Alon USA Energy Inc. (ALJ) Stock Price Up 4.2% on Analyst Upgrade
Alon USA Energy Inc. (NYSE:ALJ)’s share price traded up 4.2% during trading on Monday after Barclays PLC raised their price target on the stock from $8.00 to $10.00. Barclays PLC currently has an equal weight rating on the stock. Alon USA Energy traded as high as $8.81 and last traded at $8.71, with a volume of 498,680 shares. The stock had previously closed at $8.36.
Other equities analysts have also issued research reports about the stock. Zacks Investment Research lowered shares of Alon USA Energy from a “hold” rating to a “sell” rating in a report on Tuesday, July 12th. Credit Suisse Group AG reissued a “hold” rating and issued a $9.00 price target on shares of Alon USA Energy in a report on Friday, July 29th. Wells Fargo & Co. reissued a “hold” rating on shares of Alon USA Energy in a report on Sunday, July 10th. Finally, Piper Jaffray Cos. increased their price target on shares of Alon USA Energy from $4.00 to $5.00 and gave the stock an “underweight” rating in a report on Monday, August 22nd. Three investment analysts have rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the company. Alon USA Energy presently has a consensus rating of “Hold” and an average target price of $9.44.
In other Alon USA Energy news, VP Michael Oster sold 18,500 shares of the stock in a transaction on Friday, August 5th. The shares were sold at an average price of $7.33, for a total transaction of $135,605.00. Following the completion of the sale, the vice president now owns 47,553 shares of the company’s stock, valued at approximately $348,563.49. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider David Wiessman sold 175,000 shares of the stock in a transaction on Tuesday, August 2nd. The shares were sold at an average price of $6.90, for a total transaction of $1,207,500.00. Following the sale, the insider now directly owns 2,910,541 shares of the company’s stock, valued at approximately $20,082,732.90. The disclosure for this sale can be found here. Company insiders own 8.80% of the company’s stock.
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A number of large investors have recently made changes to their positions in the stock. Van ECK Associates Corp boosted its stake 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 valued at $116,000 after buying an additional 4,313 shares during the last quarter. Janus Capital Management LLC purchased a new stake in shares of Alon USA Energy during the second quarter valued at $150,000. Zacks Investment Management purchased a new stake in shares of Alon USA Energy during the second quarter valued at $160,000. Thompson Siegel & Walmsley LLC purchased a new stake in shares of Alon USA Energy during the second quarter valued at $209,000. Finally, Public Employees Retirement System of Ohio boosted its stake in shares of 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 valued at $231,000 after buying an additional 2,721 shares during the last quarter. 50.46% of the stock is owned by institutional investors and hedge funds.
The stock’s market capitalization is $620.37 million. The firm’s 50 day moving average is $8.10 and its 200 day moving average is $8.16.
Alon USA Energy (NYSE:ALJ) last released 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 had revenue of $1.01 billion for the quarter, compared to the consensus estimate 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 company’s quarterly revenue was down 22.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.67 EPS. Equities analysts expect that Alon USA Energy Inc. will post ($1.08) earnings per share for the current fiscal year.
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.
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