ING Groep NV bought a new position in shares of Western Refining Inc. (NYSE:WNR) during the second quarter, Holdings Channel reports. The fund bought 901,289 shares of the company’s stock, valued at approximately $18,594,000.
Several other large investors have also made changes to their positions in WNR. Acrospire Investment Management LLC purchased a new position in Western Refining during the first quarter valued at about $197,000. Adams Diversified Equity Fund Inc. purchased a new position in Western Refining during the second quarter valued at about $204,000. Virginia Retirement System purchased a new position in Western Refining during the first quarter valued at about $355,000. Trellus Management Company LLC purchased a new position in Western Refining during the second quarter valued at about $264,000. Finally, Americafirst Capital Management LLC purchased a new position in Western Refining during the second quarter valued at about $288,000. 65.13% of the stock is owned by institutional investors and hedge funds.
Western Refining Inc. (NYSE:WNR) traded down 5.20% during mid-day trading on Thursday, hitting $25.35. 5,371,427 shares of the stock traded hands. Western Refining Inc. has a 12-month low of $18.14 and a 12-month high of $47.55. The stock has a 50 day moving average price of $25.46 and a 200 day moving average price of $24.06. The firm has a market cap of $2.75 billion, a PE ratio of 9.01 and a beta of 1.85.
Western Refining (NYSE:WNR) last posted its earnings results on Tuesday, August 2nd. The company reported $0.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.51 by $0.21. The firm earned $2.11 billion during the quarter, compared to analyst estimates of $2.11 billion. Western Refining had a net margin of 3.20% and a return on equity of 10.65%. Western Refining’s revenue was down 25.5% on a year-over-year basis. During the same period in the previous year, the business posted $1.44 EPS. On average, analysts expect that Western Refining Inc. will post $1.30 earnings per share for the current fiscal year.
Several research analysts recently issued reports on WNR shares. Piper Jaffray Cos. increased their price target on shares of Western Refining from $16.00 to $19.00 and gave the stock a “neutral” rating in a report on Monday, August 22nd. Morgan Stanley set a $21.00 price target on shares of Western Refining and gave the stock a “hold” rating in a report on Wednesday, August 3rd. Credit Suisse Group AG increased their price target on shares of Western Refining from $27.00 to $31.00 and gave the stock an “outperform” rating in a report on Monday, September 19th. Tudor Pickering raised shares of Western Refining from a “sell” rating to a “hold” rating in a report on Tuesday, June 28th. Finally, Zacks Investment Research cut shares of Western Refining from a “hold” rating to a “strong sell” rating in a report on Tuesday, July 5th. Nine research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $30.80.
In related news, Chairman Paul L. Foster purchased 325,000 shares of the company’s stock in a transaction on Tuesday, August 9th. The shares were bought at an average cost of $23.59 per share, for a total transaction of $7,666,750.00. Following the transaction, the chairman now owns 3,109,466 shares of the company’s stock, valued at $73,352,302.94. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Jeff A. Stevens purchased 100,000 shares of the company’s stock in a transaction on Wednesday, August 24th. The shares were bought at an average price of $23.25 per share, for a total transaction of $2,325,000.00. Following the completion of the transaction, the chief executive officer now directly owns 3,474,156 shares in the company, valued at approximately $80,774,127. The disclosure for this purchase can be found here. Company insiders own 26.50% of the company’s stock.
About Western Refining
Western Refining, Inc (Western) is a crude oil refiner and marketer of refined products. The Company operates through four segments: refining, Northern Tier Energy LP (NTI), Western Refining Logistics, LP (WNRL) and retail. Its refining segment owns and operates over two refineries in the Southwest that process crude oil and other feedstocks into gasoline, diesel fuel, jet fuel and asphalt.
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