Several brokerages have updated their recommendations and price targets on shares of Western Refining (NYSE: WNR) in the last few weeks:
- 9/19/2016 – Western Refining had its price target raised by analysts at Cowen and Company from $26.00 to $32.00. They now have an “outperform” rating on the stock.
- 9/19/2016 – Western Refining had its price target raised by analysts at Credit Suisse Group AG from $27.00 to $31.00. They now have an “outperform” rating on the stock.
- 9/16/2016 – Western Refining had its price target raised by analysts at Piper Jaffray Cos. from $19.00 to $23.00. They now have an “overweight” rating on the stock.
- 9/15/2016 – Western Refining was upgraded by analysts at JPMorgan Chase & Co. from an “underweight” rating to a “neutral” rating. They now have a $28.00 price target on the stock, up previously from $20.00.
- 9/6/2016 – Western Refining had its “outperform” rating reaffirmed by analysts at Credit Suisse Group AG.
- 9/1/2016 – Western Refining had its “hold” rating reaffirmed by analysts at Morgan Stanley. They now have a $21.00 price target on the stock.
- 8/22/2016 – Western Refining had its price target raised by analysts at Piper Jaffray Cos. from $16.00 to $19.00. They now have a “neutral” rating on the stock.
- 8/16/2016 – Western Refining was upgraded by analysts at Zacks Investment Research from a “strong sell” rating to a “hold” rating. According to Zacks, “Western Refining revealed that the third quarter had a reassuring start with demand for gasoline remaining favorable. Further, the price of crude, which the company uses as an input for manufacturing refined products, is way below the mid-2014 level. Both the events are likely to help the company generate significant cash flow going ahead. Moreover, the company has a history of creating value for its shareholders by increasing dividend and repurchasing shares. However, investors' pessimistic outlook could be gauged from the company's suppressed share price that has plunged around 32% year-to-date. Moreover, the elevated debt levels following the NTI acquisition is another headwind that needs to be addressed.”
Shares of Western Refining Inc. (NYSE:WNR) opened at 26.46 on Monday. The stock’s 50 day moving average price is $25.62 and its 200 day moving average price is $24.05. The firm has a market capitalization of $2.87 billion, a price-to-earnings ratio of 9.40 and a beta of 1.62. Western Refining Inc. has a one year low of $18.14 and a one year high of $47.55.
Western Refining (NYSE:WNR) last issued its quarterly earnings results on Tuesday, August 2nd. The company reported $0.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.51 by $0.21. Western Refining had a return on equity of 10.65% and a net margin of 3.20%. The business had revenue of $2.11 billion for the quarter, compared to analyst estimates of $2.11 billion. During the same quarter in the prior year, the firm posted $1.44 earnings per share. The firm’s revenue for the quarter was down 25.5% compared to the same quarter last year. Analysts expect that Western Refining Inc. will post $1.30 EPS for the current fiscal year.
In related news, Chairman Paul L. Foster acquired 325,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 9th. The stock was acquired at an average price of $23.59 per share, for a total transaction of $7,666,750.00. Following the completion of the acquisition, the chairman now owns 3,109,466 shares of the company’s stock, valued at approximately $73,352,302.94. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Jeff A. Stevens acquired 100,000 shares of the company’s stock in a transaction that occurred 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 acquisition, the chief executive officer now directly owns 3,474,156 shares of the company’s stock, valued at approximately $80,774,127. The disclosure for this purchase can be found here. 26.50% of the stock is owned by corporate insiders.
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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