PNC Financial Services Group Inc. decreased its position in Western Refining Inc. (NYSE:WNR) by 67.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,536 shares of the company’s stock after selling 19,944 shares during the period. PNC Financial Services Group Inc.’s holdings in Western Refining were worth $196,000 at the end of the most recent quarter.
A number of other institutional investors also recently bought and sold shares of WNR. Private Capital Management Inc. acquired a new position in shares of Western Refining during the second quarter valued at about $124,000. Acrospire Investment Management LLC acquired a new position in shares of Western Refining during the first quarter valued at about $197,000. Adams Diversified Equity Fund Inc. acquired a new position in shares of Western Refining during the second quarter valued at about $204,000. Trellus Management Company LLC acquired a new position in shares of Western Refining during the second quarter valued at about $264,000. Finally, Moody National Bank Trust Division acquired a new position in shares of Western Refining during the second quarter valued at about $279,000. Hedge funds and other institutional investors own 65.13% of the company’s stock.
Shares of Western Refining Inc. (NYSE:WNR) traded up 2.80% on Wednesday, reaching $28.62. The company’s stock had a trading volume of 1,478,820 shares. Western Refining Inc. has a 12 month low of $18.14 and a 12 month high of $47.55. The firm has a market cap of $3.10 billion, a price-to-earnings ratio of 10.17 and a beta of 1.63. The stock has a 50 day moving average of $25.80 and a 200-day moving average of $23.96.
Western Refining (NYSE:WNR) last released its quarterly earnings results on Tuesday, August 2nd. The company reported $0.72 earnings per share for the quarter, topping the consensus estimate of $0.51 by $0.21. The firm had revenue of $2.11 billion for the quarter, compared to analysts’ expectations of $2.11 billion. Western Refining had a net margin of 3.20% and a return on equity of 10.65%. The business’s quarterly revenue was down 25.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.44 earnings per share. On average, analysts anticipate that Western Refining Inc. will post $1.30 EPS for the current year.
WNR has been the topic of several recent analyst reports. Morgan Stanley reiterated a “hold” rating and issued a $21.00 price target on shares of Western Refining in a research note on Thursday, September 1st. Tudor Pickering upgraded Western Refining from a “sell” rating to a “hold” rating in a research note on Tuesday, June 28th. Wells Fargo & Co. reiterated a “hold” rating on shares of Western Refining in a research note on Saturday, July 9th. Zacks Investment Research raised Western Refining from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 16th. Finally, Goldman Sachs Group Inc. began coverage on Western Refining in a report on Sunday, July 17th. They set a “hold” rating on the stock. Nine analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Western Refining has a consensus rating of “Hold” and a consensus price target of $30.80.
In other news, CEO Jeff A. Stevens bought 100,000 shares of Western Refining stock in a transaction that occurred on Wednesday, August 24th. The shares were acquired at an average price of $23.25 per share, with a total value of $2,325,000.00. Following the completion of the purchase, the chief executive officer now directly owns 3,474,156 shares in the company, valued at $80,774,127. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Chairman Paul L. Foster bought 325,000 shares of Western Refining stock in a transaction that occurred on Tuesday, August 9th. The stock was purchased at an average cost of $23.59 per share, for a total transaction of $7,666,750.00. Following the purchase, the chairman now owns 3,109,466 shares of the company’s stock, valued at $73,352,302.94. The disclosure for this purchase can be found here. 26.50% of the stock is owned by corporate insiders.
Western Refining Company Profile
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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