Citigroup Inc. Begins Coverage on Alon USA Energy Inc. (ALJ)
Several other brokerages also recently weighed in on ALJ. Zacks Investment Research raised shares of Alon USA Energy from a sell rating to a hold rating in a report on Tuesday, July 5th. Piper Jaffray Cos. upped their target price on shares of Alon USA Energy from $4.00 to $5.00 and gave the stock an underweight rating in a report on Monday, August 22nd. Barclays PLC raised shares of Alon USA Energy from an underweight rating to an equal weight rating and dropped their target price for the stock from $10.00 to $8.00 in a report on Wednesday, July 13th. Wells Fargo & Co. reaffirmed a hold rating on shares of Alon USA Energy in a report on Sunday, July 10th. Finally, JPMorgan Chase & Co. dropped their target price on shares of Alon USA Energy from $8.00 to $7.00 and set a neutral rating for the company in a report on Friday, June 10th. 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. The company currently has a consensus rating of Hold and a consensus price target of $9.19.
Alon USA Energy (NYSE:ALJ) opened at 8.64 on Wednesday. The stock has a 50 day moving average price of $7.69 and a 200 day moving average price of $8.38. Alon USA Energy has a 12-month low of $5.86 and a 12-month high of $19.84. The stock’s market cap is $613.27 million.
Alon USA Energy (NYSE:ALJ) last issued its quarterly earnings data 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 net margin of 1.75% and a negative return on equity of 2.29%. The business had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $883.85 million. During the same period in the previous year, the firm earned $0.67 EPS. The company’s revenue was down 22.5% on a year-over-year basis. On average, analysts forecast that Alon USA Energy will post ($1.10) earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 6th. Shareholders of record on Friday, August 19th were issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 6.94%. The ex-dividend date was Wednesday, August 17th. Alon USA Energy’s dividend payout ratio (DPR) is presently -61.86%.
In other news, insider David Wiessman sold 175,000 shares of the company’s stock in a transaction dated 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 in the company, valued at approximately $20,082,732.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Michael Oster sold 18,500 shares of the company’s stock in a transaction dated 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 owns 47,553 shares in the company, valued at $348,563.49. The disclosure for this sale can be found here. Company insiders own 8.80% of the company’s stock.
Hedge funds have recently made changes to their positions in the stock. Van ECK Associates Corp boosted 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 valued at $116,000 after buying an additional 4,313 shares in the last quarter. BlackRock Group LTD boosted its stake 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 valued at $150,000 after buying an additional 3,837 shares in the last quarter. Janus Capital Management LLC acquired a new stake in shares of Alon USA Energy during the second quarter valued at about $150,000. Zacks Investment Management acquired a new stake in shares of Alon USA Energy during the second quarter valued at about $160,000. Finally, Parametrica Management Ltd acquired a new stake in shares of Alon USA Energy during the first quarter valued at about $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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