Zacks Investment Research upgraded shares of Alon USA Energy Inc. (NYSE:ALJ) from a sell rating to a hold rating in a research note published on Wednesday morning.
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 equities analysts have also recently issued research reports about the company. Barclays PLC upgraded Alon USA Energy from an underweight rating to an equal weight rating and decreased their price objective for the company from $10.00 to $8.00 in a research note on Wednesday, July 13th. Credit Suisse Group AG upgraded Alon USA Energy from a neutral rating to an outperform rating and boosted their target price for the stock from $7.00 to $10.50 in a research note on Tuesday, October 11th. Wells Fargo & Co. restated a hold rating on shares of Alon USA Energy in a research note on Sunday, July 10th. Piper Jaffray Cos. boosted their target price on Alon USA Energy from $4.00 to $5.00 and gave the stock an underweight rating in a research note on Monday, August 22nd. Finally, Citigroup Inc. began coverage on Alon USA Energy in a research note on Wednesday, September 14th. They set a buy rating and a $10.50 target price for the company. Two analysts have rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the company. The stock currently has a consensus rating of Hold and an average target price of $9.63.
Shares of Alon USA Energy (NYSE:ALJ) opened at 8.45 on Wednesday. Alon USA Energy has a 52 week low of $5.86 and a 52 week high of $18.27. The firm’s market cap is $599.78 million. The stock’s 50 day moving average is $8.30 and its 200-day moving average is $8.11.
Alon USA Energy (NYSE:ALJ) last announced its quarterly earnings data on Thursday, July 28th. The company reported ($0.21) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.19) by $0.02. The company earned $1.01 billion during the quarter, compared to analysts’ expectations of $883.85 million. Alon USA Energy had a negative net margin of 1.75% and a negative return on equity of 2.29%. The business’s quarterly revenue was down 22.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.67 EPS. On average, equities analysts predict that Alon USA Energy will post ($1.08) EPS for the current fiscal year.
In other news, insider David Wiessman sold 75,000 shares of the business’s stock in a transaction that occurred on Thursday, August 11th. The stock was sold at an average price of $7.03, for a total value of $527,250.00. Following the transaction, the insider now owns 2,885,541 shares of the company’s stock, valued at $20,285,353.23. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Michael Oster sold 18,500 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the vice president now directly owns 47,553 shares in the company, valued at approximately $348,563.49. The disclosure for this sale can be found here. 8.80% of the stock is owned by company insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Adams Asset Advisors LLC raised its position in Alon USA Energy by 14.7% in the third quarter. Adams Asset Advisors LLC now owns 117,481 shares of the company’s stock worth $946,000 after buying an additional 15,037 shares during the last quarter. Fisher Asset Management LLC raised its position in Alon USA Energy by 28.7% in the third quarter. Fisher Asset Management LLC now owns 212,800 shares of the company’s stock worth $1,715,000 after buying an additional 47,400 shares during the last quarter. Nomura Holdings Inc. raised its position in Alon USA Energy by 317.2% in the second quarter. Nomura Holdings Inc. now owns 106,109 shares of the company’s stock worth $687,000 after buying an additional 80,676 shares during the last quarter. Public Employees Retirement System of Ohio raised its position in Alon USA Energy by 8.3% in the second quarter. Public Employees Retirement System of Ohio now owns 35,582 shares of the company’s stock worth $231,000 after buying an additional 2,721 shares during the last quarter. Finally, Point72 Asset Management L.P. raised 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 last quarter. 50.47% of the stock is currently owned by institutional investors and hedge funds.
Alon USA Energy Company Profile
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.