Western Refining Inc. (NYSE:WNR) had its target price boosted by research analysts at Piper Jaffray Cos. from $19.00 to $23.00 in a report issued on Friday. The brokerage presently has an “overweight” rating on the stock. Piper Jaffray Cos.’s target price indicates a potential downside of 19.69% from the stock’s previous close.

WNR has been the topic of a number of other research reports. Zacks Investment Research upgraded shares of Western Refining from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 16th. Credit Suisse Group AG restated an “outperform” rating on shares of Western Refining in a research report on Tuesday, September 6th. Goldman Sachs Group Inc. began coverage on shares of Western Refining in a research report on Sunday, July 17th. They issued a “hold” rating on the stock. Wells Fargo & Co. restated a “hold” rating on shares of Western Refining in a research report on Saturday, July 9th. Finally, Morgan Stanley restated a “hold” rating and issued a $21.00 price target on shares of Western Refining in a research report on Thursday, September 1st. Nine investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Western Refining currently has a consensus rating of “Hold” and a consensus target price of $30.80.

Analyst Recommendations for Western Refining (NYSE:WNR)

Western Refining (NYSE:WNR) opened at 28.64 on Friday. The company has a 50-day moving average of $24.66 and a 200-day moving average of $24.06. The company has a market cap of $3.11 billion, a P/E ratio of 10.18 and a beta of 1.85. Western Refining has a 52-week low of $18.14 and a 52-week high of $47.55.

Western Refining (NYSE:WNR) last posted its earnings results on Tuesday, August 2nd. The company reported $0.72 EPS for the quarter, topping the consensus estimate of $0.51 by $0.21. Western Refining had a net margin of 3.20% and a return on equity of 10.65%. The business had revenue of $2.11 billion for the quarter, compared to the consensus estimate of $2.11 billion. During the same period last year, the company earned $1.44 EPS. The firm’s revenue was down 25.5% compared to the same quarter last year. On average, equities research analysts expect that Western Refining will post $1.27 earnings per share for the current fiscal year.

In other Western Refining news, CEO Jeff A. Stevens purchased 100,000 shares of the firm’s stock in a transaction on Wednesday, August 24th. The stock was acquired at an average price of $23.25 per share, for a total transaction of $2,325,000.00. Following the purchase, 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 Securities & Exchange Commission, which is accessible through this link. Also, Chairman Paul L. Foster purchased 325,000 shares of the firm’s stock in a transaction on Tuesday, August 9th. The shares were acquired at an average price of $23.59 per share, with a total value of $7,666,750.00. Following the purchase, the chairman now directly owns 3,109,466 shares in the company, valued at approximately $73,352,302.94. The disclosure for this purchase can be found here. Company insiders own 26.50% of the company’s stock.

Several hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. raised its stake in Western Refining by 5.8% in the second quarter. Vanguard Group Inc. now owns 8,214,844 shares of the company’s stock valued at $169,472,000 after buying an additional 447,699 shares during the last quarter. State Street Corp raised its stake in Western Refining by 27.5% in the second quarter. State Street Corp now owns 4,338,337 shares of the company’s stock valued at $89,500,000 after buying an additional 936,599 shares during the last quarter. BlackRock Fund Advisors raised its stake in Western Refining by 11.4% in the second quarter. BlackRock Fund Advisors now owns 3,863,714 shares of the company’s stock valued at $79,708,000 after buying an additional 396,751 shares during the last quarter. Prudential Financial Inc. raised its stake in Western Refining by 46.9% in the second quarter. Prudential Financial Inc. now owns 3,791,097 shares of the company’s stock valued at $78,210,000 after buying an additional 1,210,995 shares during the last quarter. Finally, BlackRock Institutional Trust Company N.A. raised its stake in Western Refining by 18.2% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 2,505,222 shares of the company’s stock valued at $51,683,000 after buying an additional 385,113 shares during the last quarter. Hedge funds and other institutional investors own 65.13% of the company’s stock.

About Western Refining

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.

5 Day Chart for NYSE:WNR

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