Western Refining Inc. (NYSE:WNR) Receives $28.14 Average PT from Analysts
Shares of Western Refining Inc. (NYSE:WNR) have been given an average recommendation of “Hold” by the thirteen analysts that are covering the company. Nine investment analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $28.14.
A number of research firms recently weighed in on WNR. Cowen and Company lifted their price target on Western Refining from $26.00 to $32.00 and gave the company an “outperform” rating in a research note on Monday, September 19th. Credit Suisse Group AG lifted their price target on Western Refining from $27.00 to $31.00 and gave the company an “outperform” rating in a research note on Monday, September 19th. Piper Jaffray Cos. lifted their price target on Western Refining from $19.00 to $23.00 and gave the company an “overweight” rating in a research note on Friday, September 16th. JPMorgan Chase & Co. upgraded Western Refining from an “underweight” rating to a “neutral” rating and lifted their price target for the company from $20.00 to $28.00 in a research note on Thursday, September 15th. Finally, Morgan Stanley restated a “hold” rating and issued a $21.00 price target on shares of Western Refining in a research note on Thursday, September 1st.
Western Refining (NYSE:WNR) last posted its quarterly earnings results on Tuesday, August 2nd. The company reported $0.72 earnings per share for the quarter, beating the Zacks’ 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 firm had revenue of $2.11 billion for the quarter, compared to the consensus estimate of $2.11 billion. During the same period in the previous year, the business earned $1.44 earnings per share. The company’s revenue for the quarter was down 25.5% compared to the same quarter last year.
In other Western Refining news, Chairman Paul L. Foster bought 325,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 9th. The stock was purchased at an average cost of $23.59 per share, for a total transaction of $7,666,750.00. Following the completion of the purchase, the chairman now owns 3,109,466 shares of the company’s stock, valued at approximately $73,352,302.94. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Jeff A. Stevens bought 100,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 24th. The stock was acquired 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 directly owns 3,474,156 shares of the company’s stock, valued at approximately $80,774,127. The disclosure for this purchase can be found here. 26.50% of the stock is owned by insiders.
Institutional investors have recently added to or reduced their stakes in the stock. Private Capital Management Inc. acquired a new position in Western Refining during the second quarter valued at approximately $124,000. Pacer Advisors Inc. acquired a new position in Western Refining during the second quarter valued at approximately $125,000. FineMark National Bank & Trust raised its position in Western Refining by 200.0% in the second quarter. FineMark National Bank & Trust now owns 7,500 shares of the company’s stock valued at $155,000 after buying an additional 5,000 shares during the last quarter. Victory Capital Management Inc. raised its position in Western Refining by 17.6% in the second quarter. Victory Capital Management Inc. now owns 9,084 shares of the company’s stock valued at $187,000 after buying an additional 1,358 shares during the last quarter. Finally, Acrospire Investment Management LLC acquired a new position in Western Refining during the first quarter valued at approximately $197,000. Hedge funds and other 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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