Alon USA Energy Inc. (ALJ) Trading 4.1% Higher
Alon USA Energy Inc. (NYSE:ALJ)’s share price traded up 4.1% on Thursday . The company traded as high as $7.20 and last traded at $7.12, with a volume of 1,314,770 shares. The stock had previously closed at $6.84.
A number of equities research analysts have issued reports on the stock. Zacks Investment Research lowered shares of Alon USA Energy from a “hold” rating to a “sell” rating in a report on Tuesday, May 3rd. Barclays PLC upgraded shares of Alon USA Energy from an “underweight” rating to an “equal weight” rating and cut their price target for the stock from $10.00 to $8.00 in a research note on Wednesday, July 13th. Cowen and Company cut their price target on shares of Alon USA Energy from $14.00 to $10.00 and set a “market perform” rating on the stock in a research note on Thursday, May 5th. JPMorgan Chase & Co. cut their price target on shares of Alon USA Energy from $8.00 to $7.00 and set a “neutral” rating on the stock in a research note on Friday, June 10th. Finally, Credit Suisse Group AG reissued a “hold” rating and set a $9.00 price objective on shares of Alon USA Energy in a research report on Friday, July 29th. Two equities research analysts have rated the stock with a sell rating and five have issued a hold rating to the company’s stock. Alon USA Energy has a consensus rating of “Hold” and an average price target of $9.50.
The firm’s 50-day moving average price is $6.73 and its 200-day moving average price is $8.93. The stock’s market capitalization is $537.32 million.
Alon USA Energy (NYSE:ALJ) last announced its earnings results on Thursday, July 28th. The company reported ($0.21) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.19) by $0.02. During the same period in the previous year, the company earned $0.67 EPS. The company had revenue of $1.01 billion for the quarter, compared to analysts’ expectations of $883.85 million. The firm’s quarterly revenue was down 22.5% compared to the same quarter last year. On average, equities research analysts forecast that Alon USA Energy Inc. will post ($1.12) EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 6th. Stockholders of record on Friday, August 19th will be given 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 dividend yield of 7.93%.
In other Alon USA Energy news, VP Michael Oster sold 47,000 shares of the company’s stock in a transaction dated Thursday, May 19th. The shares were 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 directly owns 62,300 shares of the company’s stock, valued at $510,237. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider David Wiessman sold 75,000 shares of the company’s stock in a transaction dated Thursday, August 11th. The shares were sold at an average price of $7.03, for a total transaction of $527,250.00. Following the sale, the insider now directly owns 2,885,541 shares of the company’s stock, valued at $20,285,353.23. The disclosure for this sale can be found here.
A number of hedge funds have recently bought and sold shares of ALJ. 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 worth $2,276,000 after buying an additional 1,058 shares in the last quarter. 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 worth $6,783,000 after buying an additional 337,157 shares during the period. Matarin Capital Management LLC bought a new stake in Alon USA Energy during the fourth quarter worth about $2,540,000. Finally, 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 worth $1,674,000 after buying an additional 32,288 shares during the period.
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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