Alon USA Partners, LP (ALDW) Receives Consensus Recommendation of “Buy” from Analysts
Alon USA Partners, LP (NYSE:ALDW) has received an average rating of “Buy” from the nine research firms that are presently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and five have assigned a buy recommendation to the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $12.25.
ALDW has been the subject of several research reports. BidaskClub raised Alon USA Partners from a “hold” rating to a “buy” rating in a research note on Saturday, November 4th. ValuEngine downgraded Alon USA Partners from a “hold” rating to a “sell” rating in a research note on Friday. Finally, Macquarie raised shares of Alon USA Partners from a “neutral” rating to an “outperform” rating in a research note on Monday, October 23rd.
Hedge funds have recently made changes to their positions in the stock. Acadian Asset Management LLC acquired a new position in Alon USA Partners in the 2nd quarter valued at about $544,000. Arrowstreet Capital Limited Partnership acquired a new position in Alon USA Partners in the 2nd quarter valued at about $493,000. HITE Hedge Asset Management LLC raised its stake in Alon USA Partners by 41.2% in the 2nd quarter. HITE Hedge Asset Management LLC now owns 388,875 shares of the oil and gas company’s stock valued at $4,075,000 after purchasing an additional 113,470 shares during the last quarter. Acrospire Investment Management LLC raised its stake in Alon USA Partners by 683.7% in the 2nd quarter. Acrospire Investment Management LLC now owns 9,514 shares of the oil and gas company’s stock valued at $100,000 after purchasing an additional 8,300 shares during the last quarter. Finally, Russell Investments Group Ltd. acquired a new position in Alon USA Partners in the 2nd quarter valued at about $173,000. 5.33% of the stock is owned by hedge funds and other institutional investors.
The company also recently announced a quarterly dividend, which was paid on Wednesday, November 22nd. Investors of record on Monday, November 13th were paid a $0.43 dividend. This is an increase from Alon USA Partners’s previous quarterly dividend of $0.35. The ex-dividend date of this dividend was Friday, November 10th. This represents a $1.72 annualized dividend and a yield of 10.87%. Alon USA Partners’s payout ratio is presently 121.74%.
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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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