Alon USA Energy (ALJ) : Traders are bullish on Alon USA Energy (ALJ) as it has outperformed the S&P 500 by a wide margin of 3.48% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 5.75%, relative to the S&P 500. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 5.68% in the last 1 week, and is up 6.96% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.
The stock has recorded a 20-day Moving Average of 7.61% and the 50-Day Moving Average is 1.56%. Alon USA Energy, Inc. has dropped 31.42% during the last 3-month period . Year-to-Date the stock performance stands at -50.76%.
Alon USA Energy (NYSE:ALJ): stock turned positive on Friday. Though the stock opened at $6.56, the bulls momentum made the stock top out at $7.165 level for the day. The stock recorded a low of $6.43 and closed the trading day at $7.07, in the green by 7.61%. The total traded volume for the day was 2,061,157. The stock had closed at $6.57 in the previous days trading.
Also, Barclays upgrades their rating on the shares of Alon USA Energy (NYSE:ALJ). The current rating of the shares is Equal-weight. Earlier, the shares were rated a Underweight by the brokerage firm. Equity Analysts at the Firm lowers the price target to $8 per share from $10 per share. The rating by the firm was issued on July 13, 2016.
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 Companys crude oil refineries are located in Texas, Louisiana and California and have a combined crude oil throughput capacity of approximately 217,000 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 Companys 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.