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Integrated Energy and Refiner Stocks with High Short Interest

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CVR Energy

As of July 28, 2016, CVR Energy (CVI) has the highest short interest–to–equity float ratio among integrated energy and refiner stocks. Its ratio is 29.0%. One month ago, it was 21.0%, and three months ago, it was 21.7%. Its net debt-to-EBITDA (earnings before interest, tax, depreciation, and amortization) ratio is -0.14x, since it has cash in excess of debt. Its cash and cash equivalents were $681.8 million in 1Q16. In the last three months, the stock has fallen 41.4%—the most among integrated energy and refiner stocks.

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Other integrated energy companies and refiner stocks

Western Refining’s (WNR) short interest-to-equity float ratio is 16.6%. One month ago, it was 20.7%. Three months ago, it was 15.5%. Its net debt-to-EBITDA ratio is 0.74x. Its cash and cash equivalents were $593.1 million in 1Q16. In the last three months, the stock has returned -23.5%.

Alon USA Energy’s (ALJ) short interest-to-equity float ratio is 20.2%. One month ago, it was 23.1%. Three months ago, it was 26.0%.

Alon USA Energy’s short interest-to-equity float ratio has been in a downtrend for the last three months. During this period, the stock has fallen 37.4%. The company’s net debt-to-EBITDA ratio is 0.85x. Its cash and cash equivalents were $234.1 million, as of 1Q16.

Delek US Holdings’ (DK) short interest-to-equity float ratio is 10.9%. One month ago, it was 8.4%. Three months ago, it was 6.2%. Its net debt-to-EBITDA ratio is 2.9x. Its cash and cash equivalents were $349.9 million in 1Q16. In the last three months, the stock has fallen 24.6%—the least among the five integrated energy companies and refiners with the highest short interest.

Currently, HollyFrontier’s (HFC) short interest-to-equity float ratio is 8.1%. One month ago, it was 7.4%. Three months ago, it was 5.6%. In the last three months, the stock has fallen 30.8%. Its net debt-to-EBITDA ratio was 0.52x in 1Q16. Its cash and cash equivalents were $111.0 million.

Tesoro (TSO) and Calumet Specialty Products Partners (CLMT) have short interest-to-equity float ratios of 5.4% and 3.3%, respectively.

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