Western Refining Inc. (WNR) Stock Price Down 4%
Shares of Western Refining Inc. (NYSE:WNR) dropped 4% during mid-day trading on Wednesday . The stock traded as low as $20.29 and last traded at $20.30, with a volume of 2,032,397 shares traded. The stock had previously closed at $21.14.
WNR has been the subject of several research analyst reports. Simmons cut their target price on Western Refining from $30.00 to $27.00 in a research report on Tuesday, April 12th. Tudor Pickering upgraded Western Refining from a “sell” rating to a “hold” rating in a report on Tuesday, June 28th. Wells Fargo & Co. restated a “hold” rating on shares of Western Refining in a report on Saturday, July 9th. Zacks Investment Research upgraded Western Refining from a “strong sell” rating to a “hold” rating in a report on Wednesday, April 27th. Finally, Goldman Sachs Group Inc. began coverage on Western Refining in a report on Sunday, July 17th. They set a “hold” rating for the company. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the stock. Western Refining has a consensus rating of “Hold” and a consensus target price of $35.00.
The firm has a market capitalization of $1.87 billion and a PE ratio of 5.84. The stock has a 50 day moving average price of $20.07 and a 200 day moving average price of $25.50.
Western Refining (NYSE:WNR) last released its quarterly earnings results 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 company earned $1.46 billion during the quarter, compared to the consensus estimate of $1.90 billion. The company’s revenue for the quarter was down 37.2% compared to the same quarter last year. During the same period last year, the firm earned $1.18 earnings per share. On average, equities research analysts anticipate that Western Refining Inc. will post $1.10 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, August 9th. Investors of record on Monday, July 25th will be issued a $0.38 dividend. The ex-dividend date is Thursday, July 21st. This represents a $1.52 dividend on an annualized basis and a yield of 7.40%.
In other news, Director Brian John Hogan acquired 10,000 shares of the business’s stock in a transaction on Friday, May 27th. The stock was bought at an average cost of $21.37 per share, for a total transaction of $213,700.00. Following the purchase, the director now owns 78,463 shares in the company, valued at $1,676,754.31. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Paul L. Foster acquired 500,000 shares of the business’s stock in a transaction on Friday, May 13th. The shares were purchased at an average price of $21.60 per share, with a total value of $10,800,000.00. Following the completion of the purchase, the insider now owns 3,430,619 shares in the company, valued at approximately $74,101,370.40. The disclosure for this purchase can be found here.
Other large investors have recently bought and sold shares of the company. Jennison Associates raised its stake in Western Refining by 0.5% in the third quarter. Jennison Associates now owns 935,436 shares of the company’s stock valued at $41,271,000 after buying an additional 4,207 shares during the period. Swiss National Bank raised its stake in Western Refining by 0.6% in the fourth quarter. Swiss National Bank now owns 102,500 shares of the company’s stock valued at $3,651,000 after buying an additional 600 shares during the period. Rhumbline Advisers raised its stake in Western Refining by 4.7% in the fourth quarter. Rhumbline Advisers now owns 138,802 shares of the company’s stock valued at $4,944,000 after buying an additional 6,225 shares during the period. California Public Employees Retirement System raised its stake in Western Refining by 14.0% in the fourth quarter. California Public Employees Retirement System now owns 183,000 shares of the company’s stock valued at $6,518,000 after buying an additional 22,500 shares during the period. Finally, Comerica Bank raised its stake in Western Refining by 7.5% in the fourth quarter. Comerica Bank now owns 65,564 shares of the company’s stock valued at $2,525,000 after buying an additional 4,593 shares during the period.
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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