JPMorgan Chase & Co. raised its stake in shares of Western Refining Inc. (NYSE:WNR) by 27.1% during the second quarter, Holdings Channel reports. The institutional investor owned 168,914 shares of the company’s stock after buying an additional 35,998 shares during the period. JPMorgan Chase & Co. owned about 0.16% of Western Refining worth $3,484,000 at the end of the most recent quarter.
A number of other hedge funds have also bought and sold shares of WNR. Virginia Retirement System acquired a new stake in Western Refining during the first quarter valued at approximately $355,000. Teachers Advisors Inc. boosted its stake in Western Refining by 16.1% in the first quarter. Teachers Advisors Inc. now owns 456,458 shares of the company’s stock valued at $13,278,000 after buying an additional 63,418 shares in the last quarter. BlackRock Inc. boosted its stake in Western Refining by 40.6% in the first quarter. BlackRock Inc. now owns 43,149 shares of the company’s stock valued at $1,255,000 after buying an additional 12,463 shares in the last quarter. BlackRock Group LTD boosted its stake in Western Refining by 52.2% in the first quarter. BlackRock Group LTD now owns 83,963 shares of the company’s stock valued at $2,443,000 after buying an additional 28,808 shares in the last quarter. Finally, Canada Pension Plan Investment Board boosted its stake in Western Refining by 5.5% in the first quarter. Canada Pension Plan Investment Board now owns 336,300 shares of the company’s stock valued at $9,783,000 after buying an additional 17,600 shares in the last quarter. Hedge funds and other institutional investors own 65.11% of the company’s stock.
Western Refining Inc. (NYSE:WNR) traded up 2.133% during mid-day trading on Tuesday, hitting $28.005. The stock had a trading volume of 262,361 shares. The company has a 50-day moving average price of $26.88 and a 200 day moving average price of $23.88. The company has a market cap of $3.04 billion, a P/E ratio of 9.952 and a beta of 1.62. Western Refining Inc. has a 1-year low of $18.14 and a 1-year high of $47.55.
Western Refining (NYSE:WNR) last announced its earnings results on Tuesday, August 2nd. The company reported $0.72 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.51 by $0.21. The firm earned $2.11 billion during the quarter, compared to analyst estimates of $2.11 billion. Western Refining had a net margin of 3.20% and a return on equity of 10.65%. The company’s revenue for the quarter was down 25.5% compared to the same quarter last year. During the same period in the prior year, the business earned $1.44 EPS. Equities research analysts forecast that Western Refining Inc. will post $1.30 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, November 8th. Investors of record on Monday, October 24th will be paid a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a yield of 5.54%. The ex-dividend date of this dividend is Thursday, October 20th. Western Refining’s payout ratio is presently 54.68%.
A number of brokerages have issued reports on WNR. Tudor Pickering raised Western Refining from a “sell” rating to a “hold” rating in a research note on Tuesday, June 28th. Zacks Investment Research lowered Western Refining from a “hold” rating to a “strong sell” rating in a research note on Tuesday, July 5th. Wells Fargo & Co. reaffirmed a “hold” rating on shares of Western Refining in a research note on Saturday, July 9th. Goldman Sachs Group Inc. reaffirmed a “neutral” rating and set a $22.00 price target on shares of Western Refining in a research note on Thursday, July 14th. Finally, Morgan Stanley set a $21.00 price target on Western Refining and gave the company a “hold” rating in a research note on Wednesday, August 3rd. Ten equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Western Refining presently has an average rating of “Hold” and an average target price of $28.33.
In related news, Chairman Paul L. Foster bought 325,000 shares of Western Refining stock in a transaction that occurred on Tuesday, August 9th. The stock was purchased at an average cost of $23.59 per share, with a total value of $7,666,750.00. Following the purchase, the chairman now owns 3,109,466 shares in the company, valued at $73,352,302.94. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Jeff A. Stevens bought 100,000 shares of Western Refining stock in a transaction that occurred on Wednesday, August 24th. The stock was bought at an average cost of $23.25 per share, with a total value of $2,325,000.00. Following the completion of the purchase, 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.
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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