Western Refining Inc. (WNR) Stock Price Down 3.8%
Western Refining Inc. (NYSE:WNR) shares dropped 3.8% during trading on Tuesday . The company traded as low as $23.57 and last traded at $23.70, with a volume of 2,204,277 shares. The stock had previously closed at $24.64.
WNR has been the topic of a number of research analyst reports. Simmons reduced their target price on Western Refining from $30.00 to $27.00 in a report on Tuesday, April 12th. Tudor Pickering raised Western Refining from a “sell” rating to a “hold” rating in a report on Tuesday, June 28th. Wells Fargo & Co. reaffirmed a “hold” rating on shares of Western Refining in a report on Saturday, July 9th. Zacks Investment Research raised Western Refining from a “strong sell” rating to a “hold” rating in a report on Wednesday, April 27th. Finally, Morgan Stanley set a $21.00 target price on Western Refining and gave the stock a “hold” rating in a report on Wednesday, August 3rd. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the company. Western Refining has an average rating of “Hold” and a consensus target price of $32.11.
The company’s 50 day moving average is $20.72 and its 200-day moving average is $24.74. The firm has a market cap of $2.53 billion and a PE ratio of 8.28.
Western Refining (NYSE:WNR) last posted its quarterly earnings data on Tuesday, August 2nd. The company reported $0.72 EPS for the quarter, topping analysts’ consensus estimates of $0.51 by $0.21. During the same quarter in the previous year, the firm posted $1.44 earnings per share. The business earned $2.11 billion during the quarter, compared to the consensus estimate of $2.11 billion. The company’s revenue for the quarter was down 25.5% on a year-over-year basis. On average, equities analysts anticipate that Western Refining Inc. will post $1.16 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 9th. Stockholders of record on Monday, July 25th will be paid a $0.38 dividend. The ex-dividend date is Thursday, July 21st. This represents a $1.52 dividend on an annualized basis and a dividend yield of 6.52%.
In other news, Director Brian John Hogan bought 10,000 shares of the firm’s stock in a transaction that occurred on Friday, May 27th. The shares were acquired 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 directly owns 78,463 shares in the company, valued at $1,676,754.31. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Paul L. Foster bought 500,000 shares of the firm’s stock in a transaction that occurred on Friday, May 13th. The shares were purchased at an average cost of $21.60 per share, for a total transaction of $10,800,000.00. Following the completion of the transaction, the insider now owns 3,430,619 shares of the company’s stock, valued at $74,101,370.40. The disclosure for this purchase can be found here.
A number of large investors have recently added to or reduced their stakes in the company. Cambria Investment Management L.P. increased its stake in Western Refining by 5,819.9% in the fourth quarter. Cambria Investment Management L.P. now owns 33,033 shares of the company’s stock worth $1,177,000 after buying an additional 32,475 shares during the period. Cornerstone Capital Management Holdings LLC. increased its stake in Western Refining by 75.1% in the fourth quarter. Cornerstone Capital Management Holdings LLC. now owns 44,821 shares of the company’s stock worth $1,597,000 after buying an additional 19,221 shares during the period. Marshall Wace LLP purchased a new stake in Western Refining during the fourth quarter worth $1,613,000. Trexquant Investment LP increased 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 period. Finally, Airain ltd increased its stake in Western Refining by 248.6% in the fourth quarter. Airain ltd now owns 165,280 shares of the company’s stock worth $5,887,000 after buying an additional 117,869 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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