Recent Investment Analysts’ Ratings Updates for Western Refining (WNR)
Western Refining (NYSE: WNR) recently received a number of ratings updates from brokerages and research firms:
- 9/19/2016 – Western Refining had its price target raised by analysts at Cowen and Company from $26.00 to $32.00. They now have an “outperform” rating on the stock.
- 9/19/2016 – Western Refining had its price target raised by analysts at Credit Suisse Group AG from $27.00 to $31.00. They now have an “outperform” rating on the stock.
- 9/16/2016 – Western Refining had its price target raised by analysts at Piper Jaffray Cos. from $19.00 to $23.00. They now have an “overweight” rating on the stock.
- 9/15/2016 – Western Refining was upgraded by analysts at JPMorgan Chase & Co. from an “underweight” rating to a “neutral” rating. They now have a $28.00 price target on the stock, up previously from $20.00.
- 9/6/2016 – Western Refining had its “outperform” rating reaffirmed by analysts at Credit Suisse Group AG.
- 9/1/2016 – Western Refining had its “hold” rating reaffirmed by analysts at Morgan Stanley. They now have a $21.00 price target on the stock.
- 8/22/2016 – Western Refining had its price target raised by analysts at Piper Jaffray Cos. from $16.00 to $19.00. They now have a “neutral” rating on the stock.
- 8/16/2016 – Western Refining was upgraded by analysts at Zacks Investment Research from a “strong sell” rating to a “hold” rating. According to Zacks, “Western Refining revealed that the third quarter had a reassuring start with demand for gasoline remaining favorable. Further, the price of crude, which the company uses as an input for manufacturing refined products, is way below the mid-2014 level. Both the events are likely to help the company generate significant cash flow going ahead. Moreover, the company has a history of creating value for its shareholders by increasing dividend and repurchasing shares. However, investors' pessimistic outlook could be gauged from the company's suppressed share price that has plunged around 32% year-to-date. Moreover, the elevated debt levels following the NTI acquisition is another headwind that needs to be addressed.”
- 8/3/2016 – Western Refining was given a new $21.00 price target on by analysts at Morgan Stanley. They now have a “hold” rating on the stock.
Shares of Western Refining Inc. (NYSE:WNR) traded up 1.44% during midday trading on Wednesday, reaching $28.16. The company had a trading volume of 2,428,869 shares. The stock’s 50 day moving average is $24.85 and its 200-day moving average is $24.06. Western Refining Inc. has a 12-month low of $18.14 and a 12-month high of $47.55. The stock has a market capitalization of $3.05 billion, a PE ratio of 10.01 and a beta of 1.85.
Western Refining (NYSE:WNR) last issued its quarterly earnings results on Tuesday, August 2nd. The company reported $0.72 earnings per share for the quarter, beating the consensus estimate of $0.51 by $0.21. The company earned $2.11 billion during the quarter, compared to analysts’ expectations of $2.11 billion. Western Refining had a return on equity of 10.65% and a net margin of 3.20%. The business’s quarterly revenue was down 25.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.44 earnings per share. On average, equities research analysts predict that Western Refining Inc. will post $1.30 earnings per share for the current fiscal year.
In related news, CEO Jeff A. Stevens purchased 100,000 shares of the firm’s stock in a transaction dated Wednesday, August 24th. The stock was bought at an average price of $23.25 per share, with a total value of $2,325,000.00. Following the completion of the purchase, the chief executive officer now owns 3,474,156 shares in the company, valued at approximately $80,774,127. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Chairman Paul L. Foster purchased 325,000 shares of the firm’s stock in a transaction dated Tuesday, August 9th. The stock was bought at an average cost of $23.59 per share, with a total value of $7,666,750.00. Following the purchase, the chairman now 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. 26.50% of the stock is owned by insiders.
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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