Western Refining Inc. (NYSE:WNR) had its target price hoisted by Credit Suisse Group AG from $27.00 to $31.00 in a research report released on Monday morning. They currently have an outperform rating on the stock.
Other analysts have also issued research reports about the company. Piper Jaffray Cos. raised their price target on Western Refining from $19.00 to $23.00 and gave the stock an overweight rating in a research note on Friday, September 16th. Zacks Investment Research lowered Western Refining from a hold rating to a strong sell rating in a research note on Tuesday, July 5th. Tudor Pickering raised Western Refining from a sell rating to a hold rating in a research note on Tuesday, June 28th. JPMorgan Chase & Co. lowered Western Refining from a neutral rating to an underweight rating and dropped their price target for the stock from $28.00 to $20.00 in a research note on Friday, June 10th. Finally, Goldman Sachs Group Inc. reaffirmed a neutral rating and issued a $22.00 price target on shares of Western Refining in a research note on Thursday, July 14th. Nine equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Western Refining currently has a consensus rating of Hold and an average price target of $30.80.
Western Refining (NYSE:WNR) opened at 28.04 on Monday. The firm’s 50-day moving average is $25.15 and its 200-day moving average is $24.12. Western Refining has a 12-month low of $18.14 and a 12-month high of $47.55. The stock has a market capitalization of $3.04 billion, a P/E ratio of 9.96 and a beta of 1.85.
Western Refining (NYSE:WNR) last released its quarterly earnings data on Tuesday, August 2nd. The company reported $0.72 earnings per share for the quarter, beating analysts’ consensus estimates 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 return on equity of 10.65% and a net margin of 3.20%. The business’s quarterly revenue was down 25.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.44 earnings per share. Analysts predict that Western Refining will post $1.31 EPS for the current fiscal year.
In related news, CEO Jeff A. Stevens purchased 100,000 shares of Western Refining stock in a transaction dated Wednesday, August 24th. The stock was purchased at an average cost 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 directly owns 3,474,156 shares of the company’s stock, valued at $80,774,127. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Also, Chairman Paul L. Foster purchased 325,000 shares of Western Refining stock in a transaction dated Tuesday, August 9th. The shares were bought at an average price of $23.59 per share, with a total value of $7,666,750.00. Following the completion of the acquisition, 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. Insiders own 26.50% of the company’s stock.
Several institutional investors have recently modified their holdings of the stock. Zebra Capital Management LLC boosted its stake in Western Refining by 30.5% in the first quarter. Zebra Capital Management LLC now owns 91,145 shares of the company’s stock valued at $2,651,000 after buying an additional 21,284 shares during the period. Kempen Capital Management N.V. boosted its stake in Western Refining by 41,669.6% in the first quarter. Kempen Capital Management N.V. now owns 758,536 shares of the company’s stock valued at $22,065,000 after buying an additional 756,720 shares during the period. 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 during the period. Spark Investment Management LLC boosted its stake in Western Refining by 111.7% in the first quarter. Spark Investment Management LLC now owns 168,300 shares of the company’s stock valued at $4,895,000 after buying an additional 88,800 shares during the period. Finally, Acrospire Investment Management LLC acquired a new stake in Western Refining during the first quarter valued at approximately $197,000. Hedge funds and other institutional investors own 65.13% 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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