ALJ: Alon USA Energy, Inc. Instablogs

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Monday, May 13, 3:21 PM Credit Suisse cites Alon USA Energy (ALJ), Alon USA Partners (ALDW) and Delek (DK) as refiners deserving raises. The firm likes Alon's projects, though still in development stage, which should aid recovery of liquefied petroleum gasses, distillate recovery and increasing throughputs at the Big Spring, Tex., refinery and drive EBITDA growth over time. 1 Comment [Energy, Quick Ideas]
Wednesday, May 8, 6:06 PM Alon USA Energy (ALJ): Q1 EPS of $0.86 beats by $0.31. Revenue of $1.665B beats by $0.14B. (PR) Comment! [Earnings, Breaking News]
Wednesday, May 8, 12:10 AM Notable earnings after Wednesday’s close: AHT, ALJ, ATLS, ATVI, AVNR, CF, CLNE, CLR, CTL, CTRP, CUZ, CXW, DEPO, DK, ERII, ETE, ETP, GMCR, GRPN, GSS, HALO, HEK, HNSN, JOE, LPSN, MBLX, MDR, MED, MIDD, MM, MNST, MNTX, MWE, NWSA, OSUR, PPO, PVA, QTM, RAX, RGP, RIG, RST, SGMO, SPRD, SSRI, STEC, SXL, SZYM, TCAP, TSLA, WR, XTEX Comment! [Earnings]
Tuesday, May 7, 5:35 PM Notable earnings after Wednesday’s close: AHT, ALJ, ATLS, ATVI, AVNR, CF, CLNE, CLR, CTL, CTRP, CUZ, CXW, DEPO, DK, ERII, ETE, ETP, GMCR, GRPN, GSS, HALO, HEK, HNSN, JOE, LPSN, MBLX, MDR, MED, MIDD, MM, MNST, MNTX, MWE, NWSA, OSUR, PPO, PVA, QTM, RAX, RGP, RIG, RST, SGMO, SPRD, SSRI, STEC, SXL, SZYM, TCAP, TSLA, WR, XTEX Comment! [Earnings]
Monday, May 6, 6:30 PM All but three refiners are net-cash today, with average free-cash yield of ~11% on mid-cycle earnings whose managements have substantial firepower to defend against share-price weakness, Credit Suisse notes, finding the most value in Marathon Petroleum (MPC) and Tesoro (TSO); it reinstates Valero (VLO) at Neutral. Also, Western Refining (WNR) is upgraded, and Alon USA (ALJ) is cut to Underperform. 1 Comment [Energy, Quick Ideas]
Wednesday, April 17, 5:50 PM Deutsche Bank lowers its stock target prices on several refiners, expecting weak margins to weigh on earnings in Q2 and in 2013 as producing gasoline gets less profitable. The new target for Buy-rated Holly Frontier (HFC) is $58, down from $68. Hold-rated refiners with reduced targets: ALJ, CLMT, CVI, DK, MPC, PBF, PSX, TSO, VLO, WNR. Comment! [Energy, Quick Ideas]
Thursday, April 11, 3:33 PM Phillips 66 (PSX -2.9%) shares slump as it reports an emission at its Rodeo refinery in California related to an unplanned unit shutdown. It's part of a broad slump in refiners today, picking up pessimism in the sector which has led to sharp recent losses: VLO -4.8% (despite a plug by Jim Cramer), HFC -4.4%, TSO -3.3%, MPC -3.2%, WNR -2.9%, CVI -2.4%, ALJ -2.3%, NTI -2.2%. 4 Comments [Energy, On the Move]
Monday, April 8, 9:43 AM Alon USA Energy (ALJ +0.8%) estimates the capital investment associated with upgrades on its refineries at Krotz Springs, La., and Big Springs, Tex., to meet the EPA's proposed Tier-3 standards will total less than $30M; increased operating costs associated with the incremental desulfurization processes are not expected to be material to its performance. ALDW +0.8%. 2 Comments [Energy]
Thursday, April 4, 2:35 PM Cowen's Sam Margolin notes gasoline margins have fallen 35% since March 8, which may keep refiner stocks volatile near-term, but he likes the medium-term picture as prices stabilize. Top drivers of refining stock performance over the past two years - accelerated return of cash, monetization of secondary assets, feedstock cost advantages vs. competing global refineries - remain in place for the coming year. 5 Comments [Energy]
Thursday, April 4, 12:34 PM Refiners recoup a sliver of losses from their two-day slide following concerns about looming expenses from newly announced emissions regulations. Barclays believes refiners are fundamentally cheap for long-term investors, the EPA's new rules are "not as bad as it seems" and the Brent/WTI spread should widen. VLO +1.1%, TSO +0.6%, WNR +3.9%, MPC +1.5%, ALJ +3.1%, HFC +1.3%, CVI +1.8%. 4 Comments [Energy, On the Move]
Wednesday, April 3, 5:15 PM Most troubling for refiners amid a two-day rout: Crack spreads have tumbled recently, with gasoline at a premium of $29.81/bbl to WTI today; it was $33 a week ago. As Bloomberg notes, the narrowing is due to a decline in gasoline prices, which hurts refiners: "People are factoring in some refineries coming back online, and we’ve yet to see any pick-up in demand,” one analyst says. 7 Comments [Energy]
Wednesday, April 3, 11:17 AM Looks like another bad day for refiners on fears of increased costs from tougher standards on gasoline, even as BAML says yesterday's selloff of Valero (VLO -4.8%) was overdone. WNR -7.6%, PSX -6.9%, MPC -6.2%, ALJ -6.1%, NTI -5.3%, TSO -4.7%, HFC -4.7%. CVR Refining (CVRR -1.5%) is lower even after announcing estimated costs to meet Tier 3 standards are less than $20M. 21 Comments [Energy, On the Move]
Tuesday, April 2, 3:13 PM Valero (VLO -6%) says proposed new rules aimed at reducing sulfur content in gasoline would cost it hundreds of millions of dollars in equipment construction and upgrades alone. In addition to spending $300M-$400M initially to implement the rule, VLO also predicts operating costs would rise by an undetermined amount every year due to the rules proposed Friday by the EPA. (earlier) 53 Comments [Energy, On the Move]
Tuesday, April 2, 2:29 PM Shares of refiners are taking a beating today, apparently on fears of increased costs from proposed tougher standards on gasoline. The EPA is proposing the so-called Tier 3 rules that will require refiners to reduce the sulfur content of gasoline to 10 parts per million by 2017 from 30 ppm. VLO -6.2%, TSO -3.5%, MPC -4.3%, ALJ -4.5%, PSX -3.1%, HFC -3.2%, WNR -4.8%, NTI -5.5%. 39 Comments [Energy, On the Move]
Thursday, March 7, 4:05 AM Alon USA Energy (ALJ): Q4 EPS of $0.58 beats by $0.01. Revenue of $1.95B beats by $100M. (PR) Comment! [Earnings, Breaking News, Energy]
Wednesday, March 6, 12:10 AM Notable earnings after Wednesday’s close: ALJ, AMTG, CODI, DK, DRYS, ERII, NQ, PETM, PNY, TCAP Comment! [Earnings]

ALJ Alon USA Energy, Inc.

ALJ

Alon USA Energy, Inc.