Western Refining Inc. (WNR) Shares Down 2.4%
Shares of Western Refining Inc. (NYSE:WNR) fell 2.4% during trading on Thursday . The stock traded as low as $24.06 and last traded at $24.56, with a volume of 1,873,641 shares traded. The stock had previously closed at $25.16.
Several research firms recently commented on WNR. Morgan Stanley restated a “hold” rating and set a $21.00 price target on shares of Western Refining in a report on Thursday. Piper Jaffray Cos. raised their price target on shares of Western Refining from $16.00 to $19.00 and gave the stock a “neutral” rating in a report on Monday, August 22nd. Zacks Investment Research upgraded shares of Western Refining from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 16th. Goldman Sachs Group Inc. began coverage on shares of Western Refining in a report on Sunday, July 17th. They set a “hold” rating for the company. Finally, Wells Fargo & Co. restated a “hold” rating on shares of Western Refining in a report on Saturday, July 9th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and three have given a buy rating to the company. Western Refining has a consensus rating of “Hold” and a consensus price target of $30.80.
The stock has a market cap of $2.66 billion and a P/E ratio of 8.71. The company’s 50-day moving average price is $22.43 and its 200-day moving average price is $24.05.
Western Refining (NYSE:WNR) last announced its quarterly earnings results on Tuesday, August 2nd. The company reported $0.72 EPS for the quarter, beating analysts’ consensus estimates of $0.51 by $0.21. During the same period last year, the company earned $1.44 earnings per share. The company earned $2.11 billion during the quarter, compared to the consensus estimate of $2.11 billion. The business’s revenue was down 25.5% compared to the same quarter last year. On average, equities research analysts forecast that Western Refining Inc. will post $1.19 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Tuesday, August 9th. Stockholders of record on Monday, July 25th were paid a $0.38 dividend. The ex-dividend date of this dividend was Thursday, July 21st. This represents a $1.52 dividend on an annualized basis and a dividend yield of 6.20%.
In other Western Refining news, Chairman Paul L. Foster acquired 325,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 9th. The stock was acquired at an average cost of $23.59 per share, for a total transaction of $7,666,750.00. Following the transaction, the chairman now owns 3,109,466 shares of the company’s stock, valued at $73,352,302.94. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Jeff A. Stevens acquired 100,000 shares of the firm’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 transaction, the chief executive officer now directly owns 3,474,156 shares in the company, valued at approximately $80,774,127. The disclosure for this purchase can be found here.
An institutional investor recently raised its position in Western Refining stock. Principal Financial Group Inc. raised its stake in shares of Western Refining Inc. (NYSE:WNR) by 0.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 368,897 shares of the company’s stock after buying an additional 2,367 shares during the period. Principal Financial Group Inc. owned about 0.39% of Western Refining worth $13,140,000 as of its most recent filing with the SEC.
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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