Barclays PLC lowered shares of Western Refining Inc. (NYSE:WNR) from an overweight rating to an equal weight rating in a report published on Monday. The brokerage currently has $30.00 price objective on the stock, up from their prior price objective of $29.00.
WNR has been the topic of several other reports. Piper Jaffray Cos. lifted their price objective on Western Refining from $16.00 to $19.00 and gave the company a neutral rating in a research report on Monday, August 22nd. Morgan Stanley set a $21.00 price objective on Western Refining and gave the company a hold rating in a research report on Wednesday, August 3rd. Credit Suisse Group AG lifted their price objective on Western Refining from $27.00 to $31.00 and gave the company an outperform rating in a research report on Monday, September 19th. Tudor Pickering raised Western Refining from a sell rating to a hold rating in a research report on Tuesday, June 28th. Finally, Zacks Investment Research cut Western Refining from a hold rating to a strong sell rating in a research report on Tuesday, July 5th. Ten research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Western Refining presently has a consensus rating of Hold and an average price target of $30.20.
Western Refining (NYSE:WNR) opened at 27.40 on Monday. The company’s 50-day moving average price is $26.55 and its 200-day moving average price is $23.96. Western Refining has a 1-year low of $18.14 and a 1-year high of $47.55. The firm has a market capitalization of $2.97 billion, a P/E ratio of 9.74 and a beta of 1.63.
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, topping the Thomson Reuters’ consensus estimate of $0.51 by $0.21. The company had revenue of $2.11 billion for the quarter, compared to analysts’ expectations of $2.11 billion. Western Refining had a return on equity of 10.65% and a net margin of 3.20%. Western Refining’s quarterly revenue was down 25.5% on a year-over-year basis. During the same period last year, the firm earned $1.44 earnings per share. Equities research analysts expect that Western Refining will post $1.30 earnings per share for the current fiscal year.
In other news, CEO Jeff A. Stevens acquired 100,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 24th. The stock was bought at an average cost of $23.25 per share, for a total transaction of $2,325,000.00. Following the acquisition, the chief executive officer now directly owns 3,474,156 shares in the company, valued at $80,774,127. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Chairman Paul L. Foster acquired 325,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 9th. The stock was purchased at an average price of $23.59 per share, with a total value of $7,666,750.00. Following the completion of the acquisition, the chairman now owns 3,109,466 shares in the company, valued at $73,352,302.94. The disclosure for this purchase can be found here. 26.50% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. raised its position in shares of Western Refining by 5.8% in the second quarter. Vanguard Group Inc. now owns 8,214,844 shares of the company’s stock worth $169,472,000 after buying an additional 447,699 shares during the last quarter. State Street Corp raised its stake in shares of Western Refining by 27.5% in the second quarter. State Street Corp now owns 4,338,337 shares of the company’s stock worth $89,500,000 after buying an additional 936,599 shares in the last quarter. BlackRock Fund Advisors raised its stake in shares of Western Refining by 11.4% in the second quarter. BlackRock Fund Advisors now owns 3,863,714 shares of the company’s stock worth $79,708,000 after buying an additional 396,751 shares in the last quarter. Prudential Financial Inc. raised its stake in shares of Western Refining by 46.9% in the second quarter. Prudential Financial Inc. now owns 3,791,097 shares of the company’s stock worth $78,210,000 after buying an additional 1,210,995 shares in the last quarter. Finally, BlackRock Institutional Trust Company N.A. raised its stake in shares of Western Refining by 18.2% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 2,505,222 shares of the company’s stock worth $51,683,000 after buying an additional 385,113 shares in the last quarter. Institutional investors own 65.14% of the company’s stock.
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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