Insider Selling: Lowry Barfield Sells 10,000 Shares of Western Refining Stock (WNR)
Western Refining (NYSE:WNR) VP Lowry Barfield sold 10,000 shares of the company’s stock on the open market in a transaction dated Monday, July 14th. The stock was sold at an average price of $40.49, for a total transaction of $404,900.00. Following the completion of the transaction, the vice president now directly owns 7,417 shares in the company, valued at approximately $300,314. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
Shares of Western Refining (NYSE:WNR) traded down 0.22% during mid-day trading on Wednesday, hitting $40.74. 1,516,458 shares of the company’s stock traded hands. Western Refining has a 52-week low of $27.10 and a 52-week high of $45.00. The stock has a 50-day moving average of $40.02 and a 200-day moving average of $39.84. The company has a market cap of $3.251 billion and a P/E ratio of 14.30. Western Refining also was the target of a large drop in short interest in the month of June. As of June 30th, there was short interest totalling 5,608,345 shares, a drop of 58.8% from the June 13th total of 13,619,597 shares. Based on an average daily volume of 1,687,501 shares, the short-interest ratio is currently 3.3 days. Approximately 7.3% of the company’s stock are short sold.
Western Refining (NYSE:WNR) last released its earnings data on Tuesday, May 6th. The company reported $0.44 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.73 by $0.29. The company had revenue of $3.73 billion for the quarter, compared to the consensus estimate of $2.32 billion. During the same quarter in the previous year, the company posted $0.94 earnings per share. The company’s revenue for the quarter was up 71.0% on a year-over-year basis. Analysts expect that Western Refining will post $3.66 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Thursday, August 14th. Stockholders of record on Wednesday, July 30th will be given a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 2.55%.
A number of research firms have recently commented on WNR. Analysts at Citigroup Inc. upgraded shares of Western Refining from a “neutral” rating to a “buy” rating in a research note on Monday, July 7th. They now have a $12.00 price target on the stock, down previously from $82.00. Separately, analysts at Zacks reiterated a “neutral” rating on shares of Western Refining in a research note on Thursday, July 3rd. They now have a $41.00 price target on the stock. Four analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The company has an average rating of “Buy” and an average target price of $38.40.
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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