Goldman Sachs Group Inc. Decreases Stake in Alon USA Partners, LP (ALDW)
Goldman Sachs Group Inc. reduced its stake in Alon USA Partners, LP (NYSE:ALDW) by 76.4% during the first quarter, according to its most recent filing with the SEC. The fund owned 84,656 shares of the oil and gas company’s stock after selling 273,572 shares during the period. Goldman Sachs Group Inc.’s holdings in Alon USA Partners, were worth $775,000 as of its most recent SEC filing.
A number of other large investors have also modified their holdings of the company. Nine Chapters Capital Management LLC bought a new stake in Alon USA Partners, during the first quarter valued at about $321,000. Renaissance Technologies LLC increased its stake in Alon USA Partners, by 572.8% in the fourth quarter. Renaissance Technologies LLC now owns 129,183 shares of the oil and gas company’s stock valued at $1,240,000 after buying an additional 109,983 shares during the last quarter. Bank of New York Mellon Corp increased its stake in Alon USA Partners, by 0.6% in the first quarter. Bank of New York Mellon Corp now owns 271,529 shares of the oil and gas company’s stock valued at $2,487,000 after buying an additional 1,528 shares during the last quarter. HITE Hedge Asset Management LLC bought a new stake in Alon USA Partners, during the first quarter valued at about $2,523,000. Finally, FMR LLC increased its stake in Alon USA Partners, by 13.6% in the first quarter. FMR LLC now owns 501,471 shares of the oil and gas company’s stock valued at $4,593,000 after buying an additional 59,900 shares during the last quarter. Hedge funds and other institutional investors own 6.95% of the company’s stock.
Shares of Alon USA Partners, LP (NYSE:ALDW) traded down 0.86% during midday trading on Wednesday, hitting $10.34. The company had a trading volume of 49,603 shares. Alon USA Partners, LP has a 12-month low of $7.63 and a 12-month high of $12.72. The firm’s 50-day moving average is $11.17 and its 200-day moving average is $10.28. The firm has a market capitalization of $646.55 million, a P/E ratio of 14.44 and a beta of 1.06.
Alon USA Partners, (NYSE:ALDW) last posted its quarterly earnings data on Thursday, July 27th. The oil and gas company reported $0.35 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.42 by $0.07. The firm had revenue of $521.75 million for the quarter, compared to the consensus estimate of $436.80 million. Alon USA Partners, had a return on equity of 40.06% and a net margin of 2.20%. During the same quarter in the previous year, the business posted $0.02 earnings per share. On average, analysts predict that Alon USA Partners, LP will post $1.13 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, August 24th. Shareholders of record on Thursday, August 17th will be paid a $0.35 dividend. The ex-dividend date of this dividend is Tuesday, August 15th. This represents a $1.40 dividend on an annualized basis and a yield of 13.42%. Alon USA Partners,’s dividend payout ratio is 214.09%.
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ALDW has been the topic of several recent analyst reports. TheStreet upgraded Alon USA Partners, from a “c” rating to a “b-” rating in a report on Friday, July 28th. Citigroup Inc. restated a “buy” rating and set a $12.00 price objective (down previously from $13.50) on shares of Alon USA Partners, in a report on Saturday, April 22nd. Barclays PLC reaffirmed an “equal weight” rating and set a $12.00 target price on shares of Alon USA Partners, in a research note on Wednesday, July 5th. BidaskClub raised Alon USA Partners, from a “sell” rating to a “hold” rating in a research note on Tuesday, August 8th. Finally, Tudor Pickering reaffirmed a “hold” rating on shares of Alon USA Partners, in a research note on Thursday, July 13th. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Alon USA Partners, presently has an average rating of “Buy” and an average price target of $11.70.
Alon USA Partners, Company Profile
Alon USA Partners, LP (Alon) is engaged principally in the business of operating a crude oil refinery in Big Spring, Texas. The Company had a crude oil throughput capacity of 73,000 barrels per day, which the Company referred to as its Big Spring refinery, as of December 31, 2016. The Company refines crude oil into finished products, which the Company markets primarily in Central and West Texas, Oklahoma, New Mexico and Arizona through its integrated wholesale distribution network to retail convenience stores and other third-party distributors.
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