Alon USA Energy Inc. (ALJ) Downgraded by Zacks Investment Research to “Sell”
According to Zacks, “Alon USA Energy, Inc. is an independent refiner and marketer of petroleum products, operating primarily in the Southwestern and South Central regions of the United States. Alon markets gasoline and diesel products under the FINA brand name and is a leading producer of asphalt in the State of Texas. The Company also operates convenience stores in West Texas and New Mexico under the 7-Eleven and FINA brand names and supplies motor fuels to these stores from its Big Spring refinery. “
Other analysts have also recently issued reports about the company. Citigroup Inc. started coverage on Alon USA Energy in a research report on Wednesday, September 14th. They issued a buy rating and a $10.50 target price on the stock. Barclays PLC upgraded Alon USA Energy from an underweight rating to an equal weight rating and lowered their target price for the company from $10.00 to $8.00 in a research report on Wednesday, July 13th. Credit Suisse Group AG restated a hold rating and issued a $9.00 target price on shares of Alon USA Energy in a research report on Friday, July 29th. Wells Fargo & Co. restated a hold rating on shares of Alon USA Energy in a research report on Sunday, July 10th. Finally, JPMorgan Chase & Co. lowered their target price 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. 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 company’s stock. Alon USA Energy presently has an average rating of Hold and an average target price of $9.19.
Shares of Alon USA Energy (NYSE:ALJ) traded up 1.474% during mid-day trading on Tuesday, hitting $8.605. The stock had a trading volume of 302,375 shares. The company has a 50 day moving average price of $8.01 and a 200 day moving average price of $8.17. Alon USA Energy has a 12-month low of $5.86 and a 12-month high of $19.84. The firm’s market cap is $610.78 million.
Alon USA Energy (NYSE:ALJ) last posted its earnings results on Thursday, July 28th. The company reported ($0.21) EPS 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 business earned $1.01 billion during the quarter, compared to analyst estimates of $883.85 million. During the same quarter in the prior year, the business earned $0.67 earnings per share. The firm’s revenue was down 22.5% compared to the same quarter last year. Equities analysts forecast that Alon USA Energy will post ($1.11) earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Tuesday, September 6th. Investors of record on Friday, August 19th were issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 7.08%. The ex-dividend date of this dividend was Wednesday, August 17th. Alon USA Energy’s payout ratio is -61.86%.
In related news, VP Michael Oster sold 18,500 shares of Alon USA Energy stock in a transaction on 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 directly owns 47,553 shares in the company, valued at approximately $348,563.49. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider David Wiessman sold 175,000 shares of Alon USA Energy stock in a transaction on 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 $20,082,732.90. The disclosure for this sale can be found here. 8.80% of the stock is owned by corporate insiders.
Several institutional investors have recently modified their holdings of ALJ. Van ECK Associates Corp boosted its position in shares of Alon USA Energy by 31.6% in the second quarter. Van ECK Associates Corp now owns 17,965 shares of the company’s stock worth $116,000 after buying an additional 4,313 shares during the last quarter. Janus Capital Management LLC bought a new position in shares of Alon USA Energy during the second quarter worth about $150,000. Acrospire Investment Management LLC acquired a new stake in shares of Alon USA Energy during the first quarter valued at approximately $243,000. Zacks Investment Management acquired a new stake in shares of Alon USA Energy during the second quarter valued at approximately $160,000. Finally, Thompson Siegel & Walmsley LLC acquired a new stake in shares of Alon USA Energy during the second quarter valued at approximately $209,000. Institutional investors and hedge funds 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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