Alon USA Partners, LP (ALDW) Upgraded at BidaskClub
Alon USA Partners, LP (NYSE:ALDW) was upgraded by equities researchers at BidaskClub from a “sell” rating to a “hold” rating in a research note issued to investors on Thursday.
A number of other brokerages have also recently issued reports on ALDW. Citigroup Inc. reissued a “buy” rating and set a $13.00 price target on shares of Alon USA Partners, in a research report on Wednesday, August 2nd. TheStreet raised Alon USA Partners, from a “c” rating to a “b-” rating in a research report on Friday, July 28th. Tudor Pickering reaffirmed a “hold” rating on shares of Alon USA Partners, in a research report on Thursday, July 13th. Finally, Barclays PLC reaffirmed an “equal weight” rating and issued a $12.00 target price on shares of Alon USA Partners, in a research report on Wednesday, July 5th. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $11.70.
Shares of Alon USA Partners, (NYSE ALDW) opened at 11.40 on Thursday. The company has a market cap of $712.83 million, a price-to-earnings ratio of 15.92 and a beta of 1.06. The company’s 50-day moving average is $11.10 and its 200-day moving average is $10.30. Alon USA Partners, has a one year low of $7.63 and a one year high of $12.72.
Alon USA Partners, (NYSE:ALDW) last issued its earnings results on Thursday, July 27th. The oil and gas company reported $0.35 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.42 by $0.07. Alon USA Partners, had a return on equity of 40.06% and a net margin of 2.20%. The firm had revenue of $521.75 million for the quarter, compared to analysts’ expectations of $436.80 million. During the same quarter in the previous year, the firm posted $0.02 EPS. On average, equities analysts predict that Alon USA Partners, will post $1.13 EPS for the current year.
Several large investors have recently bought and sold shares of ALDW. Bank of New York Mellon Corp raised its stake in Alon USA Partners, by 0.6% in the first quarter. Bank of New York Mellon Corp now owns 271,529 shares of the oil and gas company’s stock valued at $2,487,000 after buying an additional 1,528 shares in the last quarter. HITE Hedge Asset Management LLC purchased a new stake in Alon USA Partners, during the first quarter valued at about $2,523,000. Nine Chapters Capital Management LLC purchased a new stake in Alon USA Partners, during the first quarter valued at about $321,000. FMR LLC raised 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 valued at $4,593,000 after buying an additional 59,900 shares in the last quarter. Finally, Morgan Stanley raised 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 valued at $10,226,000 after buying an additional 787,330 shares in the last quarter. 5.26% of the stock is currently owned by institutional investors and hedge funds.
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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