Alon USA Energy Inc. (NYSE:ALJ) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” 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. “
A number of other research firms have also weighed in on ALJ. JPMorgan Chase & Co. cut their price objective on shares of Alon USA Energy from $8.00 to $7.00 and set a “neutral” rating on the stock in a research note on Friday, June 10th. Wells Fargo & Co. reiterated a “hold” rating on shares of Alon USA Energy in a research note on Sunday, July 10th. Barclays PLC upgraded shares of Alon USA Energy from an “underweight” rating to an “equal weight” rating and cut their price objective for the stock from $10.00 to $8.00 in a research note on Wednesday, July 13th. Credit Suisse Group AG reiterated a “hold” rating and issued a $9.00 price objective on shares of Alon USA Energy in a research note on Friday, July 29th. Finally, Piper Jaffray Cos. increased their price objective on shares of Alon USA Energy from $4.00 to $5.00 and gave the stock an “underweight” rating in a research note on Monday, August 22nd. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the company’s stock. Alon USA Energy has a consensus rating of “Hold” and a consensus price target of $9.19.
Shares of Alon USA Energy (NYSE:ALJ) traded up 3.92% during mid-day trading on Tuesday, reaching $8.48. 1,403,049 shares of the company’s stock were exchanged. The company’s 50 day moving average is $7.98 and its 200 day moving average is $8.19. Alon USA Energy has a 1-year low of $5.86 and a 1-year high of $19.84. The stock’s market capitalization is $601.91 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 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 quarter in the previous year, the company posted $0.67 EPS. The company’s revenue for the quarter was down 22.5% compared to the same quarter last year. Equities research analysts anticipate that Alon USA Energy will post ($1.11) EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, September 6th. Investors of record on Friday, August 19th were issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 7.35%. The ex-dividend date of this dividend was Wednesday, August 17th. Alon USA Energy’s dividend payout ratio (DPR) is presently -61.86%.
In related news, VP Michael Oster sold 18,500 shares of the stock in a transaction on Friday, August 5th. The shares were 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 of the company’s stock, valued at $348,563.49. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider David Wiessman sold 175,000 shares of the stock in a transaction on Tuesday, August 2nd. The stock was 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 in the company, valued at $20,082,732.90. The disclosure for this sale can be found here. Corporate insiders own 8.80% of the company’s stock.
A number of hedge funds have recently made changes to their positions in the company. Strs Ohio increased its position in Alon USA Energy by 49.6% in the second quarter. Strs Ohio now owns 93,200 shares of the company’s stock valued at $603,000 after buying an additional 30,900 shares during the last quarter. Bank of Montreal Can bought a new position in Alon USA Energy during the second quarter valued at about $2,337,000. Adams Asset Advisors LLC increased its position in Alon USA Energy by 176.1% in the second quarter. Adams Asset Advisors LLC now owns 102,444 shares of the company’s stock valued at $663,000 after buying an additional 65,343 shares during the last quarter. Fisher Asset Management LLC increased its position in Alon USA Energy by 64.3% in the second quarter. Fisher Asset Management LLC now owns 165,400 shares of the company’s stock valued at $1,025,000 after buying an additional 64,700 shares during the last quarter. Finally, BNP Paribas Arbitrage SA increased its position in Alon USA Energy by 6,964.6% in the second quarter. BNP Paribas Arbitrage SA now owns 56,729 shares of the company’s stock valued at $368,000 after buying an additional 55,926 shares during the last quarter. 50.46% of the stock is currently owned by hedge funds and other institutional investors.
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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