JP Morgan Maintains Alon USA Energy to Neutral with Price Target $7.00

Brokerage firm JP Morgan Maintains its rating on Alon USA Energy(NYSE:ALJ). In a research note issued to the investors, the brokerage major Lowers the price-target to $7.00 per share. The shares have been rated Neutral. The rating by JP Morgan was issued on Jun 10, 2016.

In a different note, On Apr 8, 2016, Barclays said it Maintains its rating on Alon USA Energy. In the research note, the firm Lowers the price-target to $13.00 per share. The shares have been rated ‘Underweight’ by the firm.

Alon USA Energy (ALJ) made into the market gainers list on Wednesdays trading session with the shares advancing 1.07% or 0.07 points. Due to strong positive momentum, the stock ended at $6.64, which is also near the day’s high of $6.87. The stock began the session at $6.55 and the volume stood at 18,07,404 shares. The 52-week high of the shares is $23.29 and the 52 week low is $6.355. The company has a current market capitalization of $473 M and it has 7,11,93,155 shares in outstanding.

Alon USA Energy(ALJ) last announced its earnings results on May 4, 2016 for Fiscal Year 2016 and Q1.Company reported revenue of $849.97M. Analysts had an estimated revenue of $913.98M. Earnings per share were $-0.42. Analysts had estimated an EPS of $-0.32.

Several Insider Transactions has been reported to the SEC. On May 19, 2016, Franklin R. Wheeler (director) purchased 2,000 shares at $7.91 per share price.Also, 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.

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