Citigroup Inc. Begins Coverage on Alon USA Energy Inc. (ALJ)
Several other brokerages have also weighed in on ALJ. Zacks Investment Research raised Alon USA Energy from a sell rating to a hold rating in a report on Thursday, September 8th. JPMorgan Chase & Co. cut their price target on Alon USA Energy from $8.00 to $7.00 and set a neutral rating for the company in a report on Friday, June 10th. Piper Jaffray Cos. raised their price target on Alon USA Energy from $4.00 to $5.00 and gave the stock an underweight rating in a report on Monday, August 22nd. Credit Suisse Group AG reaffirmed a hold rating and issued a $9.00 price target on shares of Alon USA Energy in a report on Friday, July 29th. Finally, Barclays PLC raised 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 report on Wednesday, July 13th. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the stock. The company presently has a consensus rating of Hold and an average target price of $9.19.
Shares of Alon USA Energy (NYSE:ALJ) opened at 8.64 on Wednesday. Alon USA Energy has a 12 month low of $5.86 and a 12 month high of $19.84. The company’s market cap is $613.27 million. The company’s 50-day moving average price is $7.69 and its 200-day moving average price is $8.38.
Alon USA Energy (NYSE:ALJ) last announced its quarterly earnings data on Thursday, July 28th. The company reported ($0.21) earnings per share for the quarter, missing the consensus estimate of ($0.19) by $0.02. Alon USA Energy had a negative net margin of 1.75% and a negative return on equity of 2.29%. The firm had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $883.85 million. During the same period last year, the company posted $0.67 earnings per share. Alon USA Energy’s revenue for the quarter was down 22.5% on a year-over-year basis. Analysts anticipate that Alon USA Energy will post ($1.10) EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 6th. Stockholders of record on Friday, August 19th were issued a $0.15 dividend. The ex-dividend date was Wednesday, August 17th. This represents a $0.60 annualized dividend and a dividend yield of 6.94%. Alon USA Energy’s dividend payout ratio is currently -61.86%.
In other news, VP Michael Oster sold 18,500 shares of Alon USA Energy stock in a transaction dated Friday, August 5th. The stock was sold at an average price of $7.33, for a total value of $135,605.00. Following the transaction, the vice president now owns 47,553 shares in the company, valued at $348,563.49. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider David Wiessman sold 175,000 shares of Alon USA Energy stock in a transaction dated Tuesday, August 2nd. The stock was sold at an average price of $6.90, for a total value of $1,207,500.00. Following the completion of the transaction, the insider now owns 2,910,541 shares in the company, valued at approximately $20,082,732.90. The disclosure for this sale can be found here. 8.80% of the stock is owned by insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Point72 Asset Management L.P. increased its position in Alon USA Energy by 67.2% in the second quarter. Point72 Asset Management L.P. now owns 1,876,200 shares of the company’s stock valued at $12,158,000 after buying an additional 753,800 shares in the last quarter. Ameriprise Financial Inc. increased its position in Alon USA Energy by 202.5% in the second quarter. Ameriprise Financial Inc. now owns 937,153 shares of the company’s stock valued at $6,072,000 after buying an additional 627,363 shares in the last quarter. Deprince Race & Zollo Inc. bought a new position in Alon USA Energy during the second quarter valued at approximately $4,031,000. Bank of Montreal Can bought a new position in Alon USA Energy during the second quarter valued at approximately $2,337,000. Finally, A.R.T. Advisors LLC bought a new position in Alon USA Energy during the second quarter valued at approximately $2,289,000. Hedge funds and other institutional investors own 50.46% of the company’s stock.
About Alon USA Energy
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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