Alon USA Energy (ALJ) reported quarterly earnings results on Thursday, Jul-28-2016. The company said it had a profit of $-0.21 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.01. Analysts had a consensus of $-0.22. The company posted revenue of $1008.39 million in the period, compared to analysts expectations of $880.88 million. The company’s revenue was down -22.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.67 EPS.
Many Wall Street Analysts have commented on Alon USA Energy. Shares were Reiterated by Cowen on May 5, 2016 to “Market Perform” and Lowered the Price Target to $ 10 from a previous price target of $14 .
Alon USA Energy closed down -0.23 points or -3.38% at $6.57 with 12,35,206 shares getting traded on Thursday. Post opening the session at $6.75, the shares hit an intraday low of $6.56 and an intraday high of $6.85 and the price fluctuated in this range throughout the day.Shares ended Thursday session in Red.
In a different news, on May 19, 2016, Franklin R. Wheeler (director) purchased 2,000 shares at $7.91 per share price. According to the SEC, on May 19, 2016, Michael Oster (Sr. VP-Mergers & Acquisitions) sold 47,000 shares at $8.18 per share price. On Nov 9, 2015, Jeff D Morris (Executive Director) sold 25,000 shares at $16.82 per share price, according to the Form-4 filing with the securities and exchange commission.
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’s crude oil refineries are located in Texas Louisiana and California and have a combined crude oil throughput capacity of approximately 217000 barrels per day (bpd). The Company has three operating 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. The Company’s refining and marketing segment includes sour crude oil refinery located in Big Spring Texas a light sweet crude oil refinery located in Krotz Springs Louisiana and heavy crude oil refineries located in Paramount Bakersfield and Long Beach California. The Company owns or operates approximately 10 asphalt terminals.