Alon USA Energy Inc. (NYSE:ALJ) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued on Tuesday.
According to Zacks, “Alon USA Energy, Inc. is an independent refiner and marketer of petroleum products, operating primarily in the Southwestern and South Central regions of the United States. Alon markets gasoline and diesel products under the FINA brand name and is a leading producer of asphalt in the State of Texas. The Company also operates convenience stores in West Texas and New Mexico under the 7-Eleven and FINA brand names and supplies motor fuels to these stores from its Big Spring refinery. “
Other research analysts also recently issued research reports about the stock. Barclays PLC raised shares of Alon USA Energy from an “underweight” rating to an “equal weight” rating and dropped their price objective for the company from $10.00 to $8.00 in a research note on Wednesday, July 13th. JPMorgan Chase & Co. dropped their price objective on shares of Alon USA Energy from $8.00 to $7.00 and set a “neutral” rating for the company in a research note on Friday, June 10th. Credit Suisse Group AG reaffirmed a “hold” rating and set a $9.00 price objective on shares of Alon USA Energy in a research note on Friday, July 29th. Wells Fargo & Co. reaffirmed a “hold” rating on shares of Alon USA Energy in a research note on Sunday, July 10th. Finally, Piper Jaffray Cos. upped their price objective on shares of Alon USA Energy from $4.00 to $5.00 and gave the company an “underweight” rating in a research note on Monday, August 22nd. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and one has issued a buy rating to the company’s stock. Alon USA Energy presently has a consensus rating of “Hold” and a consensus target price of $9.19.
Shares of Alon USA Energy (NYSE:ALJ) opened at 8.40 on Tuesday. The firm’s market cap is $596.23 million. The company has a 50-day moving average of $7.79 and a 200 day moving average of $8.36. Alon USA Energy has a one year low of $5.86 and a one year high of $19.84.
Alon USA Energy (NYSE:ALJ) last posted its quarterly earnings data on Thursday, July 28th. The company reported ($0.21) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.19) by $0.02. Alon USA Energy had a negative net margin of 1.75% and a negative return on equity of 2.29%. The company had revenue of $1.01 billion for the quarter, compared to analyst estimates of $883.85 million. During the same period in the prior year, the company earned $0.67 EPS. The company’s revenue was down 22.5% compared to the same quarter last year. On average, equities research analysts expect that Alon USA Energy will post ($1.10) EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Tuesday, September 6th. Shareholders of record on Friday, August 19th were issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 7.14%. The ex-dividend date of this dividend was Wednesday, August 17th. Alon USA Energy’s dividend payout ratio is presently -61.86%.
In other Alon USA Energy news, VP Michael Oster sold 18,500 shares of the company’s stock in a transaction that occurred on Friday, August 5th. The stock was sold at an average price of $7.33, for a total value of $135,605.00. Following the completion of the transaction, the vice president now owns 47,553 shares in the company, valued at approximately $348,563.49. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider David Wiessman sold 105,000 shares of the company’s stock in a transaction that occurred on Friday, August 26th. The stock was sold at an average price of $7.33, for a total value of $769,650.00. Following the completion of the transaction, the insider now owns 2,580,541 shares of the company’s stock, valued at approximately $18,915,365.53. The disclosure for this sale can be found here. 8.80% of the stock is owned by company insiders.
A number of institutional investors have recently added to or reduced their stakes in ALJ. Van ECK Associates Corp boosted its position in Alon USA Energy by 31.6% in the second quarter. Van ECK Associates Corp now owns 17,965 shares of the company’s stock worth $116,000 after buying an additional 4,313 shares in the last quarter. BlackRock Group LTD boosted its position in Alon USA Energy by 35.7% in the first quarter. BlackRock Group LTD now owns 14,599 shares of the company’s stock worth $150,000 after buying an additional 3,837 shares in the last quarter. Janus Capital Management LLC bought a new position in Alon USA Energy during the second quarter worth $150,000. Zacks Investment Management bought a new position in Alon USA Energy during the second quarter worth $160,000. Finally, Parametrica Management Ltd bought a new position in Alon USA Energy during the first quarter worth $200,000. Hedge funds and other institutional investors own 50.46% of the company’s stock.
Alon USA Energy Company Profile
Alon USA Energy, Inc is an independent refiner and marketer of petroleum products, operating primarily in the South Central, Southwestern and Western regions of the United States. The Company operates through three segments: refining and marketing, asphalt and retail. Its refineries produce petroleum products, including various grades of gasoline, diesel fuel, jet fuel, petrochemicals, petrochemical feedstocks, asphalt and other petroleum-based products.
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