Investors Sell Shares of Western Refining Inc. (WNR) on Strength (WNR)
Traders sold shares of Western Refining Inc. (NYSE:WNR) on strength during trading hours on Friday. $7.78 million flowed into the stock on the tick-up and $28.89 million flowed out of the stock on the tick-down, for a money net flow of $21.11 million out of the stock. Of all companies tracked, Western Refining had the 0th highest net out-flow for the day. Western Refining traded up $0.15 for the day and closed at $20.01
WNR has been the topic of several research analyst reports. Tudor Pickering cut Western Refining from a “hold” rating to a “sell” rating in a report on Tuesday, April 19th. Barclays PLC decreased their target price 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 cut Western Refining from a “hold” rating to a “strong sell” rating in a report on Tuesday, July 5th. JPMorgan Chase & Co. cut Western Refining from a “neutral” rating to an “underweight” rating and decreased their target price for the stock from $28.00 to $20.00 in a report on Friday, June 10th. Finally, Goldman Sachs Group Inc. reaffirmed a “neutral” rating and issued a $22.00 target price on shares of Western Refining in a report on Thursday, July 14th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and three have assigned a buy rating to the stock. Western Refining currently has an average rating of “Hold” and an average price target of $35.80.
The firm has a market capitalization of $1.83 billion and a price-to-earnings ratio of 5.69. The stock has a 50 day moving average price of $20.21 and a 200 day moving average price of $25.98.
Western Refining (NYSE:WNR) last announced its quarterly earnings data on Tuesday, May 3rd. The company reported $0.13 earnings per share for the quarter, missing analysts’ consensus estimates of $0.19 by $0.06. The firm had revenue of $1.46 billion for the quarter, compared to analysts’ expectations of $1.90 billion. Western Refining’s revenue was down 37.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.18 earnings per share. Equities research analysts expect that Western Refining Inc. will post $1.11 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 9th. Stockholders of record on Monday, July 25th will be issued a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a dividend yield of 7.60%. The ex-dividend date of this dividend is Thursday, July 21st.
In related news, major shareholder Paul L. Foster acquired 500,000 shares of the company’s stock in a transaction dated Friday, May 13th. The shares were purchased at an average cost of $21.60 per share, with a total value of $10,800,000.00. Following the completion of the acquisition, the insider now directly owns 3,430,619 shares of the company’s stock, valued at $74,101,370.40. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Brian John Hogan acquired 10,000 shares of the company’s stock in a transaction dated Friday, May 27th. The shares were bought at an average cost of $21.37 per share, for a total transaction of $213,700.00. Following the completion of the acquisition, the director now directly owns 78,463 shares of the company’s stock, valued at $1,676,754.31. The disclosure for this purchase can be found here.
Other large investors recently made changes to their positions in the company. Swiss National Bank raised its stake in shares of Western Refining by 0.6% in the fourth quarter. Swiss National Bank now owns 102,500 shares of the company’s stock worth $3,651,000 after buying an additional 600 shares during the period. Foresters Investment Management Company Inc. increased its position 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 in the last quarter. Principal Financial Group Inc. increased its position in Western Refining by 0.6% in the fourth quarter. Principal Financial Group Inc. now owns 368,897 shares of the company’s stock worth $13,140,000 after buying an additional 2,367 shares in the last quarter. Jennison Associates increased its position 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 in the last quarter. Finally, Comerica Bank increased its position in Western Refining by 7.5% in the fourth quarter. Comerica Bank now owns 65,564 shares of the company’s stock worth $2,525,000 after buying an additional 4,593 shares in 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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