Alon USA Energy Inc. (ALJ) Upgraded at Piper Jaffray Cos.
Alon USA Energy Inc. (NYSE:ALJ) was upgraded by stock analysts at Piper Jaffray Cos. from an “underweight” rating to a “neutral” rating in a note issued to investors on Friday.
A number of other research firms also recently commented on ALJ. Credit Suisse Group AG reiterated a “hold” rating and issued a $9.00 price objective on shares of Alon USA Energy in a report on Friday, July 29th. Zacks Investment Research downgraded Alon USA Energy from a “hold” rating to a “sell” rating in a report on Wednesday, September 14th. Citigroup Inc. started coverage on Alon USA Energy in a report on Wednesday, September 14th. They issued a “buy” rating and a $10.50 price objective on the stock. Finally, Barclays PLC reiterated an “equal weight” rating and issued a $10.00 price objective (up previously from $8.00) on shares of Alon USA Energy in a report on Monday, October 10th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and two have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $9.63.
Alon USA Energy (NYSE:ALJ) opened at 8.99 on Friday. Alon USA Energy has a 12 month low of $5.86 and a 12 month high of $18.08. The stock’s market capitalization is $639.47 million. The company’s 50-day moving average price is $8.19 and its 200 day moving average price is $7.69.
Alon USA Energy (NYSE:ALJ) last issued its quarterly earnings results on Thursday, October 27th. The company reported ($0.09) earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.09). Alon USA Energy had a negative return on equity of 10.24% and a negative net margin of 3.18%. The company had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $859.99 million. During the same quarter in the prior year, the business earned $0.60 EPS. Alon USA Energy’s revenue was down 9.3% on a year-over-year basis. On average, analysts forecast that Alon USA Energy will post ($0.95) earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 23rd. Shareholders of record on Wednesday, December 7th will be given a dividend of $0.15 per share. The ex-dividend date of this dividend is Monday, December 5th. This represents a $0.60 dividend on an annualized basis and a yield of 6.67%. Alon USA Energy’s payout ratio is -35.93%.
In other Alon USA Energy news, insider David Wiessman sold 105,000 shares of the stock in a transaction that occurred on Friday, August 26th. The stock was sold at an average price of $7.33, for a total transaction of $769,650.00. Following the completion of the sale, the insider now directly owns 2,580,541 shares of the company’s stock, valued at approximately $18,915,365.53. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 8.80% of the company’s stock.
A number of hedge funds have recently bought and sold shares of ALJ. First Trust Advisors LP bought a new stake in Alon USA Energy during the second quarter worth $1,064,000. California Public Employees Retirement System boosted its stake in Alon USA Energy by 17.7% in the second quarter. California Public Employees Retirement System now owns 109,500 shares of the company’s stock worth $710,000 after buying an additional 16,500 shares during the last quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp bought a new stake in Alon USA Energy during the second quarter worth $235,000. Emerald Acquisition Ltd. bought a new stake in Alon USA Energy during the second quarter worth $834,000. Finally, Quantitative Investment Management LLC boosted its stake in Alon USA Energy by 69.8% in the second quarter. Quantitative Investment Management LLC now owns 37,700 shares of the company’s stock worth $244,000 after buying an additional 15,500 shares during the last quarter. 50.62% of the stock is owned by institutional investors.
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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