Alon USA Energy Inc. (ALJ) Upgraded by Zacks Investment Research to “Hold”
Alon USA Energy Inc. (NYSE:ALJ) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report issued on Wednesday.
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. “
Several other research firms also recently weighed in on ALJ. Credit Suisse Group AG raised shares of Alon USA Energy from a “neutral” rating to an “outperform” rating and upped their price objective for the stock from $7.00 to $10.50 in a report on Tuesday. Piper Jaffray Cos. upped their price objective on shares of Alon USA Energy from $5.00 to $6.00 and gave the stock an “underweight” rating in a report on Friday, September 16th. Barclays PLC reiterated an “equal weight” rating and issued a $10.00 price target (up from $8.00) on shares of Alon USA Energy in a research report on Monday. Citigroup Inc. assumed coverage on shares of Alon USA Energy in a research report on Wednesday, September 14th. They issued a “buy” rating and a $10.50 price target on the stock. Finally, Wells Fargo & Co. reiterated a “hold” rating on shares of Alon USA Energy in a research report on Sunday, July 10th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the company’s stock. Alon USA Energy has a consensus rating of “Hold” and a consensus target price of $9.63.
Alon USA Energy (NYSE:ALJ) traded down 1.65% during midday trading on Wednesday, hitting $8.92. 791,877 shares of the company traded hands. Alon USA Energy has a 12-month low of $5.86 and a 12-month high of $18.27. The company’s market cap is $633.14 million. The stock has a 50 day moving average price of $8.18 and a 200-day moving average price of $8.11.
Alon USA Energy (NYSE:ALJ) last posted its quarterly earnings data 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 company earned $1.01 billion during the quarter, compared to analyst estimates 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 business’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. Analysts expect that Alon USA Energy will post ($1.08) EPS for the current year.
In other Alon USA Energy news, VP Michael Oster sold 18,500 shares of the business’s stock in a transaction dated Friday, August 5th. The stock was 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 approximately $348,563.49. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider David Wiessman sold 175,000 shares of the business’s stock in a transaction dated 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 sale, the insider now owns 2,910,541 shares in the company, valued at approximately $20,082,732.90. The disclosure for this sale can be found here. Company insiders own 8.80% of the company’s stock.
A number of hedge funds have recently bought and sold shares of ALJ. Van ECK Associates Corp increased 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 in the last quarter. Janus Capital Management LLC acquired a new position in shares of Alon USA Energy during the second quarter worth $150,000. Zacks Investment Management acquired a new position in shares of Alon USA Energy during the second quarter worth $160,000. Thompson Siegel & Walmsley LLC acquired a new position in shares of Alon USA Energy during the second quarter worth $209,000. Finally, Public Employees Retirement System of Ohio increased its position 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 worth $231,000 after buying an additional 2,721 shares in the last quarter. 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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