 Earnings Recovery
- Revenue Recovery: PBF Energy reported fourth quarter 2025 income from operations of $128 million, a significant turnaround from a loss of $383.2 million in Q4 2024, indicating strong performance in a recovering market that is likely to boost investor confidence.
- Net Income Positive: The company posted a net income of $79.1 million for Q4 2025, translating to earnings per share of $0.66, a stark contrast to the net loss of $292.6 million and loss per share of $2.54 in Q4 2024, reflecting a substantial improvement in profitability.
- Insurance Recoveries Support: In Q4 2025, PBF received a net insurance benefit of $21 million primarily related to the recovery from the Martinez refinery fire, which is expected to further alleviate financial pressures and expedite the restoration process.
- Positive Future Outlook: PBF anticipates achieving $350 million in cost improvements in 2026, and with the full restoration of the Martinez refinery, the company's operational efficiency and market competitiveness are set to significantly enhance, supporting future growth.
See More
