Essex Investment Management Co. LLC reduced its position in Alon USA Energy Inc. (NYSE:ALJ) by 1.2% during the second quarter, Holdings Channel reports. The institutional investor owned 67,877 shares of the company’s stock after selling 808 shares during the period. Essex Investment Management Co. LLC’s holdings in Alon USA Energy were worth $440,000 as of its most recent SEC filing.
A number of other institutional investors have also recently bought and sold shares of the company. Bank of Montreal Can purchased a new position in Alon USA Energy during the second quarter worth approximately $2,337,000. UBS Group AG raised its position in Alon USA Energy by 67.8% in the first quarter. UBS Group AG now owns 587,220 shares of the company’s stock worth $6,060,000 after buying an additional 237,365 shares in the last quarter. Squarepoint Ops LLC purchased a new position in Alon USA Energy during the first quarter worth approximately $822,000. Prudential Financial Inc. raised its position in Alon USA Energy by 18.1% in the first quarter. Prudential Financial Inc. now owns 480,431 shares of the company’s stock worth $4,958,000 after buying an additional 73,648 shares in the last quarter. Finally, Adams Asset Advisors LLC raised its position in Alon USA Energy by 176.1% in the second quarter. Adams Asset Advisors LLC now owns 102,444 shares of the company’s stock worth $663,000 after buying an additional 65,343 shares in the last quarter. 50.46% of the stock is owned by hedge funds and other institutional investors.
Alon USA Energy Inc. (NYSE:ALJ) traded down 0.95% on Friday, hitting $8.36. 881,823 shares of the stock were exchanged. The stock’s market capitalization is $593.39 million. The company has a 50 day moving average of $8.10 and a 200 day moving average of $8.16. Alon USA Energy Inc. has a one year low of $5.86 and a one year high of $18.27.
Alon USA Energy (NYSE:ALJ) last issued its earnings results on Thursday, July 28th. The company reported ($0.21) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.19) by $0.02. Alon USA Energy had a negative net margin of 1.75% and a negative return on equity of 2.29%. The firm earned $1.01 billion during the quarter, compared to the consensus estimate of $883.85 million. During the same period in the previous year, the company posted $0.67 EPS. The firm’s revenue for the quarter was down 22.5% on a year-over-year basis. On average, equities research analysts forecast that Alon USA Energy Inc. will post ($1.08) earnings per share for the current fiscal year.
ALJ has been the subject of a number of recent analyst reports. Piper Jaffray Cos. raised their price objective on shares of Alon USA Energy from $5.00 to $6.00 and gave the stock an “underweight” rating in a research note on Friday, September 16th. Zacks Investment Research raised shares of Alon USA Energy from a “sell” rating to a “hold” rating in a research note on Friday, August 19th. Finally, Citigroup Inc. initiated coverage on shares of Alon USA Energy in a research note on Wednesday, September 14th. They set a “buy” rating and a $10.50 target price for the company. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $9.19.
In other news, VP Michael Oster sold 18,500 shares of the company’s stock in a transaction that occurred on Friday, August 5th. The shares were sold at an average price of $7.33, for a total value of $135,605.00. Following the completion of the transaction, the vice president now owns 47,553 shares in the company, valued at $348,563.49. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider David Wiessman sold 175,000 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the insider now 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. 8.80% of the stock is currently owned by company insiders.
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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