Alon USA Partners, LP (ALDW) Lowered to “Sell” at ValuEngine
ValuEngine downgraded shares of Alon USA Partners, LP (NYSE:ALDW) from a hold rating to a sell rating in a research note released on Wednesday morning.
Several other equities research analysts also recently weighed in on ALDW. BidaskClub raised shares of Alon USA Partners, from a sell rating to a hold rating in a research note on Thursday, August 31st. Citigroup Inc. reissued a buy rating and issued a $13.00 target price on shares of Alon USA Partners, in a research note on Wednesday, August 2nd. Barclays PLC reissued an equal weight rating and issued a $12.00 target price on shares of Alon USA Partners, in a research note on Wednesday, July 5th. TheStreet raised shares of Alon USA Partners, from a c rating to a b- rating in a research note on Friday, July 28th. Finally, Tudor Pickering reissued a hold rating on shares of Alon USA Partners, in a research note on Thursday, July 13th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the stock. The company currently has an average rating of Hold and an average price target of $11.70.
Shares of Alon USA Partners, (NYSE:ALDW) opened at 11.45 on Wednesday. Alon USA Partners, has a one year low of $7.63 and a one year high of $12.72. The company has a market cap of $715.96 million, a price-to-earnings ratio of 15.99 and a beta of 1.05. The firm has a 50-day moving average of $11.22 and a 200-day moving average of $10.40.
Alon USA Partners, (NYSE:ALDW) last announced its earnings results on Thursday, July 27th. The oil and gas company reported $0.35 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.42 by $0.07. Alon USA Partners, had a net margin of 2.20% and a return on equity of 40.06%. The firm had revenue of $521.75 million during the quarter, compared to analysts’ expectations of $436.80 million. During the same period in the prior year, the company posted $0.02 EPS. Equities research analysts forecast that Alon USA Partners, will post $1.18 EPS for the current fiscal year.
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The business also recently declared a quarterly dividend, which was paid on Thursday, August 24th. Investors of record on Thursday, August 17th were paid a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 12.23%. The ex-dividend date was Tuesday, August 15th. Alon USA Partners,’s dividend payout ratio is presently 197.19%.
In related news, VP Shai Even sold 7,200 shares of the firm’s stock in a transaction dated Thursday, August 31st. The shares were sold at an average price of $11.61, for a total value of $83,592.00. Following the transaction, the vice president now owns 4,263 shares of the company’s stock, valued at approximately $49,493.43. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
Hedge funds have recently bought and sold shares of the stock. Acrospire Investment Management LLC increased its stake in Alon USA Partners, by 683.7% in the 2nd quarter. Acrospire Investment Management LLC now owns 9,514 shares of the oil and gas company’s stock worth $100,000 after buying an additional 8,300 shares during the period. Virtu KCG Holdings LLC purchased a new position in Alon USA Partners, in the 2nd quarter worth about $148,000. Russell Investments Group Ltd. purchased a new position in Alon USA Partners, in the 2nd quarter worth about $173,000. Nine Chapters Capital Management LLC purchased a new position in Alon USA Partners, in the 1st quarter worth about $321,000. Finally, Arrowstreet Capital Limited Partnership purchased a new position in Alon USA Partners, in the 2nd quarter worth about $493,000. 5.26% of the stock is currently owned by institutional investors.
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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