Western Refining Inc. (WNR) Stock Price Down 3.1%
Western Refining Inc. (NYSE:WNR)’s share price dropped 3.1% during trading on Thursday . The stock traded as low as $19.80 and last traded at $19.86, with a volume of 1,998,517 shares changing hands. The stock had previously closed at $20.50.
WNR has been the topic of several research analyst reports. JPMorgan Chase & Co. downgraded Western Refining from a “neutral” rating to an “underweight” rating and lowered their price objective for the company from $28.00 to $20.00 in a research report on Friday, June 10th. Tudor Pickering downgraded Western Refining from a “hold” rating to a “sell” rating in a research report on Tuesday, April 19th. Goldman Sachs Group Inc. restated a “neutral” rating and issued a $22.00 price objective on shares of Western Refining in a research report on Thursday, July 14th. Zacks Investment Research downgraded Western Refining from a “hold” rating to a “strong sell” rating in a research report on Tuesday, July 5th. Finally, Barclays PLC decreased their target price on Western Refining from $39.00 to $36.00 and set an “overweight” rating on the stock in a research report on Friday, April 8th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and three have assigned a buy rating to the company. Western Refining presently has an average rating of “Hold” and a consensus price target of $35.80.
The company has a market cap of $1.83 billion and a price-to-earnings ratio of 5.69. The stock’s 50 day moving average price is $20.21 and its 200 day moving average price is $25.98.
Western Refining (NYSE:WNR) last posted its earnings results on Tuesday, May 3rd. The company reported $0.13 EPS for the quarter, missing the Zacks’ consensus estimate of $0.19 by $0.06. The firm earned $1.46 billion during the quarter, compared to analysts’ expectations of $1.90 billion. The firm’s revenue for the quarter was down 37.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.18 EPS. Analysts predict that Western Refining Inc. will post $1.13 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, August 9th. Stockholders of record on Monday, July 25th will be given a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a dividend yield of 7.60%. The ex-dividend date is Thursday, July 21st.
In other Western Refining news, Director Brian John Hogan bought 10,000 shares of the company’s stock in a transaction dated Friday, May 27th. The shares were purchased at an average cost of $21.37 per share, for a total transaction of $213,700.00. Following the transaction, the director now directly owns 78,463 shares of the company’s stock, valued at $1,676,754.31. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Also, major shareholder Paul L. Foster bought 500,000 shares of the company’s stock in a transaction dated Friday, May 13th. The shares were acquired at an average price of $21.60 per share, for a total transaction of $10,800,000.00. Following the completion of the transaction, the insider now directly owns 3,430,619 shares in the company, valued at $74,101,370.40. The disclosure for this purchase can be found here.
Several large investors have bought and sold shares of WNR. Wells Fargo & Company MN boosted its stake in Western Refining by 17.0% in the fourth quarter. Wells Fargo & Company MN now owns 1,024,455 shares of the company’s stock worth $36,491,000 after buying an additional 148,625 shares during the period. Jennison Associates LLC boosted its stake in Western Refining by 4.7% in the fourth quarter. Jennison Associates LLC now owns 979,211 shares of the company’s stock worth $34,879,000 after buying an additional 43,775 shares during the period. Jennison Associates boosted its stake in Western Refining by 0.5% in the third quarter. Jennison Associates now owns 935,436 shares of the company’s stock worth $41,271,000 after buying an additional 4,207 shares during the period. Schroder Investment Management Group boosted its stake in Western Refining by 1,029.2% in the fourth quarter. Schroder Investment Management Group now owns 460,700 shares of the company’s stock worth $16,410,000 after buying an additional 419,900 shares during the period. Finally, Principal Financial Group Inc. boosted its stake in Western Refining by 0.6% in the fourth quarter. Principal Financial Group Inc. now owns 368,897 shares of the company’s stock worth $13,140,000 after buying an additional 2,367 shares during the period.
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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