Alon USA Partners, LP (ALDW) Stock Rating Reaffirmed by Citigroup Inc.
Citigroup Inc. reaffirmed their buy rating on shares of Alon USA Partners, LP (NYSE:ALDW) in a research note released on Wednesday morning. The brokerage currently has a $13.00 target price on the oil and gas company’s stock.
Several other analysts have also recently commented on the stock. TheStreet upgraded shares of Alon USA Partners, from a c rating to a b- rating in a research note on Friday, July 28th. Tudor Pickering reiterated a hold rating on shares of Alon USA Partners, in a research note on Thursday, July 13th. Barclays PLC reiterated an equal weight rating and issued a $12.00 price target on shares of Alon USA Partners, in a research note on Wednesday, July 5th. Stifel Nicolaus upgraded shares of Alon USA Partners, from a market perform rating to an outperform rating and set a $12.00 price target on the stock in a research note on Friday, April 21st. Finally, Credit Suisse Group upgraded 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 research note on Friday, April 21st. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The company has a consensus rating of Buy and an average target price of $11.70.
Alon USA Partners, (NYSE ALDW) traded down 0.08% on Wednesday, hitting $11.97. 77,429 shares of the stock traded hands. The company’s 50 day moving average price is $10.88 and its 200-day moving average price is $10.17. Alon USA Partners, has a 52-week low of $7.63 and a 52-week high of $12.44. The stock has a market cap of $748.47 million, a price-to-earnings ratio of 16.62 and a beta of 1.06.
Alon USA Partners, (NYSE:ALDW) last announced its quarterly earnings results on Thursday, July 27th. The oil and gas company reported $0.35 EPS for the quarter, missing the consensus estimate of $0.42 by $0.07. The company had revenue of $521.75 million during the quarter, compared to analysts’ expectations of $436.80 million. Alon USA Partners, had a return on equity of 40.42% and a net margin of 2.20%. During the same quarter in the previous year, the firm earned $0.02 EPS. On average, analysts forecast that Alon USA Partners, will post $1.00 earnings per share for the current fiscal year.
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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. This represents a $1.40 annualized dividend and a yield of 11.70%. The ex-dividend date of this dividend is Tuesday, August 15th. Alon USA Partners,’s payout ratio is currently 214.09%.
A number of hedge funds have recently made changes to their positions in ALDW. Acadian Asset Management LLC bought a new stake in shares of Alon USA Partners, during the second quarter valued at approximately $544,000. Russell Investments Group Ltd. acquired a new stake in Alon USA Partners, during the second quarter worth $173,000. Morgan Stanley increased its stake in Alon USA Partners, by 239.3% in the first quarter. Morgan Stanley now owns 1,116,396 shares of the oil and gas company’s stock worth $10,226,000 after buying an additional 787,330 shares during the period. 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 worth $4,593,000 after buying an additional 59,900 shares during the period. Finally, Nine Chapters Capital Management LLC acquired a new stake in Alon USA Partners, during the first quarter worth $321,000. Institutional investors and hedge funds own 6.83% of the company’s stock.
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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