Alon USA Energy Inc. (ALJ) Declares Quarterly Dividend of $0.06
Alon USA Energy (NYSE:ALJ) declared a quarterly dividend on Thursday, February 6th, American Banking & Market News reports. Investors of record on Friday, February 28th will be given a dividend of 0.06 per share on Friday, March 14th. This represents a $0.24 dividend on an annualized basis and a yield of 1.67%.
ALJ has been the subject of a number of recent research reports. Analysts at Goldman Sachs Group Inc. raised their price target on shares of Alon USA Energy from $13.00 to $16.00 in a research note to investors on Monday, December 16th. They now have a “neutral” rating on the stock. On a related note, analysts at Deutsche Bank upgraded shares of Alon USA Energy from a “hold” rating to a “buy” rating in a research note to investors on Monday, December 9th. They now have a $18.00 price target on the stock, up previously from $15.00. Finally, analysts at Macquarie upgraded shares of Alon USA Energy from an “underperform” rating to a “neutral” rating in a research note to investors on Thursday, December 5th. They now have a $16.00 price target on the stock, up previously from $8.00. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and one has issued a buy rating to the company. Alon USA Energy has a consensus rating of “Hold” and an average target price of $14.57.
Alon USA Energy (NYSE:ALJ) traded down 0.84% on Thursday, hitting $14.23. 383,294 shares of the company’s stock traded hands. Alon USA Energy has a 1-year low of $8.55 and a 1-year high of $21.24. The stock’s 50-day moving average is $15.83 and its 200-day moving average is $12.98. The company has a market cap of $892.5 million and a P/E ratio of 17.14.
In other Alon USA Energy news, major shareholder Israel Oil Company Ltd. Alon sold 262,456 shares of the company’s stock on the open market in a transaction that occurred on Wednesday, January 29th. The stock was sold at an average price of $15.53, for a total value of $4,075,941.68. Following the completion of the transaction, the insider now directly owns 38,432,030 shares of the company’s stock, valued at approximately $596,849,426. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Large shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.
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.
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