Western Refining Inc. (WNR) Trading Down 2.3%
Western Refining Inc. (NYSE:WNR) shares were down 2.3% during mid-day trading on Tuesday . The stock traded as low as $27.83 and last traded at $27.99, with a volume of 1,541,831 shares. The stock had previously closed at $28.64.
Several research analysts have recently issued reports on WNR shares. JPMorgan Chase & Co. cut Western Refining from a “neutral” rating to an “underweight” rating and lowered their price objective for the stock from $28.00 to $20.00 in a research report on Friday, June 10th. Tudor Pickering raised Western Refining from a “sell” rating to a “hold” rating in a research report on Tuesday, June 28th. Zacks Investment Research cut Western Refining from a “hold” rating to a “strong sell” rating in a research report on Tuesday, July 5th. Wells Fargo & Co. reaffirmed a “hold” rating on shares of Western Refining in a research report on Saturday, July 9th. Finally, Goldman Sachs Group Inc. reaffirmed a “neutral” rating and set a $22.00 price objective on shares of Western Refining in a research report on Thursday, July 14th. Nine research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $30.80.
The stock has a market capitalization of $3.01 billion, a price-to-earnings ratio of 9.86 and a beta of 1.85. The firm’s 50 day moving average is $24.66 and its 200-day moving average is $24.06.
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Western Refining (NYSE:WNR) last released its quarterly earnings data on Tuesday, August 2nd. The company reported $0.72 EPS for the quarter, beating the consensus estimate of $0.51 by $0.21. Western Refining had a return on equity of 10.65% and a net margin of 3.20%. The company had revenue of $2.11 billion for the quarter, compared to analyst estimates of $2.11 billion. During the same period last year, the company posted $1.44 earnings per share. The firm’s revenue was down 25.5% compared to the same quarter last year. On average, analysts anticipate that Western Refining Inc. will post $1.27 earnings per share for the current fiscal year.
In related news, CEO Jeff A. Stevens acquired 100,000 shares of the business’s stock in a transaction on Wednesday, August 24th. The shares were bought at an average cost 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 of the company’s stock, valued at approximately $80,774,127. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman Paul L. Foster acquired 325,000 shares of the business’s stock in a transaction on Tuesday, August 9th. The stock was bought at an average cost of $23.59 per share, for a total transaction of $7,666,750.00. Following the completion of the transaction, the chairman now directly owns 3,109,466 shares of the company’s stock, valued at $73,352,302.94. The disclosure for this purchase can be found here. 26.50% of the stock is owned by company insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. ProShare Advisors LLC raised its position in Western Refining by 1.0% in the second quarter. ProShare Advisors LLC now owns 23,099 shares of the company’s stock valued at $477,000 after buying an additional 234 shares during the period. Commonwealth Equity Services Inc raised its position in Western Refining by 1.9% in the first quarter. Commonwealth Equity Services Inc now owns 16,631 shares of the company’s stock valued at $484,000 after buying an additional 311 shares during the period. Teacher Retirement System of Texas raised its position in Western Refining by 3.5% in the second quarter. Teacher Retirement System of Texas now owns 9,549 shares of the company’s stock valued at $197,000 after buying an additional 324 shares during the period. Metropolitan Life Insurance Co. NY raised its position in Western Refining by 0.4% in the first quarter. Metropolitan Life Insurance Co. NY now owns 110,512 shares of the company’s stock valued at $3,215,000 after buying an additional 414 shares during the period. Finally, Advantus Capital Management Inc raised its position in Western Refining by 6.9% in the second quarter. Advantus Capital Management Inc now owns 9,718 shares of the company’s stock valued at $200,000 after buying an additional 630 shares during the period. 65.13% of the stock is currently owned by institutional investors.
Western Refining Company Profile
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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