Western Refining Logistics LP (WNRL) Earns Neutral Rating from JPMorgan Chase & Co.
Several other analysts also recently weighed in on WNRL. Zacks Investment Research downgraded Western Refining Logistics from a hold rating to a sell rating in a report on Wednesday, July 6th. Credit Suisse Group AG restated a hold rating and issued a $28.00 price objective on shares of Western Refining Logistics in a report on Wednesday, August 3rd. Finally, TheStreet upgraded Western Refining Logistics from a sell rating to a hold rating in a report on Tuesday, August 2nd. Six research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. The stock has an average rating of Buy and a consensus target price of $28.33.
Shares of Western Refining Logistics (NYSE:WNRL) opened at 22.33 on Friday. Western Refining Logistics has a one year low of $17.35 and a one year high of $26.94. The stock has a market cap of $1.15 billion, a P/E ratio of 16.81 and a beta of 0.94. The stock’s 50 day moving average is $23.62 and its 200-day moving average is $23.62.
Western Refining Logistics (NYSE:WNRL) last released its earnings results on Tuesday, August 2nd. The company reported $0.33 earnings per share for the quarter, missing the consensus estimate of $0.37 by $0.04. The firm earned $578.60 million during the quarter, compared to analyst estimates of $488.40 million. The company’s revenue was down 21.4% on a year-over-year basis. During the same period last year, the business posted $0.34 EPS. On average, equities analysts forecast that Western Refining Logistics will post $1.42 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, August 26th. Shareholders of record on Friday, August 12th were issued a $0.4125 dividend. The ex-dividend date was Wednesday, August 10th. This is an increase from Western Refining Logistics’s previous quarterly dividend of $0.40. This represents a $1.65 dividend on an annualized basis and a yield of 7.39%.
In other news, insider Jeff A. Stevens bought 134,408 shares of Western Refining Logistics stock in a transaction on Thursday, September 8th. The stock was acquired at an average cost of $22.32 per share, for a total transaction of $2,999,986.56. Following the completion of the acquisition, the insider now owns 410,691 shares of the company’s stock, valued at approximately $9,166,623.12. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Michael C. Linn bought 11,200 shares of Western Refining Logistics stock in a transaction on Thursday, September 8th. The stock was purchased at an average price of $22.32 per share, with a total value of $249,984.00. Following the completion of the acquisition, the director now directly owns 28,148 shares of the company’s stock, valued at approximately $628,263.36. The disclosure for this purchase can be found here.
A number of institutional investors have recently made changes to their positions in the company. Duff & Phelps Investment Management Co. purchased a new position in shares of Western Refining Logistics during the first quarter worth approximately $701,000. State Street Corp raised its stake in shares of Western Refining Logistics by 3.9% in the first quarter. State Street Corp now owns 13,431 shares of the company’s stock worth $314,000 after buying an additional 503 shares during the last quarter. TPH Asset Management LLC raised its stake in shares of Western Refining Logistics by 52.8% in the first quarter. TPH Asset Management LLC now owns 965,499 shares of the company’s stock worth $21,981,000 after buying an additional 333,577 shares during the last quarter. Harvest Fund Advisors LLC raised its stake in shares of Western Refining Logistics by 2.5% in the first quarter. Harvest Fund Advisors LLC now owns 3,755,305 shares of the company’s stock worth $87,686,000 after buying an additional 92,289 shares during the last quarter. Finally, HITE Hedge Asset Management LLC acquired a new stake in shares of Western Refining Logistics during the second quarter worth $6,231,000.
About Western Refining Logistics
Western Refining Logistics, LP owns, operates, develops, and acquires logistics and related assets and businesses to include terminals, storage tanks, pipelines and other logistics assets related to the terminaling, transportation, storage and distribution of crude oil and refined products. The Company’s segments are the logistics segment and the wholesale segment.
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