Alon USA Energy, Inc. (NYSE:alj) announced a quarterly dividend on Monday, May 8th, NASDAQ reports. Investors of record on Monday, May 22nd will be given a dividend of 0.15 per share by the oil and gas company on Thursday, June 8th. This represents a $0.60 annualized dividend and a yield of 4.44%. The ex-dividend date is Thursday, May 18th.
Alon USA Energy has raised its dividend payment by an average of 39.7% per year over the last three years and has increased its dividend annually for the last 4 consecutive years. Alon USA Energy has a payout ratio of 400.0% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research analysts expect Alon USA Energy to earn ($0.18) per share next year, which means the company may not be able to cover its $0.60 annual dividend with an expected future payout ratio of -333.3%.
Shares of Alon USA Energy (NYSE:ALJ) traded up 4.98% on Friday, reaching $13.50. 1,312,372 shares of the company’s stock traded hands. The stock has a 50-day moving average price of $12.71 and a 200-day moving average price of $11.94. The company’s market cap is $965.20 million. Alon USA Energy has a 12-month low of $5.86 and a 12-month high of $13.97.
Alon USA Energy (NYSE:ALJ) last released its quarterly earnings results on Monday, May 8th. The oil and gas company reported $0.12 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.15) by $0.27. Alon USA Energy had a negative net margin of 0.95% and a negative return on equity of 4.53%. The business had revenue of $1.15 billion for the quarter, compared to analysts’ expectations of $1.07 billion. During the same period last year, the business earned ($0.42) EPS. The company’s revenue was up 35.4% compared to the same quarter last year. Equities research analysts anticipate that Alon USA Energy will post ($0.11) EPS for the current fiscal year.
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An institutional investor recently raised its position in Alon USA Energy stock. State Street Corp increased its position in Alon USA Energy, Inc. (NYSE:ALJ) by 83.0% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 1,241,011 shares of the oil and gas company’s stock after buying an additional 562,965 shares during the period. State Street Corp owned 1.74% of Alon USA Energy worth $15,131,000 as of its most recent filing with the SEC. 49.75% of the stock is owned by institutional investors.
A number of research firms have recently weighed in on ALJ. TheStreet upgraded shares of Alon USA Energy from a “d+” rating to a “c” rating in a report on Monday, May 8th. Citigroup Inc. restated a “buy” rating and issued a $14.50 price target (down from $16.00) on shares of Alon USA Energy in a report on Saturday, April 22nd. Credit Suisse Group cut shares of Alon USA Energy from an “outperform” rating to a “neutral” rating and lowered their target price for the stock from $13.00 to $12.00 in a research note on Friday, March 24th. Finally, Zacks Investment Research cut shares of Alon USA Energy from a “buy” rating to a “hold” rating in a research note on Tuesday, February 28th. Five analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $11.50.
Alon USA Energy Company Profile
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 segments include refining and marketing, asphalt and retail. Its refineries produce petroleum products, including various grades of gasoline, diesel, jet fuel, petrochemicals, petrochemical feedstocks, asphalt, and other petroleum-based products.
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