Western Refining Inc. (WNR) Shares Up 3.6%
Shares of Western Refining Inc. (NYSE:WNR) shot up 3.6% during mid-day trading on Tuesday . The company traded as high as $20.88 and last traded at $20.80, with a volume of 1,172,504 shares trading hands. The stock had previously closed at $20.08.
A number of research firms have issued reports on WNR. Goldman Sachs Group Inc. began coverage on shares of Western Refining in a research note on Sunday, July 17th. They issued a “hold” rating for the company. Wells Fargo & Co. reiterated a “hold” rating on shares of Western Refining in a research note on Saturday, July 9th. Credit Suisse Group AG reduced their target price on shares of Western Refining from $60.00 to $35.00 and set an “outperform” rating for the company in a research note on Monday, April 11th. Simmons reduced their target price on shares of Western Refining from $30.00 to $27.00 in a research note on Tuesday, April 12th. Finally, Zacks Investment Research upgraded shares of Western Refining from a “strong sell” rating to a “hold” rating in a research note on Wednesday, April 27th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and three have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $35.00.
The company’s 50-day moving average price is $20.16 and its 200-day moving average price is $25.66. The stock has a market cap of $1.93 billion and a P/E ratio of 6.01.
Western Refining (NYSE:WNR) last announced its quarterly 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. During the same quarter last year, the firm earned $1.18 earnings per share. The company’s quarterly revenue was down 37.2% on a year-over-year basis.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, August 9th. Stockholders of record on Monday, July 25th will be paid a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a dividend yield of 7.19%. The ex-dividend date is Thursday, July 21st.
In other news, Director Brian John Hogan purchased 10,000 shares of the business’s stock in a transaction dated Friday, May 27th. The shares were purchased at an average cost of $21.37 per share, with a total value of $213,700.00. Following the completion of the purchase, the director now owns 78,463 shares of the company’s stock, valued at approximately $1,676,754.31. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, major shareholder Paul L. Foster purchased 500,000 shares of the business’s stock in a transaction dated Friday, May 13th. The shares were purchased at an average cost of $21.60 per share, for a total transaction of $10,800,000.00. Following the completion of the purchase, the insider now directly owns 3,430,619 shares of the company’s stock, valued at approximately $74,101,370.40. The disclosure for this purchase can be found here.
Other hedge funds have recently made changes to their positions in the company. Cornerstone Capital Management Holdings LLC. raised its stake in shares of Western Refining by 75.1% in the fourth quarter. Cornerstone Capital Management Holdings LLC. now owns 44,821 shares of the company’s stock worth $1,597,000 after buying an additional 19,221 shares during the last quarter. Marshall Wace LLP purchased a new stake in shares of Western Refining during the fourth quarter worth approximately $1,613,000. Deere & Co. raised its stake in shares of Western Refining by 25.5% in the fourth quarter. Deere & Co. now owns 51,036 shares of the company’s stock worth $1,818,000 after buying an additional 10,372 shares during the last quarter. GSA Capital Partners LLP raised its stake in shares of Western Refining by 50.1% in the fourth quarter. GSA Capital Partners LLP now owns 68,870 shares of the company’s stock worth $2,453,000 after buying an additional 22,981 shares during the last quarter. Finally, Comerica Bank raised its stake in shares of Western Refining by 7.5% in the fourth quarter. Comerica Bank now owns 65,564 shares of the company’s stock worth $2,525,000 after buying an additional 4,593 shares during the last quarter.
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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