Alon USA Partners LP (ALDW) Posts Earnings Results, Beats Expectations By $0.22 EPS
Alon USA Partners LP (NYSE:ALDW) issued its quarterly earnings data on Monday. The oil and gas company reported $0.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.10 by $0.22. Alon USA Partners had a net margin of 0.11% and a return on equity of 1.64%. The business had revenue of $544.50 million during the quarter, compared to analyst estimates of $427.82 million. During the same quarter last year, the business earned ($0.14) EPS. The firm’s quarterly revenue was up 48.0% on a year-over-year basis.
Shares of Alon USA Partners (NYSE:ALDW) traded up 0.7752% during trading on Friday, hitting $11.3876. The company had a trading volume of 9,651 shares. Alon USA Partners has a 52 week low of $7.63 and a 52 week high of $12.44. The stock’s 50-day moving average price is $9.63 and its 200 day moving average price is $9.57. The company has a market capitalization of $711.95 million, a P/E ratio of 29.3495 and a beta of 1.05.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, May 30th. Investors of record on Monday, May 22nd will be issued a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a dividend yield of 13.45%. The ex-dividend date of this dividend is Thursday, May 18th. This is an increase from Alon USA Partners’s previous quarterly dividend of $0.11. Alon USA Partners’s dividend payout ratio is currently 2,000.67%.
Several analysts have recently weighed in on the stock. Citigroup Inc reiterated a “buy” rating and issued a $12.00 price objective (down previously from $13.50) on shares of Alon USA Partners in a research note on Saturday, April 22nd. Stifel Nicolaus raised shares of Alon USA Partners from a “market perform” rating to an “outperform” rating and set a $12.00 price objective on the stock in a report on Friday, April 21st. Finally, Credit Suisse Group AG raised shares of Alon USA Partners from a “neutral” rating to an “outperform” rating and boosted their price target for the stock from $11.00 to $12.00 in a report on Friday, April 21st. One research analyst has rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $10.70.
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Hedge funds have recently bought and sold shares of the stock. FMR LLC acquired a new stake in Alon USA Partners during the fourth quarter worth $4,239,000. Renaissance Technologies LLC boosted its position in shares of 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 period. A.R.T. Advisors LLC acquired a new stake in shares of Alon USA Partners during the fourth quarter worth $152,000. GSA Capital Partners LLP raised its stake in shares of Alon USA Partners by 572.5% in the fourth quarter. GSA Capital Partners LLP now owns 106,287 shares of the oil and gas company’s stock worth $1,020,000 after buying an additional 90,482 shares in the last quarter. Finally, Western Standard LLC acquired a new stake in shares of Alon USA Partners during the fourth quarter worth $1,781,000. Institutional investors own 4.07% of the company’s stock.
About Alon USA Partners
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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