Shares of Alon USA Energy Inc. (NYSE:ALJ) dropped 5.5% during mid-day trading on Monday . The company traded as low as $6.60 and last traded at $6.68, with a volume of 786,525 shares. The stock had previously closed at $7.07.

ALJ has been the subject of a number of research reports. Cowen and Company cut their target price on shares of Alon USA Energy from $14.00 to $10.00 and set a “market perform” rating for the company in a research note on Thursday, May 5th. Zacks Investment Research upgraded shares of Alon USA Energy from a “sell” rating to a “hold” rating in a research note on Tuesday, July 5th. Barclays PLC upgraded shares of Alon USA Energy from an “underweight” rating to an “equal weight” rating and cut their target price for the stock from $10.00 to $8.00 in a research note on Wednesday, July 13th. Wells Fargo & Co. restated a “hold” rating on shares of Alon USA Energy in a research note on Sunday, July 10th. Finally, TheStreet cut shares of Alon USA Energy from a “hold” rating to a “sell” rating in a research note on Friday, May 6th. Two equities research analysts have rated the stock with a sell rating and five have assigned a hold rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $9.50.

The firm has a 50 day moving average of $6.57 and a 200 day moving average of $9.14. The firm’s market capitalization is $497.51 million.

Alon USA Energy (NYSE:ALJ) last released its quarterly earnings data on Thursday, July 28th. The company reported ($0.21) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.19) by $0.02. During the same quarter last year, the firm posted $0.67 EPS. The business had revenue of $1.01 billion for the quarter, compared to analysts’ expectations of $883.85 million. The company’s revenue was down 22.5% on a year-over-year basis. On average, equities analysts expect that Alon USA Energy Inc. will post ($1.06) earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 6th. Shareholders of record on Friday, August 19th will be issued a dividend of $0.15 per share. The ex-dividend date of this dividend is Wednesday, August 17th. This represents a $0.60 annualized dividend and a yield of 8.66%.

In other news, insider Jeff D. Morris sold 25,000 shares of the company’s stock in a transaction on Tuesday, May 10th. The shares were sold at an average price of $8.67, for a total value of $216,750.00. Following the completion of the sale, the insider now owns 1,486,653 shares in the company, valued at approximately $12,889,281.51. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Michael Oster sold 47,000 shares of the company’s stock in a transaction on Thursday, May 19th. The stock was sold at an average price of $8.19, for a total transaction of $384,930.00. Following the completion of the sale, the vice president now owns 62,300 shares of the company’s stock, valued at approximately $510,237. The disclosure for this sale can be found here.

Several hedge funds have recently bought and sold shares of the company. BNP Paribas Arbitrage SA raised its stake in Alon USA Energy by 40.1% in the fourth quarter. BNP Paribas Arbitrage SA now owns 112,816 shares of the company’s stock valued at $1,674,000 after buying an additional 32,288 shares during the last quarter. Matarin Capital Management LLC purchased a new stake in Alon USA Energy during the fourth quarter valued at about $2,540,000. Systematic Financial Management LP raised its stake in Alon USA Energy by 281.1% in the fourth quarter. Systematic Financial Management LP now owns 457,097 shares of the company’s stock valued at $6,783,000 after buying an additional 337,157 shares during the last quarter. Deere & Co. raised its stake in Alon USA Energy by 7.3% in the fourth quarter. Deere & Co. now owns 115,960 shares of the company’s stock valued at $1,721,000 after buying an additional 7,896 shares during the last quarter. Finally, Cornerstone Capital Management Holdings LLC. raised its stake in Alon USA Energy by 0.7% in the fourth quarter. Cornerstone Capital Management Holdings LLC. now owns 153,359 shares of the company’s stock valued at $2,276,000 after buying an additional 1,058 shares during the last quarter.

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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