Western Refining Inc. (WNR) Trading Up 6.5%
Western Refining Inc. (NYSE:WNR) was up 6.5% on Friday . The stock traded as high as $20.82 and last traded at $20.80, with a volume of 2,483,129 shares. The stock had previously closed at $19.53.
Several equities research analysts have weighed in on WNR shares. Simmons lowered their price target on Western Refining from $30.00 to $27.00 in a report on Tuesday, April 12th. Tudor Pickering upgraded Western Refining from a “sell” rating to a “hold” rating in a research note on Tuesday, June 28th. Zacks Investment Research cut Western Refining from a “hold” rating to a “strong sell” rating in a research note on Tuesday. JPMorgan Chase & Co. cut Western Refining from a “neutral” rating to an “underweight” rating and reduced their price objective for the stock from $28.00 to $20.00 in a research note on Friday, June 10th. Finally, Barclays PLC reduced their price objective on Western Refining from $39.00 to $36.00 and set an “overweight” rating for the company in a research note on Friday, April 8th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $38.50.
The company’s 50 day moving average price is $20.77 and its 200-day moving average price is $27.12. The firm has a market capitalization of $1.87 billion and a price-to-earnings ratio of 5.82.
Western Refining (NYSE:WNR) last released its quarterly earnings data on Tuesday, May 3rd. The company reported $0.13 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.19 by $0.06. The firm earned $1.46 billion during the quarter, compared to analyst estimates of $1.90 billion. The business’s quarterly revenue was down 37.2% on a year-over-year basis. During the same period in the prior year, the company posted $1.18 earnings per share. On average, equities analysts anticipate that Western Refining Inc. will post $1.52 EPS for the current fiscal year.
In other news, major shareholder Paul L. Foster bought 500,000 shares of the firm’s stock in a transaction that occurred on Friday, May 13th. The stock was purchased at an average cost of $21.60 per share, with a total value of $10,800,000.00. Following the transaction, the insider now directly owns 3,430,619 shares in the company, valued at $74,101,370.40. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Brian John Hogan bought 10,000 shares of the firm’s stock in a transaction that occurred on Friday, May 27th. The stock was purchased at an average cost of $21.37 per share, with a total value of $213,700.00. Following the completion of the transaction, the director now owns 78,463 shares in the company, valued at $1,676,754.31. The disclosure for this purchase can be found here.
Several hedge funds have recently made changes to their positions in WNR. Boston Partners boosted its stake in shares of Western Refining by 5.2% in the fourth quarter. Boston Partners now owns 3,376,383 shares of the company’s stock worth $120,267,000 after buying an additional 167,211 shares during the period. Wells Fargo & Company MN boosted its stake in Western Refining by 17.0% in the fourth quarter. Wells Fargo & Company MN now owns 1,024,455 shares of the company’s stock worth $36,491,000 after buying an additional 148,625 shares during the last quarter. Jennison Associates LLC boosted its stake in Western Refining by 4.7% in the fourth quarter. Jennison Associates LLC now owns 979,211 shares of the company’s stock worth $34,879,000 after buying an additional 43,775 shares during the last quarter. Jennison Associates boosted its stake in Western Refining by 0.5% in the third quarter. Jennison Associates now owns 935,436 shares of the company’s stock worth $41,271,000 after buying an additional 4,207 shares during the last quarter. Finally, Russell Frank Co boosted its stake in Western Refining by 538.2% in the fourth quarter. Russell Frank Co now owns 527,590 shares of the company’s stock worth $18,565,000 after buying an additional 444,928 shares during the last quarter.
Western Refining, Inc (Western) is an independent crude oil refiner and marketer of refined products. The Company operates through four business segments: refining, Northern Tier Energy LP (NTI), Western Refining Logistics, LP (WNRL) and retail. The Company’s refining segment owns and operates two refineries in the Southwest that process crude oil and other feedstocks primarily into gasoline, diesel fuel, jet fuel and asphalt.
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