Western Refining Inc. (NYSE:WNR) had its target price raised by Piper Jaffray Cos. from $19.00 to $23.00 in a research report released on Friday morning. They currently have an overweight rating on the stock.
A number of other equities research analysts have also issued reports on WNR. Wells Fargo & Co. reiterated a hold rating on shares of Western Refining in a report on Saturday, July 9th. Goldman Sachs Group Inc. began coverage on shares of Western Refining in a report on Sunday, July 17th. They set a hold rating on the stock. Morgan Stanley set a $21.00 target price on shares of Western Refining and gave the stock a hold rating in a report on Wednesday, August 3rd. JPMorgan Chase & Co. upgraded shares of Western Refining from an underweight rating to a neutral rating and increased their target price for the stock from $20.00 to $28.00 in a report on Thursday, September 15th. Finally, Credit Suisse Group AG reiterated an outperform rating on shares of Western Refining in a report on Tuesday, September 6th. Nine research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The company has a consensus rating of Hold and a consensus price target of $30.80.
Shares of Western Refining (NYSE:WNR) opened at 28.16 on Friday. Western Refining has a one year low of $18.14 and a one year high of $47.55. The stock has a market capitalization of $3.05 billion, a price-to-earnings ratio of 10.01 and a beta of 1.85. The stock’s 50 day moving average is $25.02 and its 200-day moving average is $24.09.
Western Refining (NYSE:WNR) last released its earnings results on Tuesday, August 2nd. The company reported $0.72 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.51 by $0.21. The company had revenue of $2.11 billion for 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 firm’s quarterly revenue was down 25.5% on a year-over-year basis. During the same period in the prior year, the business earned $1.44 EPS. On average, equities research analysts predict that Western Refining will post $1.30 EPS for the current fiscal year.
In other news, CEO Jeff A. Stevens bought 100,000 shares of the stock in a transaction dated Wednesday, August 24th. The shares were acquired at an average price of $23.25 per share, with a total value of $2,325,000.00. Following the completion of the acquisition, the chief executive officer now directly owns 3,474,156 shares in the company, valued at $80,774,127. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Chairman Paul L. Foster bought 325,000 shares of the stock in a transaction dated Tuesday, August 9th. The stock was purchased at an average cost of $23.59 per share, for a total transaction of $7,666,750.00. Following the acquisition, the chairman now 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. Company insiders own 26.50% of the company’s stock.
Several hedge funds have recently modified their holdings of WNR. Wellington Management Group LLP increased its stake in shares of Western Refining by 1,442.6% in the first quarter. Wellington Management Group LLP now owns 2,009,919 shares of the company’s stock valued at $58,469,000 after buying an additional 1,879,626 shares during the last quarter. Prudential Financial Inc. increased its stake in shares of Western Refining by 116.8% in the first quarter. Prudential Financial Inc. now owns 2,580,102 shares of the company’s stock valued at $75,056,000 after buying an additional 1,390,173 shares during the last quarter. Macquarie Group Ltd. increased its stake 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 last quarter. State Street Corp increased its stake in shares of Western Refining by 27.5% in the second quarter. State Street Corp now owns 4,338,337 shares of the company’s stock valued at $89,500,000 after buying an additional 936,599 shares during the last quarter. Finally, ING Groep NV purchased a new stake in shares of Western Refining during the second quarter valued at $18,594,000. 65.13% of the stock is currently owned by institutional investors and hedge funds.
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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