Western Refining Logistics LP (WNRL) Stock Rating Reaffirmed by Credit Suisse Group AG
Western Refining Logistics LP (NYSE:WNRL)‘s stock had its “outperform” rating reiterated by equities researchers at Credit Suisse Group AG in a report released on Monday. They presently have a $31.00 price target on the stock, up from their prior price target of $27.00. Credit Suisse Group AG’s price objective points to a potential upside of 38.83% from the company’s current price.
WNRL has been the topic of a number of other reports. JPMorgan Chase & Co. downgraded shares of Western Refining Logistics from a “neutral” rating to an “underweight” rating in a research note on Monday, June 13th. Zacks Investment Research raised shares of Western Refining Logistics from a “sell” rating to a “hold” rating in a report on Thursday, July 21st. TheStreet raised shares of Western Refining Logistics from a “sell” rating to a “hold” rating in a report on Tuesday, August 2nd. Finally, Cowen and Company reissued an “outperform” rating and issued a $32.00 target price (up previously from $26.00) on shares of Western Refining Logistics in a report on Monday. Six investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. Western Refining Logistics currently has a consensus rating of “Buy” and a consensus price target of $28.33.
Western Refining Logistics (NYSE:WNRL) opened at 22.33 on Monday. Western Refining Logistics has a one year low of $17.35 and a one year high of $26.94. The company’s 50-day moving average is $23.62 and its 200-day moving average is $23.62. The firm has a market cap of $1.15 billion, a PE ratio of 16.81 and a beta of 0.94.
Western Refining Logistics (NYSE:WNRL) last announced its quarterly earnings data on Tuesday, August 2nd. The company reported $0.33 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.37 by $0.04. The business had revenue of $578.60 million for the quarter, compared to analysts’ expectations of $488.40 million. The firm’s quarterly revenue was down 21.4% on a year-over-year basis. During the same quarter last year, the firm earned $0.34 EPS. On average, analysts forecast that Western Refining Logistics will post $1.42 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 26th. Investors of record on Friday, August 12th were issued a $0.4125 dividend. This represents a $1.65 dividend on an annualized basis and a yield of 7.39%. The ex-dividend date of this dividend was Wednesday, August 10th. This is a positive change from Western Refining Logistics’s previous quarterly dividend of $0.40.
In other Western Refining Logistics news, insider Jeff A. Stevens acquired 134,408 shares of the company’s stock in a transaction that occurred on Thursday, September 8th. The stock was acquired at an average price of $22.32 per share, for a total transaction of $2,999,986.56. Following the acquisition, the insider now directly owns 410,691 shares in the company, valued at $9,166,623.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Michael C. Linn acquired 11,200 shares of the company’s stock in a transaction that occurred on Thursday, September 8th. The stock was acquired at an average price of $22.32 per share, with a total value of $249,984.00. Following the acquisition, the director now owns 28,148 shares in the company, valued at $628,263.36. The disclosure for this purchase can be found here.
A number of hedge funds and other institutional investors have recently modified their holdings of WNRL. State Street Corp raised its position 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 period. US Bancorp DE increased its stake in Western Refining Logistics by 2.2% in the second quarter. US Bancorp DE now owns 15,640 shares of the company’s stock worth $410,000 after buying an additional 334 shares in the last quarter. Duff & Phelps Investment Management Co. purchased a new stake in Western Refining Logistics during the first quarter worth $701,000. Barclays PLC increased its stake in Western Refining Logistics by 63.2% in the second quarter. Barclays PLC now owns 36,578 shares of the company’s stock worth $958,000 after buying an additional 14,159 shares in the last quarter. Finally, Guggenheim Capital LLC increased its stake in Western Refining Logistics by 311.1% in the second quarter. Guggenheim Capital LLC now owns 58,583 shares of the company’s stock worth $1,534,000 after buying an additional 44,333 shares in the last quarter.
Western Refining Logistics Company Profile
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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