Alon USA Energy Inc. (NYSE:ALJ) shares shot up 4.2% during trading on Monday after Credit Suisse Group AG upgraded the stock from a neutral rating to an outperform rating. The stock traded as high as $8.81 and last traded at $8.71, with a volume of 498,680 shares traded. The stock had previously closed at $8.36.
ALJ has been the subject of several other research reports. Zacks Investment Research lowered shares of Alon USA Energy from a “hold” rating to a “sell” rating in a research note on Wednesday, September 14th. Piper Jaffray Cos. boosted their price objective on shares of Alon USA Energy from $5.00 to $6.00 and gave the stock an “underweight” rating in a research note on Friday, September 16th. Barclays PLC restated an “equal weight” rating and set a $10.00 price target (up previously from $8.00) on shares of Alon USA Energy in a research note on Monday. Wells Fargo & Co. restated a “hold” rating on shares of Alon USA Energy in a research note on Sunday, July 10th. Finally, Citigroup Inc. initiated coverage on shares of Alon USA Energy in a research note on Wednesday, September 14th. They set a “buy” rating and a $10.50 price target on the stock. Three research analysts have rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $9.44.
In related news, insider David Wiessman sold 175,000 shares of the stock in a transaction on Tuesday, August 2nd. The shares were sold at an average price of $6.90, for a total transaction of $1,207,500.00. Following the sale, the insider now directly owns 2,910,541 shares of the company’s stock, valued at $20,082,732.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Michael Oster sold 18,500 shares of the stock in a transaction on Friday, August 5th. The stock was sold at an average price of $7.33, for a total transaction of $135,605.00. Following the sale, the vice president now directly owns 47,553 shares in the company, valued at $348,563.49. The disclosure for this sale can be found here. 8.80% of the stock is currently owned by insiders.
A number of hedge funds have recently made changes to their positions in the company. Van ECK Associates Corp increased its stake in shares of 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 during the period. Janus Capital Management LLC purchased a new stake in shares of Alon USA Energy during the second quarter worth about $150,000. Zacks Investment Management purchased a new stake in shares of Alon USA Energy during the second quarter worth about $160,000. Thompson Siegel & Walmsley LLC purchased a new stake in shares of Alon USA Energy during the second quarter worth about $209,000. Finally, Public Employees Retirement System of Ohio increased its stake in shares of Alon USA Energy by 8.3% in the second quarter. Public Employees Retirement System of Ohio now owns 35,582 shares of the company’s stock worth $231,000 after buying an additional 2,721 shares during the period. 50.46% of the stock is currently owned by hedge funds and other institutional investors.
The stock has a 50 day moving average price of $8.18 and a 200 day moving average price of $8.11. The stock’s market cap is $643.79 million.
Alon USA Energy (NYSE:ALJ) last issued its quarterly earnings results on Thursday, July 28th. The company reported ($0.21) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.19) by $0.02. Alon USA Energy had a negative return on equity of 2.29% and a negative net margin of 1.75%. The firm earned $1.01 billion during the quarter, compared to analysts’ expectations of $883.85 million. During the same quarter in the prior year, the firm earned $0.67 EPS. The firm’s revenue was down 22.5% compared to the same quarter last year. On average, analysts anticipate that Alon USA Energy Inc. will post ($1.08) EPS for the current fiscal year.
About Alon USA Energy
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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