Alon USA Energy major shareholder Sells $2,454,000 in Stock (ALJ)
Alon USA Energy (NYSE:ALJ) major shareholder Israel Oil Company Ltd. Alon unloaded 150,000 shares of the stock on the open market in a transaction dated Wednesday, August 20th. The stock was sold at an average price of $16.36, for a total value of $2,454,000.00. Following the sale, the insider now directly owns 37,932,030 shares of the company’s stock, valued at approximately $620,568,011. The sale was disclosed in a legal filing with the SEC, which is available at this link. Large shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.
ALJ has been the subject of a number of recent research reports. Analysts at Zacks upgraded shares of Alon USA Energy from an “underperform” rating to a “neutral” rating in a research note on Monday. They now have a $15.90 price target on the stock. Separately, analysts at Simmons upgraded shares of Alon USA Energy from a “neutral” rating to an “overweight” rating in a research note on Thursday, August 7th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the company. Alon USA Energy currently has a consensus rating of “Hold” and an average price target of $16.11.
Shares of Alon USA Energy (NYSE:ALJ) traded down 0.37% on Friday, hitting $16.28. The stock had a trading volume of 521,381 shares. Alon USA Energy has a 52-week low of $8.55 and a 52-week high of $17.58. The stock has a 50-day moving average of $13.65 and a 200-day moving average of $14.45. The company’s market cap is $1.117 billion.
Alon USA Energy (NYSE:ALJ) last posted its quarterly earnings results on Thursday, August 7th. The company reported ($0.05) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.01) by $0.04. The company had revenue of $1.74 billion for the quarter, compared to the consensus estimate of $1.45 billion. During the same quarter in the previous year, the company posted $0.27 earnings per share. The company’s revenue for the quarter was up 3.9% on a year-over-year basis. Analysts expect that Alon USA Energy will post $0.64 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Monday, September 22nd. Shareholders of record on Monday, September 8th will be given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 2.46%. The ex-dividend date of this dividend is Thursday, September 4th. This is a positive change from Alon USA Energy’s previous quarterly dividend of $0.06.
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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