BidaskClub upgraded shares of Alon USA Partners, LP (NYSE:ALDW) from a sell rating to a hold rating in a report released on Tuesday morning.
Several other research firms have also recently weighed in on ALDW. Citigroup Inc. boosted their price objective on Alon USA Partners, from $12.00 to $14.00 and gave the stock a buy rating in a research report on Monday, July 17th. Tudor Pickering reissued a hold rating on shares of Alon USA Partners, in a research report on Thursday, July 13th. Credit Suisse Group raised Alon USA Partners, from a neutral rating to an outperform rating and boosted their price objective for the stock from $11.00 to $12.00 in a research report on Friday, April 21st. Stifel Nicolaus raised Alon USA Partners, from a market perform rating to an outperform rating and set a $12.00 price objective on the stock in a research report on Friday, April 21st. Finally, Barclays PLC reissued an equal weight rating and issued a $12.00 price objective on shares of Alon USA Partners, in a research report on Wednesday, July 5th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The stock has a consensus rating of Buy and a consensus target price of $11.70.
Alon USA Partners, (NYSE ALDW) traded down 0.09% on Tuesday, reaching $11.08. The company’s stock had a trading volume of 290,040 shares. Alon USA Partners, has a 12 month low of $7.63 and a 12 month high of $12.72. The firm has a 50 day moving average of $11.15 and a 200 day moving average of $10.27. The firm has a market cap of $692.82 million, a price-to-earnings ratio of 15.47 and a beta of 1.06.
Alon USA Partners, (NYSE:ALDW) last posted its quarterly earnings data on Thursday, July 27th. The oil and gas company reported $0.35 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.42 by $0.07. Alon USA Partners, had a return on equity of 40.06% and a net margin of 2.20%. The business had revenue of $521.75 million during the quarter, compared to analysts’ expectations of $436.80 million. During the same period in the prior year, the firm posted $0.02 EPS. Analysts anticipate that Alon USA Partners, will post $1.03 earnings per share for the current year.
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The company also recently announced a quarterly dividend, which will be paid on Thursday, August 24th. Shareholders of record on Thursday, August 17th will be paid a $0.35 dividend. The ex-dividend date of this dividend is Tuesday, August 15th. This represents a $1.40 annualized dividend and a dividend yield of 12.64%. Alon USA Partners,’s payout ratio is presently 214.09%.
Several hedge funds have recently modified their holdings of ALDW. Acrospire Investment Management LLC raised its stake in shares of Alon USA Partners, by 683.7% in the second quarter. Acrospire Investment Management LLC now owns 9,514 shares of the oil and gas company’s stock valued at $100,000 after buying an additional 8,300 shares during the last quarter. Virtu KCG Holdings LLC bought a new stake in Alon USA Partners, during the second quarter worth about $148,000. Russell Investments Group Ltd. bought a new stake in Alon USA Partners, during the second quarter worth about $173,000. Nine Chapters Capital Management LLC bought a new stake in Alon USA Partners, during the first quarter worth about $321,000. Finally, Acadian Asset Management LLC bought a new stake in Alon USA Partners, during the second quarter worth about $544,000. Hedge funds and other institutional investors own 6.76% of the company’s stock.
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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