Alon USA Energy Inc. (NYSE:ALJ) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Wednesday.
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 also recently issued reports about the company. Credit Suisse Group AG reiterated a “hold” rating and set a $9.00 price target on shares of Alon USA Energy in a report on Friday, July 29th. Piper Jaffray Cos. increased 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. Citigroup Inc. initiated coverage on Alon USA Energy in a report on Wednesday, September 14th. They set a “buy” rating and a $10.50 price target for the company. Finally, Barclays PLC reiterated an “equal weight” rating and set a $10.00 price target (up from $8.00) on shares of Alon USA Energy in a report on Monday, October 10th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and two have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $9.25.
Alon USA Energy (NYSE:ALJ) opened at 9.55 on Wednesday. Alon USA Energy has a 1-year low of $5.86 and a 1-year high of $18.08. The firm has a 50-day moving average price of $8.32 and a 200-day moving average price of $7.67. The firm’s market capitalization is $679.30 million.
Alon USA Energy (NYSE:ALJ) last announced its earnings results on Thursday, October 27th. The company reported ($0.09) earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.09). The business earned $1.04 billion during the quarter, compared to analyst estimates of $859.99 million. Alon USA Energy had a negative return on equity of 10.24% and a negative net margin of 3.18%. Alon USA Energy’s revenue for the quarter was down 9.3% compared to the same quarter last year. During the same period last year, the company earned $0.60 EPS. Equities analysts expect that Alon USA Energy will post ($0.97) earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 23rd. Stockholders of record on Wednesday, December 7th will be paid a $0.15 dividend. The ex-dividend date is Monday, December 5th. This represents a $0.60 annualized dividend and a dividend yield of 6.28%. Alon USA Energy’s dividend payout ratio is presently -35.93%.
Several hedge funds have recently modified their holdings of ALJ. 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 worth $12,158,000 after buying an additional 753,800 shares during the period. 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 worth $6,072,000 after buying an additional 627,363 shares during the period. Deprince Race & Zollo Inc. bought a new position in Alon USA Energy during the second quarter worth about $4,031,000. Bank of Montreal Can bought a new position in Alon USA Energy during the second quarter worth about $2,337,000. Finally, A.R.T. Advisors LLC bought a new position in Alon USA Energy during the second quarter worth about $2,289,000. Institutional investors own 47.58% 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.