Alon USA Energy (ALJ) was Initiated by Citigroup to “Buy”. Citigroup advised their investors in a research report released on Sep 14, 2016.
On the company’s financial health, Alon USA Energy reported $-0.21 EPS for the quarter, beating the analyst consensus estimate by $ 0.01 according to the earnings call on Jul 28, 2016. Analyst had a consensus of $-0.22. The company had revenue of $1008.39 million for the quarter, 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.
Alon USA Energy opened for trading at $7.91 and hit $8.225 on the upside on Monday, eventually ending the session at $8.2, with a gain of 2.37% or 0.19 points. The heightened volatility saw the trading volume jump to 2,000,953 shares. Company has a market cap of $586 M.
In a different news, on Aug 24, 2016, David Wiessman (Executive Director) sold 70,000 shares at $7.30 per share price. According to the SEC, on Aug 8, 2016, Michael Oster (Sr. VP-Mergers & Acquisitions) sold 18,500 shares at $7.33 per share price. On May 19, 2016, Franklin R. Wheeler (director) purchased 2,000 shares at $7.91 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.