Other analysts also recently issued reports about the company. Citigroup Inc. initiated coverage on Alon USA Energy in a research report on Wednesday, September 14th. They set a buy rating and a $10.50 target price on the stock. Barclays PLC upgraded Alon USA Energy from an underweight rating to an equal weight rating and decreased their target price for the stock from $10.00 to $8.00 in a research report on Wednesday, July 13th. Zacks Investment Research upgraded Alon USA Energy from a sell rating to a hold rating in a research report on Tuesday, September 20th. Finally, Wells Fargo & Co. reiterated a hold rating on shares of Alon USA Energy in a research report on Sunday, July 10th. Three research analysts have rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the stock. The stock has an average rating of Hold and a consensus target price of $9.44.
Alon USA Energy (NYSE:ALJ) traded down 2.21% during trading on Tuesday, hitting $8.87. The stock had a trading volume of 228,985 shares. The stock’s 50-day moving average is $8.18 and its 200 day moving average is $8.11. Alon USA Energy has a one year low of $5.86 and a one year high of $18.27. The firm’s market cap is $629.59 million.
Alon USA Energy (NYSE:ALJ) last posted its quarterly earnings results on Thursday, July 28th. The company reported ($0.21) earnings per share for the quarter, missing the Zacks’ 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 business earned $1.01 billion during the quarter, compared to analysts’ expectations of $883.85 million. During the same quarter last year, the firm earned $0.67 earnings per share. The firm’s quarterly revenue was down 22.5% compared to the same quarter last year. Equities analysts anticipate that Alon USA Energy will post ($1.08) earnings per share for the current year.
In related news, insider David Wiessman sold 105,000 shares of the company’s stock in a transaction on Friday, August 26th. The stock was sold at an average price of $7.33, for a total value of $769,650.00. Following the completion of the transaction, the insider now directly owns 2,580,541 shares in the company, valued at $18,915,365.53. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Michael Oster sold 18,500 shares of the company’s stock in a transaction 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 of the company’s stock, valued at $348,563.49. The disclosure for this sale can be found here. 8.80% of the stock is owned by insiders.
A number of institutional investors have recently added to or reduced their stakes in the stock. Point72 Asset Management L.P. raised its position in Alon USA Energy by 67.2% in the second quarter. Point72 Asset Management L.P. now owns 1,876,200 shares of the company’s stock valued at $12,158,000 after buying an additional 753,800 shares during the last quarter. Ameriprise Financial Inc. raised its position in Alon USA Energy by 202.5% in the second quarter. Ameriprise Financial Inc. now owns 937,153 shares of the company’s stock valued at $6,072,000 after buying an additional 627,363 shares during the last quarter. Deprince Race & Zollo Inc. acquired a new position in Alon USA Energy during the second quarter valued at approximately $4,031,000. Bank of Montreal Can acquired a new position in Alon USA Energy during the second quarter valued at approximately $2,337,000. Finally, A.R.T. Advisors LLC acquired a new position in Alon USA Energy during the second quarter valued at approximately $2,289,000. Hedge funds and other institutional investors own 50.46% of the company’s stock.
About Alon USA Energy
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.
Receive News & Ratings for Alon USA Energy Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Alon USA Energy Inc. and related companies with MarketBeat.com's FREE daily email newsletter.