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Investment analysts at Citigroup Inc. initiated coverage on shares of Western Refining (NYSE:WNR) in a note issued to investors on Wednesday, TheFlyOnTheWall.com reports. The firm set a “neutral” rating on the stock.

Shares of Western Refining (NYSE:WNR) opened at 38.59 on Wednesday. Western Refining has a one year low of $25.62 and a one year high of $43.00. The stock’s 50-day moving average is $39.47 and its 200-day moving average is $34.96. The company has a market cap of $3.077 billion and a price-to-earnings ratio of 8.18.

The company also recently declared a quarterly dividend, which is scheduled for Thursday, February 27th. Investors of record on Wednesday, February 12th will be given a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 2.69%. The ex-dividend date of this dividend is Monday, February 10th. This is an increase from Western Refining’s previous quarterly dividend of $0.22.

In other Western Refining news, major shareholder Paul Foster sold 100,000 shares of Western Refining stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $36.36, for a total transaction of $3,636,000.00. Following the completion of the sale, the insider now directly owns 4,152,237 shares of the company’s stock, valued at approximately $150,975,337. The transaction was disclosed in a document filed with the SEC, which is available at this link. Large shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

A number of other firms have also recently commented on WNR. Analysts at Zacks reiterated a “neutral” rating on shares of Western Refining in a research note on Monday, February 10th. They now have a $39.00 price target on the stock. Separately, analysts at Credit Suisse downgraded shares of Western Refining from an “outperform” rating to a “neutral” rating in a research note on Tuesday, January 28th. Finally, analysts at Credit Suisse downgraded shares of Western Refining to a “neutral” rating in a research note on Thursday, January 9th. Ten analysts have rated the stock with a hold rating and six have given a buy rating to the company. Western Refining presently has an average rating of “Hold” and a consensus target price of $37.25.

Western Refining, Inc (NYSE:WNR) is an independent crude oil refiner and marketer of refined products and also operates service stations and convenience stores.

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