Western Refining Inc. (WNR) Trading Down 3.1%
Western Refining Inc. (NYSE:WNR)’s share price was down 3.1% during trading on Thursday . The stock traded as low as $19.80 and last traded at $19.86, with a volume of 1,998,517 shares. The stock had previously closed at $20.50.
Several equities research analysts have issued reports on WNR shares. Tudor Pickering downgraded Western Refining from a “hold” rating to a “sell” rating in a report on Tuesday, April 19th. Barclays PLC dropped their price objective on Western Refining from $39.00 to $36.00 and set an “overweight” rating on the stock in a report on Friday, April 8th. Zacks Investment Research downgraded Western Refining from a “hold” rating to a “strong sell” rating in a report on Tuesday, July 5th. JPMorgan Chase & Co. downgraded Western Refining from a “neutral” rating to an “underweight” rating and dropped their price objective for the stock from $28.00 to $20.00 in a report on Friday, June 10th. Finally, Goldman Sachs Group Inc. restated a “neutral” rating and set a $22.00 price objective on shares of Western Refining in a report on Thursday, July 14th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have issued a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $35.80.
The company has a 50-day moving average price of $20.28 and a 200 day moving average price of $26.10. The company has a market capitalization of $1.81 billion and a PE ratio of 5.65.
Western Refining (NYSE:WNR) last released its quarterly earnings results on Tuesday, May 3rd. The company reported $0.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.19 by $0.06. During the same period in the previous year, the business posted $1.18 EPS. The firm earned $1.46 billion during 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. Analysts anticipate that Western Refining Inc. will post $1.15 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, August 9th. Investors of record on Monday, July 25th will be paid a dividend of $0.38 per share. The ex-dividend date of this dividend is Thursday, July 21st. This represents a $1.52 annualized dividend and a yield of 7.65%.
In other Western Refining news, Director Robert J. Hassler bought 20,000 shares of the firm’s stock in a transaction that occurred on Friday, May 6th. The stock was purchased at an average price of $22.10 per share, for a total transaction of $442,000.00. Following the purchase, the director now directly owns 20,000 shares in the company, valued at $442,000. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Jeff A. Stevens bought 150,000 shares of the firm’s stock in a transaction that occurred on Monday, May 9th. The shares were acquired at an average price of $22.02 per share, with a total value of $3,303,000.00. Following the purchase, the chief executive officer now owns 3,377,609 shares in the company, valued at $74,374,950.18. The disclosure for this purchase can be found here.
A number of hedge funds have made changes to their positions in the stock. SECOR Capital Advisors LP increased its stake in shares of Western Refining by 54.9% in the fourth quarter. SECOR Capital Advisors LP now owns 32,082 shares of the company’s stock valued at $1,143,000 after buying an additional 11,377 shares during the last quarter. Cornerstone Capital Management Holdings LLC. increased its stake in shares of Western Refining by 75.1% in the fourth quarter. Cornerstone Capital Management Holdings LLC. now owns 44,821 shares of the company’s stock valued at $1,597,000 after buying an additional 19,221 shares during the last quarter. Marshall Wace LLP acquired a new stake in shares of Western Refining during the fourth quarter valued at $1,613,000. Deere & Co. increased its stake in shares of Western Refining by 25.5% in the fourth quarter. Deere & Co. now owns 51,036 shares of the company’s stock valued at $1,818,000 after buying an additional 10,372 shares during the last quarter. Finally, GSA Capital Partners LLP increased its stake in shares of Western Refining by 50.1% in the fourth quarter. GSA Capital Partners LLP now owns 68,870 shares of the company’s stock valued at $2,453,000 after buying an additional 22,981 shares during the last quarter.
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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