Shares of Western Refining Inc. (NYSE:WNR) have been assigned an average rating of “Hold” from the thirteen brokerages that are presently covering the stock. Nine investment analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 1 year price target among analysts that have covered the stock in the last year is $28.14.
WNR has been the subject of several analyst reports. Piper Jaffray Cos. upped their price objective on Western Refining from $19.00 to $23.00 and gave the stock an “overweight” rating in a research report on Friday, September 16th. Credit Suisse Group AG reaffirmed an “outperform” rating on shares of Western Refining in a research report on Tuesday, September 6th. Zacks Investment Research cut Western Refining from a “hold” rating to a “strong sell” rating in a research report on Tuesday, July 5th. Tudor Pickering raised Western Refining from a “sell” rating to a “hold” rating in a research report on Tuesday, June 28th. Finally, JPMorgan Chase & Co. cut Western Refining from a “neutral” rating to an “underweight” rating and lowered their price objective for the stock from $28.00 to $20.00 in a research report on Friday, June 10th.
In related news, Chairman Paul L. Foster acquired 325,000 shares of the firm’s stock in a transaction on Tuesday, August 9th. The stock was bought at an average cost of $23.59 per share, with a total value 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 acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Jeff A. Stevens acquired 100,000 shares of the firm’s stock in a transaction on Wednesday, August 24th. The shares were bought at an average cost of $23.25 per share, with a total value 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. 26.50% of the stock is owned by corporate insiders.
A number of hedge funds have recently bought and sold shares of WNR. Private Capital Management Inc. bought a new stake in Western Refining during the second quarter worth $124,000. Pacer Advisors Inc. bought a new stake in Western Refining during the second quarter worth $125,000. FineMark National Bank & Trust boosted its stake in Western Refining by 200.0% in the second quarter. FineMark National Bank & Trust now owns 7,500 shares of the company’s stock worth $155,000 after buying an additional 5,000 shares during the last quarter. Victory Capital Management Inc. boosted its stake in Western Refining by 17.6% in the second quarter. Victory Capital Management Inc. now owns 9,084 shares of the company’s stock worth $187,000 after buying an additional 1,358 shares during the last quarter. Finally, Acrospire Investment Management LLC bought a new stake in Western Refining during the first quarter worth $197,000. 65.13% of the stock is owned by institutional investors.
Western Refining (NYSE:WNR) opened at 26.46 on Wednesday. Western Refining has a 1-year low of $18.14 and a 1-year high of $47.55. The company has a market capitalization of $2.87 billion, a P/E ratio of 9.40 and a beta of 1.85. The firm has a 50-day moving average price of $25.62 and a 200 day moving average price of $24.05.
Western Refining (NYSE:WNR) last issued its quarterly earnings results on Tuesday, August 2nd. The company reported $0.72 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.51 by $0.21. Western Refining had a return on equity of 10.65% and a net margin of 3.20%. The company had revenue of $2.11 billion for the quarter, compared to the consensus estimate of $2.11 billion. During the same quarter in the prior year, the business earned $1.44 EPS. Western Refining’s revenue was down 25.5% on a year-over-year basis. On average, equities analysts predict that Western Refining will post $1.30 EPS for the current year.
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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