Alon USA Energy Inc. (ALJ) Downgraded by Zacks Investment Research to “Sell”
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. “
Other equities research analysts have also recently issued research reports about the company. Barclays PLC upgraded Alon USA Energy from an underweight rating to an equal weight rating and reduced their price objective for the company from $10.00 to $8.00 in a research note on Wednesday, July 13th. JPMorgan Chase & Co. reduced their price objective on Alon USA Energy from $8.00 to $7.00 and set a neutral rating for the company in a research note on Friday, June 10th. 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. Wells Fargo & Co. reiterated a hold rating on shares of Alon USA Energy in a research note on Sunday, July 10th. Finally, Piper Jaffray Cos. boosted their price objective on Alon USA Energy from $4.00 to $5.00 and gave the company an underweight rating in a research note on Monday, August 22nd. Three research analysts have rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the company. Alon USA Energy has a consensus rating of Hold and a consensus target price of $9.19.
Shares of Alon USA Energy (NYSE:ALJ) traded up 1.474% on Tuesday, hitting $8.605. The stock had a trading volume of 302,375 shares. The firm has a 50 day moving average of $8.01 and a 200 day moving average of $8.17. The stock’s market cap is $610.78 million. Alon USA Energy has a 12 month low of $5.86 and a 12 month high of $19.84.
Alon USA Energy (NYSE:ALJ) last posted its earnings results on Thursday, July 28th. The company reported ($0.21) earnings per share for the quarter, missing the consensus estimate of ($0.19) by $0.02. The business had revenue of $1.01 billion for the quarter, compared to analysts’ expectations of $883.85 million. Alon USA Energy had a negative return on equity of 2.29% and a negative net margin of 1.75%. Alon USA Energy’s revenue for the quarter was down 22.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.67 EPS. On average, equities analysts forecast that Alon USA Energy will post ($1.11) earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, September 6th. Shareholders of record on Friday, August 19th were given 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 yield of 7.08%. Alon USA Energy’s payout ratio is -61.86%.
In other news, VP Michael Oster sold 18,500 shares of the company’s stock in a transaction on Friday, August 5th. The stock was sold at an average price of $7.33, for a total value 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider David Wiessman sold 105,000 shares of the company’s stock in a transaction on Friday, August 26th. The shares were sold at an average price of $7.33, for a total value of $769,650.00. Following the completion of the sale, the insider now owns 2,580,541 shares in the company, valued at $18,915,365.53. The disclosure for this sale can be found here. Company insiders own 8.80% of the company’s stock.
Several hedge funds have recently modified their holdings of ALJ. Nomura Holdings Inc. increased its stake in shares of Alon USA Energy by 317.2% in the second quarter. Nomura Holdings Inc. now owns 106,109 shares of the company’s stock valued at $687,000 after buying an additional 80,676 shares in the last quarter. 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 valued at $231,000 after buying an additional 2,721 shares in the last quarter. Point72 Asset Management L.P. increased its stake in shares of Alon USA Energy by 67.2% in the second quarter. Point72 Asset Management L.P. now owns 1,876,200 shares of the company’s stock valued at $12,158,000 after buying an additional 753,800 shares in the last quarter. EverPoint Asset Management LLC bought a new stake in shares of Alon USA Energy during the second quarter valued at about $1,620,000. Finally, A.R.T. Advisors LLC bought a new stake in shares of Alon USA Energy during the second quarter valued at about $2,289,000. Institutional investors and hedge funds 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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