Western Refining Inc. (NYSE:WNR) was downgraded by research analysts at Barclays PLC from an “overweight” rating to an “equal weight” rating in a research note issued to investors on Monday. They currently have a $30.00 price objective on the stock, up from their previous price objective of $29.00. Barclays PLC’s price objective points to a potential upside of 8.42% from the stock’s previous close.
Several other equities analysts also recently issued reports on WNR. Goldman Sachs Group Inc. began coverage on shares of Western Refining in a research note on Sunday, July 17th. They issued a “hold” rating for the company. Wells Fargo & Co. restated a “hold” rating on shares of Western Refining in a research note on Saturday, July 9th. Morgan Stanley set a $21.00 price objective on shares of Western Refining and gave the company a “hold” rating in a research note on Wednesday, August 3rd. Credit Suisse Group AG upped their price objective on shares of Western Refining from $27.00 to $31.00 and gave the company an “outperform” rating in a research note on Monday, September 19th. Finally, JPMorgan Chase & Co. upgraded shares of Western Refining from an “underweight” rating to a “neutral” rating and upped their price objective for the company from $20.00 to $28.00 in a research note on Thursday, September 15th. Ten investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $30.20.
Shares of Western Refining (NYSE:WNR) opened at 27.67 on Monday. The stock’s 50 day moving average price is $26.43 and its 200-day moving average price is $23.94. The firm has a market capitalization of $3.00 billion, a PE ratio of 9.83 and a beta of 1.62. Western Refining has a 52-week low of $18.14 and a 52-week high of $47.55.
Western Refining (NYSE:WNR) last issued its 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 net margin of 3.20% and a return on equity of 10.65%. The firm earned $2.11 billion during the quarter, compared to the consensus estimate of $2.11 billion. During the same quarter in the previous year, the firm posted $1.44 earnings per share. The company’s revenue was down 25.5% compared to the same quarter last year. Equities research analysts anticipate that Western Refining will post $1.30 EPS for the current fiscal year.
In other news, CEO Jeff A. Stevens purchased 100,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 24th. The stock was purchased at an average cost 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 of the company’s stock, valued at approximately $80,774,127. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Chairman Paul L. Foster purchased 325,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 9th. The shares were purchased at an average cost 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. Corporate insiders own 26.50% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of WNR. Glenmede Trust Co. NA boosted its position in Western Refining by 34,800.0% in the first quarter. Glenmede Trust Co. NA now owns 17,450 shares of the company’s stock valued at $507,000 after buying an additional 17,400 shares in the last quarter. Commonwealth Equity Services Inc boosted its position in Western Refining by 1.9% in the first quarter. Commonwealth Equity Services Inc now owns 16,631 shares of the company’s stock valued at $484,000 after buying an additional 311 shares in the last quarter. Virginia Retirement System purchased a new position in Western Refining during the first quarter valued at about $355,000. Teachers Advisors Inc. boosted its position 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. Finally, BlackRock Inc. boosted its position 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. 65.14% of the stock is owned by hedge funds and other institutional investors.
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.
Receive News & Ratings for Western Refining Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Western Refining Inc. and related companies with MarketBeat.com's FREE daily email newsletter.