Western Refining Inc. (WNR) to Issue Quarterly Dividend of $0.38 on November 8th
Western Refining Inc. (NYSE:WNR) declared a quarterly dividend on Thursday, October 13th. Investors of record on Monday, October 24th will be given a dividend of 0.38 per share on Tuesday, November 8th. This represents a $1.52 annualized dividend and a yield of 5.42%. The ex-dividend date of this dividend is Thursday, October 20th.
Western Refining (NYSE:WNR) opened at 28.07 on Wednesday. Western Refining has a 1-year low of $18.14 and a 1-year high of $47.55. The company’s 50-day moving average is $26.98 and its 200 day moving average is $23.88. The stock has a market capitalization of $3.04 billion, a PE ratio of 9.98 and a beta of 1.62.
Western Refining (NYSE:WNR) last released its earnings results on Tuesday, August 2nd. The company reported $0.72 earnings per share for the quarter, topping the consensus estimate of $0.51 by $0.21. The company had revenue of $2.11 billion for the quarter, compared to the consensus estimate of $2.11 billion. Western Refining had a net margin of 3.20% and a return on equity of 10.65%. Western Refining’s revenue was down 25.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.44 EPS. Equities analysts predict that Western Refining will post $1.30 earnings per share for the current year.
In other Western Refining news, Chairman Paul L. Foster bought 325,000 shares of Western Refining stock in a transaction dated Tuesday, August 9th. The stock was bought at an average cost of $23.59 per share, for a total transaction of $7,666,750.00. Following the purchase, the chairman now owns 3,109,466 shares in the company, valued at approximately $73,352,302.94. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Jeff A. Stevens bought 100,000 shares of Western Refining stock in a transaction dated Wednesday, August 24th. The shares were 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 owns 3,474,156 shares in the company, valued at approximately $80,774,127. The disclosure for this purchase can be found here. Insiders own 26.50% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the stock. State Street Corp boosted its position 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 period. BlackRock Fund Advisors boosted its position in shares of 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 period. BlackRock Institutional Trust Company N.A. boosted its position in shares of 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 period. AQR Capital Management LLC boosted its position in shares of Western Refining by 13.6% in the second quarter. AQR Capital Management LLC now owns 1,727,421 shares of the company’s stock valued at $35,637,000 after buying an additional 206,380 shares during the period. Finally, FMR LLC boosted its position in shares of Western Refining by 15.8% in the second quarter. FMR LLC now owns 1,012,012 shares of the company’s stock valued at $20,878,000 after buying an additional 137,808 shares during the period. Institutional investors own 65.11% of the company’s stock.
Several analysts have weighed in on WNR shares. Barclays PLC downgraded shares of Western Refining from an “overweight” rating to an “equal weight” rating and boosted their target price for the stock from $29.00 to $30.00 in a research report on Monday, October 10th. Tudor Pickering raised shares of Western Refining from a “sell” rating to a “hold” rating in a report on Tuesday, June 28th. Wells Fargo & Co. reaffirmed a “hold” rating on shares of Western Refining in a report on Saturday, July 9th. Morgan Stanley reaffirmed a “hold” rating and issued a $21.00 price objective on shares of Western Refining in a report on Thursday, September 1st. Finally, Zacks Investment Research raised shares of Western Refining from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 16th. Ten research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Western Refining presently has an average rating of “Hold” and a consensus target price of $28.33.
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.
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