Western Refining, Inc. (NYSE:WNR) was downgraded by equities research analysts at Credit Suisse Group AG from an “outperform” rating to a “neutral” rating in a note issued to investors on Friday. They currently have a $40.00 price target on the stock, down from their previous price target of $48.00. Credit Suisse Group AG’s price objective would suggest a potential upside of 13.64% from the company’s previous close.
Separately, Zacks Investment Research upgraded shares of Western Refining from a “hold” rating to a “buy” rating and set a $43.00 price objective on the stock in a report on Saturday, January 7th. Eleven 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 an average rating of “Hold” and an average target price of $30.64.
Shares of Western Refining (NYSE:WNR) opened at 35.20 on Friday. The company has a market capitalization of $3.83 billion, a PE ratio of 28.39 and a beta of 1.26. The stock has a 50 day moving average of $36.57 and a 200-day moving average of $33.61. Western Refining has a 12-month low of $18.14 and a 12-month high of $40.09.
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A number of hedge funds have recently modified their holdings of the company. Victory Capital Management Inc. raised its stake in shares of Western Refining by 1.6% in the third quarter. Victory Capital Management Inc. now owns 9,227 shares of the company’s stock worth $244,000 after buying an additional 143 shares during the period. Chicago Partners Investment Group LLC raised its stake in shares of Western Refining by 1.2% in the third quarter. Chicago Partners Investment Group LLC now owns 15,893 shares of the company’s stock worth $421,000 after buying an additional 182 shares during the period. Tower Research Capital LLC TRC raised its stake in shares of Western Refining by 16.3% in the third quarter. Tower Research Capital LLC TRC now owns 3,965 shares of the company’s stock worth $105,000 after buying an additional 556 shares during the period. LS Investment Advisors LLC raised its stake in shares of Western Refining by 20.2% in the third quarter. LS Investment Advisors LLC now owns 5,115 shares of the company’s stock worth $135,000 after buying an additional 860 shares during the period. Finally, UBS Asset Management Americas Inc. raised its stake in shares of Western Refining by 1.4% in the third quarter. UBS Asset Management Americas Inc. now owns 74,890 shares of the company’s stock worth $1,982,000 after buying an additional 1,000 shares during the period. Institutional investors own 64.84% of the company’s stock.
Western Refining Company Profile
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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