Alon USA Energy Inc. (ALJ) PT Raised to $6.00
Alon USA Energy Inc. (NYSE:ALJ) had its price target lifted by Piper Jaffray Cos. from $5.00 to $6.00 in a report issued on Friday. The brokerage presently has an “underweight” rating on the stock. Piper Jaffray Cos.’s price objective suggests a potential downside of 30.56% from the stock’s current price.
ALJ has been the subject of a number of other research reports. Citigroup Inc. started coverage on Alon USA Energy in a research report on Wednesday, September 14th. They set a “buy” rating and a $10.50 target price for the company. Wells Fargo & Co. reaffirmed a “hold” rating on shares of Alon USA Energy in a research report on Sunday, July 10th. Credit Suisse Group AG reaffirmed a “hold” rating and set a $9.00 target price on shares of Alon USA Energy in a research report on Friday, July 29th. Zacks Investment Research raised Alon USA Energy from a “sell” rating to a “hold” rating in a research report on Tuesday, July 5th. Finally, JPMorgan Chase & Co. decreased their target price on Alon USA Energy from $8.00 to $7.00 and set a “neutral” rating for the company in a research report on Friday, June 10th. Three analysts have rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the company. Alon USA Energy currently has a consensus rating of “Hold” and a consensus target price of $9.19.
Alon USA Energy (NYSE:ALJ) opened at 8.64 on Friday. Alon USA Energy has a one year low of $5.86 and a one year high of $19.84. The stock’s 50 day moving average is $7.69 and its 200 day moving average is $8.38. The firm’s market cap is $613.27 million.
Alon USA Energy (NYSE:ALJ) last announced its 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. The company had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $883.85 million. Alon USA Energy had a negative return on equity of 2.29% and a negative net margin of 1.75%. The firm’s revenue for the quarter was down 22.5% compared to the same quarter last year. During the same period in the previous year, the company earned $0.67 EPS. On average, equities research analysts expect that Alon USA Energy will post ($1.10) earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 6th. Stockholders of record on Friday, August 19th were issued a dividend of $0.15 per share. The ex-dividend date of this dividend was Wednesday, August 17th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 6.94%. Alon USA Energy’s dividend payout ratio (DPR) is presently -61.86%.
In other 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 transaction of $135,605.00. Following the completion of the transaction, the vice president now directly owns 47,553 shares in the company, valued at $348,563.49. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider David Wiessman sold 175,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 2nd. The stock was sold at an average price of $6.90, for a total value of $1,207,500.00. Following the transaction, the insider now owns 2,910,541 shares of the company’s stock, valued at $20,082,732.90. The disclosure for this sale can be found here. Insiders own 8.80% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Van ECK Associates Corp raised its position 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. BlackRock Group LTD raised its position in shares of 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 during the period. Janus Capital Management LLC acquired a new position in shares of Alon USA Energy during the second quarter worth approximately $150,000. Zacks Investment Management acquired a new position in shares of Alon USA Energy during the second quarter worth approximately $160,000. Finally, Parametrica Management Ltd acquired a new position in shares of Alon USA Energy during the first quarter worth approximately $200,000. 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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