ValuEngine Upgrades Alon USA Partners, LP (ALDW) to “Hold”
Alon USA Partners, LP (NYSE:ALDW) was upgraded by equities researchers at ValuEngine from a “sell” rating to a “hold” rating in a research note issued to investors on Monday.
A number of other research analysts have also issued reports on ALDW. Barclays PLC reiterated an “equal weight” rating and issued a $12.00 target price on shares of Alon USA Partners, in a research note on Wednesday, July 5th. Tudor Pickering restated a “hold” rating on shares of Alon USA Partners, in a research report on Thursday, July 13th. Citigroup Inc. raised their price target on shares of Alon USA Partners, from $12.00 to $14.00 and gave the stock a “buy” rating in a research report on Monday, July 17th. TheStreet upgraded shares of Alon USA Partners, from a “c” rating to a “b-” rating in a research report on Friday, July 28th. Finally, BidaskClub upgraded shares of Alon USA Partners, from a “sell” rating to a “hold” rating in a research report on Tuesday, August 8th. Four investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $11.70.
Shares of Alon USA Partners, (NYSE:ALDW) traded up 0.18% during trading on Monday, reaching $11.23. 49,083 shares of the company’s stock were exchanged. Alon USA Partners, has a 52-week low of $7.63 and a 52-week high of $12.72. The company has a 50 day moving average of $11.26 and a 200 day moving average of $10.51. The firm has a market capitalization of $702.20 million, a P/E ratio of 15.68 and a beta of 1.05.
Alon USA Partners, (NYSE:ALDW) last posted its earnings results on Thursday, July 27th. The oil and gas company reported $0.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.07). Alon USA Partners, had a net margin of 2.20% and a return on equity of 40.06%. The firm had revenue of $521.75 million during the quarter, compared to analyst estimates of $436.80 million. During the same quarter in the previous year, the business posted $0.02 earnings per share. Equities analysts anticipate that Alon USA Partners, will post $1.31 earnings per share for the current fiscal year.
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In other Alon USA Partners, news, VP Shai Even sold 2,937 shares of the firm’s stock in a transaction on Wednesday, August 30th. The shares were sold at an average price of $11.50, for a total value of $33,775.50. Following the sale, the vice president now directly owns 4,263 shares in the company, valued at approximately $49,024.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.
Several large investors have recently added to or reduced their stakes in the company. Arrowstreet Capital Limited Partnership bought a new position in shares of Alon USA Partners, during the 2nd quarter worth about $493,000. Virtu KCG Holdings LLC bought a new position in shares of Alon USA Partners, during the 2nd quarter worth about $148,000. Acrospire Investment Management LLC lifted its holdings in shares of Alon USA Partners, by 683.7% during the 2nd quarter. Acrospire Investment Management LLC now owns 9,514 shares of the oil and gas company’s stock worth $100,000 after acquiring an additional 8,300 shares during the period. HITE Hedge Asset Management LLC lifted its holdings in shares of Alon USA Partners, by 41.2% during the 2nd quarter. HITE Hedge Asset Management LLC now owns 388,875 shares of the oil and gas company’s stock worth $4,075,000 after acquiring an additional 113,470 shares during the period. Finally, Acadian Asset Management LLC bought a new position in shares of Alon USA Partners, during the 2nd quarter worth about $544,000. 5.26% of the stock is owned by institutional investors.
Alon USA Partners, Company Profile
Alon USA Partners, LP (Alon) is engaged principally in the business of operating a crude oil refinery in Big Spring, Texas. The Company had a crude oil throughput capacity of 73,000 barrels per day, which the Company referred to as its Big Spring refinery, as of December 31, 2016. The Company refines crude oil into finished products, which the Company markets primarily in Central and West Texas, Oklahoma, New Mexico and Arizona through its integrated wholesale distribution network to retail convenience stores and other third-party distributors.
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