Alps Advisors Inc. increased its stake in shares of Western Refining Inc. (NYSE:WNR) by 27.4% during the second quarter, Holdings Channel reports. The fund owned 19,352 shares of the company’s stock after buying an additional 4,160 shares during the period. Alps Advisors Inc.’s holdings in Western Refining were worth $399,000 at the end of the most recent reporting period.
Several other institutional investors also recently modified their holdings of WNR. Glenmede Trust Co. NA boosted its position in shares of 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 during the last quarter. Commonwealth Equity Services Inc boosted its position in shares of 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 during the last quarter. Virginia Retirement System purchased a new position in shares of Western Refining during the first quarter valued at about $355,000. Teachers Advisors Inc. boosted its position in shares of 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 during the last quarter. Finally, BlackRock Inc. boosted its position in shares of 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 during the last quarter. Hedge funds and other institutional investors own 65.14% of the company’s stock.
Western Refining Inc. (NYSE:WNR) traded up 0.80% on Monday, hitting $27.57. The stock had a trading volume of 1,871,033 shares. The firm’s 50-day moving average is $26.17 and its 200-day moving average is $24.01. Western Refining Inc. has a 52-week low of $18.14 and a 52-week high of $47.55. The company has a market cap of $2.99 billion, a P/E ratio of 9.80 and a beta of 1.62.
Western Refining (NYSE:WNR) last posted its earnings results on Tuesday, August 2nd. The company reported $0.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.51 by $0.21. The company earned $2.11 billion during the quarter, compared to analysts’ expectations of $2.11 billion. Western Refining had a return on equity of 10.65% and a net margin of 3.20%. The firm’s quarterly revenue was down 25.5% compared to the same quarter last year. During the same quarter last year, the firm earned $1.44 earnings per share. Equities research analysts anticipate that Western Refining Inc. will post $1.30 earnings per share for the current fiscal year.
WNR has been the topic of several research reports. Tudor Pickering raised Western Refining from a “sell” rating to a “hold” rating in a research report on Tuesday, June 28th. Zacks Investment Research cut Western Refining from a “hold” rating to a “strong sell” rating in a research report on Tuesday, July 5th. Wells Fargo & Co. reissued a “hold” rating on shares of Western Refining in a research note on Saturday, July 9th. Goldman Sachs Group Inc. reissued a “neutral” rating and set a $22.00 target price on shares of Western Refining in a research note on Thursday, July 14th. Finally, Morgan Stanley set a $21.00 target price on Western Refining and gave the company a “hold” rating in a research note on Wednesday, August 3rd. Ten analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $30.20.
In other Western Refining news, CEO Jeff A. Stevens bought 100,000 shares of the business’s stock in a transaction on Wednesday, August 24th. The stock was bought at an average price 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 directly owns 3,474,156 shares in the company, valued at $80,774,127. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Paul L. Foster bought 325,000 shares of the business’s stock in a transaction on Tuesday, August 9th. The shares were acquired 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 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.
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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