Western Refining Inc. (WNR) Declares Dividend of $0.38
Western Refining Inc. (NYSE:WNR) declared a dividend on Thursday, October 13th. Investors of record on Monday, October 24th will be paid a dividend of 0.38 per share on Tuesday, November 8th. The ex-dividend date of this dividend is Thursday, October 20th.
Western Refining (NYSE:WNR) opened at 27.25 on Friday. The company’s 50 day moving average is $26.66 and its 200 day moving average is $23.98. The stock has a market cap of $2.95 billion, a PE ratio of 9.68 and a beta of 1.63. Western Refining has a one year low of $18.14 and a one year high of $47.55.
Western Refining (NYSE:WNR) last posted its quarterly earnings results on Tuesday, August 2nd. The company reported $0.72 EPS for the quarter, topping the consensus estimate of $0.51 by $0.21. Western Refining had a net margin of 3.20% and a return on equity of 10.65%. The company earned $2.11 billion during the quarter, compared to analysts’ expectations of $2.11 billion. During the same quarter in the previous year, the business posted $1.44 EPS. The firm’s revenue was down 25.5% on a year-over-year basis. On average, equities research analysts expect that Western Refining will post $1.30 EPS for the current year.
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Several research analysts have commented on the stock. Barclays PLC cut shares of Western Refining from an “overweight” rating to an “equal weight” rating and boosted their price target for the stock from $29.00 to $30.00 in a report on Monday. Credit Suisse Group AG boosted their price target on shares of Western Refining from $27.00 to $31.00 and gave the stock an “outperform” rating in a report on Monday, September 19th. Cowen and Company boosted their price target on shares of Western Refining from $26.00 to $32.00 and gave the stock an “outperform” rating in a report on Monday, September 19th. Piper Jaffray Cos. boosted their price target on shares of Western Refining from $19.00 to $23.00 and gave the stock an “overweight” rating in a report on Friday, September 16th. Finally, JPMorgan Chase & Co. upgraded shares of Western Refining from an “underweight” rating to a “neutral” rating and boosted their price target for the stock from $20.00 to $28.00 in a report on Thursday, September 15th. Ten analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Western Refining has a consensus rating of “Hold” and an average target price of $30.20.
In other news, 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 price 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 in the company, valued at $73,352,302.94. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Jeff A. Stevens acquired 100,000 shares of the business’s stock in a transaction on Wednesday, August 24th. The shares were purchased at an average price of $23.25 per share, with a total value of $2,325,000.00. Following the transaction, the chief executive officer now owns 3,474,156 shares in the company, valued at approximately $80,774,127. The disclosure for this purchase can be found here. 26.50% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently made changes to their positions in WNR. Pacer Advisors Inc. purchased a new position in shares of Western Refining during the second quarter worth approximately $125,000. Advantus Capital Management Inc increased its position in shares of Western Refining by 6.9% in the second quarter. Advantus Capital Management Inc now owns 9,718 shares of the company’s stock worth $200,000 after buying an additional 630 shares during the last quarter. Fiduciary Financial Services of The Southwest Inc. TX purchased a new position in shares of Western Refining during the second quarter worth approximately $234,000. Fort L.P. purchased a new position in shares of Western Refining during the second quarter worth approximately $273,000. Finally, American National Registered Investment Advisor Inc. purchased a new position in shares of Western Refining during the second quarter worth approximately $279,000. Institutional investors own 65.14% of the company’s stock.
About Western Refining
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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