Western Refining Inc. (WNR) Stock Price Down 2.4%
Shares of Western Refining Inc. (NYSE:WNR) traded down 2.4% during trading on Thursday . The company traded as low as $24.06 and last traded at $24.56, with a volume of 1,873,641 shares. The stock had previously closed at $25.16.
A number of equities analysts have recently weighed in on the company. Morgan Stanley reiterated a “hold” rating and issued a $21.00 target price on shares of Western Refining in a research note on Thursday. Piper Jaffray Cos. upped their target price on Western Refining from $16.00 to $19.00 and gave the company a “neutral” rating in a research note on Monday, August 22nd. Zacks Investment Research raised Western Refining from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 16th. Goldman Sachs Group Inc. assumed coverage on Western Refining in a research report on Sunday, July 17th. They set a “hold” rating for the company. Finally, Wells Fargo & Co. reissued a “hold” rating on shares of Western Refining in a research report on Saturday, July 9th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and three have assigned a buy rating to the stock. Western Refining presently has a consensus rating of “Hold” and a consensus target price of $30.80.
The company’s 50 day moving average is $22.67 and its 200-day moving average is $24.06. The firm has a market cap of $2.69 billion and a PE ratio of 8.83.
Western Refining (NYSE:WNR) last announced its earnings results on Tuesday, August 2nd. The company reported $0.72 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.51 by $0.21. During the same quarter in the previous year, the company earned $1.44 EPS. The business had revenue of $2.11 billion for the quarter, compared to analyst estimates of $2.11 billion. The business’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 $1.19 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Tuesday, August 9th. Shareholders of record on Monday, July 25th were given a $0.38 dividend. The ex-dividend date of this dividend was Thursday, July 21st. This represents a $1.52 dividend on an annualized basis and a yield of 6.12%.
In related news, CEO Jeff A. Stevens purchased 100,000 shares of Western Refining stock in a transaction on Wednesday, August 24th. The stock was acquired at an average cost of $23.25 per share, for a total transaction of $2,325,000.00. Following the completion of the acquisition, the chief executive officer now owns 3,474,156 shares of the company’s stock, valued at approximately $80,774,127. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Chairman Paul L. Foster purchased 325,000 shares of Western Refining stock in a transaction on Tuesday, August 9th. The stock was bought at an average price of $23.59 per share, with a total value of $7,666,750.00. Following the completion of the acquisition, the chairman now directly owns 3,109,466 shares of the company’s stock, valued at approximately $73,352,302.94. The disclosure for this purchase can be found here.
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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