Alon USA Energy Inc. (ALJ) Sees Unusually-High Trading Volume
Shares of Alon USA Energy Inc. (NYSE:ALJ) saw unusually-strong trading volume on Monday . Approximately 3,311,905 shares changed hands during trading, an increase of 126% from the previous session’s volume of 1,466,353 shares.The stock last traded at $8.17 and had previously closed at $7.53.
Several research firms have issued reports on ALJ. Zacks Investment Research lowered shares of Alon USA Energy from a “hold” rating to a “sell” rating in a research report on Tuesday, May 3rd. Cowen and Company decreased 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 report on Thursday, May 5th. TheStreet lowered shares of Alon USA Energy from a “hold” rating to a “sell” rating in a research report on Friday, May 6th. JPMorgan Chase & Co. decreased 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 report on Friday, June 10th. Finally, Wells Fargo & Co. restated a “hold” rating on shares of Alon USA Energy in a research report on Sunday, July 10th. Two equities research analysts have rated the stock with a sell rating and six have given a hold rating to the company’s stock. Alon USA Energy presently has an average rating of “Hold” and a consensus price target of $8.86.
The firm has a 50-day moving average of $7.03 and a 200-day moving average of $8.59. The stock’s market cap is $579.91 million.
Alon USA Energy (NYSE:ALJ) last posted its 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 business had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $883.85 million. During the same quarter in the previous year, the business posted $0.67 EPS. The business’s revenue for the quarter was down 22.5% on a year-over-year basis. On average, equities analysts anticipate that Alon USA Energy Inc. will post ($1.11) earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 6th. Shareholders of record on Friday, August 19th will be issued a $0.15 dividend. The ex-dividend date of this dividend is Wednesday, August 17th. This represents a $0.60 annualized dividend and a yield of 7.34%.
In other Alon USA Energy news, VP Michael Oster sold 18,500 shares of the stock in a transaction on Friday, August 5th. The shares were sold at an average price of $7.33, for a total value of $135,605.00. Following the sale, the vice president now directly owns 47,553 shares in the company, valued at $348,563.49. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider David Wiessman sold 105,000 shares of the stock in a transaction on Friday, August 26th. The stock was sold at an average price of $7.33, for a total transaction of $769,650.00. Following the completion of the sale, the insider now owns 2,580,541 shares in the company, valued at $18,915,365.53. The disclosure for this sale can be found here.
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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