Alon USA Energy Inc. (ALJ) Shares Down 1.3%
Shares of Alon USA Energy Inc. (NYSE:ALJ) traded down 1.3% during mid-day trading on Monday . The company traded as low as $7.35 and last traded at $7.47, with a volume of 467,872 shares changing hands. The stock had previously closed at $7.57.
A number of analysts recently issued reports on the company. Credit Suisse Group AG reaffirmed a “hold” rating and issued a $9.00 target price on shares of Alon USA Energy in a research report on Friday, July 29th. Zacks Investment Research downgraded Alon USA Energy from a “hold” rating to a “sell” rating in a research report on Thursday, July 21st. Barclays PLC raised Alon USA Energy from an “underweight” rating to an “equal weight” rating and lowered their price target for the stock from $10.00 to $8.00 in a research report on Wednesday, July 13th. Wells Fargo & Co. reissued a “hold” rating on shares of Alon USA Energy in a research report on Sunday, July 10th. Finally, JPMorgan Chase & Co. lowered their price target on Alon USA Energy from $8.00 to $7.00 and set a “neutral” rating on the stock in a research report on Friday, June 10th. Two investment analysts have rated the stock with a sell rating and five have given a hold rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $9.50.
The stock’s market capitalization is $501.83 million. The stock has a 50 day moving average price of $6.79 and a 200 day moving average price of $8.82.
Alon USA Energy (NYSE:ALJ) last announced its quarterly earnings results 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. The company had revenue of $1.01 billion for the quarter, compared to analyst estimates of $883.85 million. During the same quarter last year, the firm posted $0.67 earnings per share. The business’s quarterly revenue was down 22.5% compared to the same quarter last year. On average, equities analysts expect that Alon USA Energy Inc. will post ($1.13) EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 6th. Investors of record on Friday, August 19th will be given a $0.15 dividend. The ex-dividend date is Wednesday, August 17th. This represents a $0.60 annualized dividend and a yield of 8.01%.
In related news, VP Michael Oster sold 47,000 shares of the firm’s stock in a transaction dated Thursday, May 19th. The shares were sold at an average price of $8.19, for a total value of $384,930.00. Following the transaction, the vice president now owns 62,300 shares of the company’s stock, valued at approximately $510,237. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider David Wiessman sold 75,000 shares of the firm’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 completion of the transaction, the insider now directly owns 2,885,541 shares in the company, valued at approximately $20,285,353.23. The disclosure for this sale can be found here.
A number of institutional investors have made changes to their positions in ALJ. Cornerstone Capital Management Holdings LLC. boosted its position in shares of 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. Systematic Financial Management LP boosted its position in shares of 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. Finally, Matarin Capital Management LLC acquired a new position in shares of Alon USA Energy during the fourth quarter valued at $2,540,000.
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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