Western Refining Inc. (WNR) Given New $31.00 Price Target at Credit Suisse Group AG
Western Refining Inc. (NYSE:WNR) had its price target hoisted by Credit Suisse Group AG from $27.00 to $31.00 in a research note published on Monday. They currently have an outperform rating on the stock.
A number of other research analysts have also commented on WNR. Morgan Stanley reissued a hold rating and set a $21.00 price objective on shares of Western Refining in a report on Thursday, September 1st. JPMorgan Chase & Co. lowered Western Refining from a neutral rating to an underweight rating and lowered their price objective for the company from $28.00 to $20.00 in a report on Friday, June 10th. Piper Jaffray Cos. increased their price objective on Western Refining from $16.00 to $19.00 and gave the company a neutral rating in a report on Monday, August 22nd. Tudor Pickering raised Western Refining from a sell rating to a hold rating in a report on Tuesday, June 28th. Finally, Goldman Sachs Group Inc. reissued a neutral rating and set a $22.00 price objective on shares of Western Refining in a report on Thursday, July 14th. Nine research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The company has a consensus rating of Hold and an average target price of $30.80.
Shares of Western Refining (NYSE:WNR) opened at 28.64 on Monday. The stock has a market capitalization of $3.11 billion, a P/E ratio of 10.18 and a beta of 1.85. Western Refining has a 12-month low of $18.14 and a 12-month high of $47.55. The firm’s 50-day moving average price is $24.66 and its 200 day moving average price is $24.06.
Western Refining (NYSE:WNR) last issued its earnings results on Tuesday, August 2nd. The company reported $0.72 earnings per share for the quarter, topping the consensus estimate of $0.51 by $0.21. Western Refining had a return on equity of 10.65% and a net margin of 3.20%. The company had revenue of $2.11 billion for the quarter, compared to analyst estimates of $2.11 billion. During the same period in the prior year, the firm posted $1.44 EPS. The business’s revenue was down 25.5% compared to the same quarter last year. Analysts predict that Western Refining will post $1.27 EPS for the current fiscal year.
In other news, Chairman Paul L. Foster acquired 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, for a total transaction of $7,666,750.00. Following the transaction, the chairman now owns 3,109,466 shares of the company’s stock, valued at $73,352,302.94. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Jeff A. Stevens acquired 100,000 shares of Western Refining stock in a transaction on Wednesday, August 24th. The stock was purchased at an average price of $23.25 per share, with a total value of $2,325,000.00. Following the transaction, the chief executive officer now directly owns 3,474,156 shares in the company, valued at approximately $80,774,127. The disclosure for this purchase can be found here. 26.50% of the stock is owned by company insiders.
Hedge funds have recently made changes to their positions in the company. Zebra Capital Management LLC increased its stake in shares of Western Refining by 30.5% in the first quarter. Zebra Capital Management LLC now owns 91,145 shares of the company’s stock worth $2,651,000 after buying an additional 21,284 shares in the last quarter. Kempen Capital Management N.V. increased its stake in shares of Western Refining by 41,669.6% in the first quarter. Kempen Capital Management N.V. now owns 758,536 shares of the company’s stock worth $22,065,000 after buying an additional 756,720 shares in the last quarter. Canada Pension Plan Investment Board increased its stake in shares of Western Refining by 5.5% in the first quarter. Canada Pension Plan Investment Board now owns 336,300 shares of the company’s stock worth $9,783,000 after buying an additional 17,600 shares in the last quarter. Spark Investment Management LLC increased its stake in shares of Western Refining by 111.7% in the first quarter. Spark Investment Management LLC now owns 168,300 shares of the company’s stock worth $4,895,000 after buying an additional 88,800 shares in the last quarter. Finally, Acrospire Investment Management LLC purchased a new stake in shares of Western Refining during the first quarter worth approximately $197,000. Institutional investors own 65.13% of the company’s stock.
Western Refining Company Profile
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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