Western Refining Inc. (WNR) Downgraded by Barclays PLC
Western Refining Inc. (NYSE:WNR) was downgraded by equities researchers at Barclays PLC from an “overweight” rating to an “equal weight” rating in a note issued to investors on Monday. They presently have a $30.00 price objective on the stock, up from their previous price objective of $29.00. Barclays PLC’s price target would suggest a potential upside of 8.81% from the company’s previous close.
Other research analysts have also issued reports about the company. Tudor Pickering upgraded Western Refining from a “sell” rating to a “hold” rating in a research note on Tuesday, June 28th. Wells Fargo & Co. restated a “hold” rating on shares of Western Refining in a research note on Saturday, July 9th. Morgan Stanley restated a “hold” rating and issued a $21.00 target price on shares of Western Refining in a research note on Thursday, September 1st. Zacks Investment Research upgraded Western Refining from a “strong sell” rating to a “hold” rating in a research note on Tuesday, August 16th. Finally, Goldman Sachs Group Inc. initiated coverage on Western Refining in a research note on Sunday, July 17th. They issued a “hold” rating for the company. Ten equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Western Refining has a consensus rating of “Hold” and a consensus price target of $30.20.
Western Refining (NYSE:WNR) traded up 0.80% during trading on Monday, hitting $27.57. 1,871,033 shares of the stock were exchanged. The stock’s 50 day moving average price is $26.17 and its 200 day moving average price is $24.01. Western Refining has a 12 month low of $18.14 and a 12 month high of $47.55. The stock has a market cap of $2.99 billion, a P/E ratio of 9.80 and a beta of 1.62.
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Western Refining (NYSE:WNR) last issued its quarterly earnings results on Tuesday, August 2nd. The company reported $0.72 EPS for the quarter, topping analysts’ consensus estimates 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 earned $2.11 billion during the quarter, compared to analyst estimates of $2.11 billion. During the same period in the previous year, the company earned $1.44 earnings per share. The company’s quarterly revenue was down 25.5% compared to the same quarter last year. Analysts forecast that Western Refining will post $1.30 EPS for the current fiscal year.
In other Western Refining news, CEO Jeff A. Stevens bought 100,000 shares of the firm’s stock in a transaction dated Wednesday, August 24th. The shares were bought at an average price of $23.25 per share, for a total transaction of $2,325,000.00. Following the completion of the acquisition, the chief executive officer now owns 3,474,156 shares of the company’s stock, valued at $80,774,127. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Chairman Paul L. Foster bought 325,000 shares of the firm’s stock in a transaction dated Tuesday, August 9th. The shares were acquired at an average price of $23.59 per share, for a total transaction of $7,666,750.00. Following the acquisition, the chairman now directly owns 3,109,466 shares of the company’s stock, valued at approximately $73,352,302.94. The disclosure for this purchase can be found here. Insiders own 26.50% of the company’s stock.
Several hedge funds have recently made changes to their positions in the company. Capital Impact Advisors LLC boosted its stake in shares of Western Refining by 66.7% in the third quarter. Capital Impact Advisors LLC now owns 52,000 shares of the company’s stock valued at $1,376,000 after buying an additional 20,800 shares during the last quarter. Eqis Capital Management Inc. purchased a new position in shares of Western Refining during the third quarter valued at about $332,000. Macquarie Group Ltd. raised its position in shares of Western Refining by 194.5% in the second quarter. Macquarie Group Ltd. now owns 1,487,192 shares of the company’s stock valued at $30,681,000 after buying an additional 982,161 shares during the period. Northwestern Mutual Investment Management Company LLC raised its position in shares of Western Refining by 18.9% in the second quarter. Northwestern Mutual Investment Management Company LLC now owns 13,853 shares of the company’s stock valued at $286,000 after buying an additional 2,206 shares during the period. Finally, Mason Street Advisors LLC purchased a new position in shares of Western Refining during the second quarter valued at about $758,000. Institutional investors own 65.14% of the company’s stock.
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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