Piper Jaffray Maintains Alon USA Energy to Underweight with Price Target $6.00

Brokerage firm Piper Jaffray Maintains its rating on Alon USA Energy(NYSE:ALJ). In a research note issued to the investors, the brokerage major Raises the price-target to $6.00 per share. The shares have been rated Underweight. The rating by Piper Jaffray was issued on Sep 16, 2016.

In a different note, Citigroup said it Initiates Coverage on Alon USA Energy, according to a research note issued on Sep 14, 2016. The shares have been rated ‘Buy’ by the firm. On Aug 22, 2016, Piper Jaffray said it Maintains its rating on Alon USA Energy. In the research note, the firm Raises the price-target to $4.00 per share. The shares have been rated ‘Underweight’ by the firm. On Jul 13, 2016, Barclays said it Upgrades its rating on Alon USA Energy. In the research note, the firm Lowers the price-target to $10.00 per share. The shares have been rated ‘Equal-weight’ by the firm.

Alon USA Energy (ALJ) made into the market gainers list on Thursdays trading session with the shares advancing 0.83% or 0.07 points. Due to strong positive momentum, the stock ended at $8.47, which is also near the day’s high of $8.66. The stock began the session at $8.52 and the volume stood at 8,45,119 shares. The 52-week high of the shares is $19.84 and the 52 week low is $5.86. The company has a current market capitalization of $605 M and it has 7,14,11,430 shares in outstanding.

Alon USA Energy(ALJ) last announced its earnings results on Jul 28, 2016 for Fiscal Year 2016 and Q2.Company reported revenue of $1.01B. Analysts had an estimated revenue of $854.60M. Earnings per share were $-0.21. Analysts had estimated an EPS of $-0.16.

Several Insider Transactions has been reported to the SEC. On Aug 24, 2016, David Wiessman (Executive Director) sold 70,000 shares at $7.30 per share price.Also, 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.

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