Western Refining Inc. (WNR) Shares Down 2.9%
Western Refining Inc. (NYSE:WNR)’s share price was down 2.9% on Wednesday . The company traded as low as $20.29 and last traded at $20.57, with a volume of 1,836,531 shares traded. The stock had previously closed at $21.18.
A number of equities analysts recently weighed in on WNR shares. JPMorgan Chase & Co. lowered shares of Western Refining from a “neutral” rating to an “underweight” rating and dropped their target price for the stock from $28.00 to $20.00 in a research report on Friday, June 10th. Tudor Pickering lowered shares of Western Refining from a “hold” rating to a “sell” rating in a research report on Tuesday, April 19th. Zacks Investment Research lowered shares of Western Refining from a “hold” rating to a “strong sell” rating in a research report on Tuesday, July 5th. Barclays PLC dropped their target price on shares of Western Refining from $39.00 to $36.00 and set an “overweight” rating for the company in a research report on Friday, April 8th. Finally, Simmons restated a “hold” rating and set a $26.00 target price (down previously from $27.00) on shares of Western Refining in a research report on Wednesday, May 4th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and three have given a buy rating to the company. Western Refining has a consensus rating of “Hold” and an average target price of $38.50.
The company has a market cap of $1.89 billion and a P/E ratio of 5.90. The company has a 50-day moving average of $20.52 and a 200-day moving average of $26.64.
Western Refining (NYSE:WNR) last issued its quarterly earnings results on Tuesday, May 3rd. The company reported $0.13 EPS for the quarter, missing the consensus estimate of $0.19 by $0.06. During the same period in the previous year, the firm posted $1.18 earnings per share. The company had revenue of $1.46 billion for the quarter, compared to the consensus estimate of $1.90 billion. The business’s quarterly revenue was down 37.2% compared to the same quarter last year. On average, analysts forecast that Western Refining Inc. will post $1.37 earnings per share for the current fiscal year.
In related news, major shareholder Paul L. Foster purchased 500,000 shares of the business’s stock in a transaction that occurred on Friday, May 13th. The stock was bought at an average price of $21.60 per share, with a total value of $10,800,000.00. Following the acquisition, the insider now owns 3,430,619 shares in the company, valued at $74,101,370.40. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Brian John Hogan purchased 10,000 shares of the business’s stock in a transaction that occurred on Friday, May 27th. The stock was bought at an average cost of $21.37 per share, with a total value of $213,700.00. Following the acquisition, the director now owns 78,463 shares in the company, valued at approximately $1,676,754.31. The disclosure for this purchase can be found here.
Several large investors have added to or reduced their stakes in the company. Foresters Investment Management Company Inc. raised its stake in Western Refining by 1.0% in the fourth quarter. Foresters Investment Management Company Inc. now owns 199,500 shares of the company’s stock worth $7,106,000 after buying an additional 2,000 shares during the last quarter. Jennison Associates LLC raised 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. Trexquant Investment LP raised its stake in Western Refining by 166.2% in the fourth quarter. Trexquant Investment LP now owns 158,900 shares of the company’s stock worth $5,660,000 after buying an additional 99,200 shares during the last quarter. Systematic Financial Management LP raised its stake in Western Refining by 9.1% in the fourth quarter. Systematic Financial Management LP now owns 242,289 shares of the company’s stock worth $8,630,000 after buying an additional 20,225 shares during the last quarter. Finally, Marshall Wace LLP acquired a new stake in Western Refining during the fourth quarter worth about $1,613,000.
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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