CATALYST DOSSIER · UPDATED 2026-11-05
$PBF
energy · convergence -30 · conviction AVOID
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Why $PBF?
Quantitative
Net Income (CY2026Q2) : $906.4M (n/a YoY)
Catalysts
Multi-spoke convergence : 6 convergent signals fired: xbrl_ni, split, fed_overlay, auto_macro_adp_payrolls, auto_macro_durable_goods
Risks
Auditor change / restatement : non_reliance on
Bear case
Multiple compression : If breadth deteriorates, energy-wide multiples re-rate lower regardless of pick-specific thesis
Sympathy basket (cerebro)
HYFM via consumer r=-0.89 divergent (score 8)
LCII via consumer r=-0.89 divergent (score 8)
VCTR via financials r=-0.81 divergent (score 19)
FCPT via financials r=-0.81 divergent (score 15)
LBTYA via comms r=-0.81 divergent (score 16)
CHTR via comms r=-0.81 divergent (score 7)
Signals Firing
xbrl_ni split fed_overlay auto_macro_adp_payrolls auto_macro_durable_goods auto_macro_fx_rates
Pick Track Record Date List Next-day max run Next-day close Hit +2%? 2026-10-14 sec_clean_gappers -1.7% -2.8% — 2026-10-14 sec_top_gappers -1.7% -2.8% — 2026-10-14 sec_top_moat_emerging -1.7% -2.8% — 2026-09-17 sec_top_gappers +1.7% +0.0% — 2026-09-17 sec_top_moat_emerging +1.7% +0.0% — 2026-09-15 sec_top_gappers +3.3% +1.6% ✓ hit 2026-09-15 sec_top_moat_emerging +3.3% +1.6% ✓ hit 2026-09-14 sec_top_gappers +7.9% +6.1% ✓ hit 2026-09-14 sec_top_moat_emerging +7.9% +6.1% ✓ hit
Lifetime: 4/9 wins · hit-rate 44.4% on +2% intraday
Sympathy Basket HYFM via consumer · score 8 LCII via consumer · score 8 VCTR via financials · score 19 FCPT via financials · score 15 LBTYA via comms · score 16 CHTR via comms · score 7
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