UBS Asset Management Americas Inc. boosted its position in shares of Western Refining Inc. (NYSE:WNR) by 9.6% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 73,890 shares of the company’s stock after buying an additional 6,444 shares during the period. UBS Asset Management Americas Inc. owned 0.07% of Western Refining worth $1,524,000 as of its most recent filing with the SEC.
Other hedge funds have also recently added to or reduced their stakes in the company. Private Capital Management Inc. bought a new stake in Western Refining during the second quarter worth approximately $124,000. FineMark National Bank & Trust boosted its stake in shares of Western Refining by 200.0% in the second quarter. FineMark National Bank & Trust now owns 7,500 shares of the company’s stock valued at $155,000 after buying an additional 5,000 shares during the last quarter. Acrospire Investment Management LLC acquired a new stake in shares of Western Refining during the first quarter valued at approximately $197,000. Adams Diversified Equity Fund Inc. acquired a new stake in shares of Western Refining during the second quarter valued at approximately $204,000. Finally, Zweig DiMenna Associates LLC acquired a new stake in shares of Western Refining during the second quarter valued at approximately $229,000. Institutional investors and hedge funds own 65.14% of the company’s stock.
Western Refining Inc. (NYSE:WNR) traded down 1.97% during mid-day trading on Thursday, hitting $26.86. 428,810 shares of the company were exchanged. The stock has a market cap of $2.91 billion, a price-to-earnings ratio of 9.55 and a beta of 1.63. The firm has a 50 day moving average price of $26.55 and a 200 day moving average price of $23.96. Western Refining Inc. has a 12 month low of $18.14 and a 12 month high of $47.55.
Western Refining (NYSE:WNR) last posted its quarterly earnings data on Tuesday, August 2nd. The company reported $0.72 EPS for the quarter, topping analysts’ consensus estimates of $0.51 by $0.21. The firm 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 business posted $1.44 EPS. Analysts anticipate that Western Refining Inc. will post $1.30 EPS for the current fiscal year.
Several analysts have commented on the stock. Cowen and Company lifted their price objective on shares of Western Refining from $26.00 to $32.00 and gave the company an “outperform” rating in a research note on Monday, September 19th. Credit Suisse Group AG upped their target price on shares of Western Refining from $27.00 to $31.00 and gave the stock an “outperform” rating in a report on Monday, September 19th. Piper Jaffray Cos. boosted their price target on shares of Western Refining from $19.00 to $23.00 and gave the company an “overweight” rating in a research report on Friday, September 16th. Barclays PLC cut shares of Western Refining from an “overweight” rating to an “equal weight” rating and boosted their price target for the company from $29.00 to $30.00 in a research report on Monday. Finally, JPMorgan Chase & Co. raised shares of Western Refining from an “underweight” rating to a “neutral” rating and boosted their price target for the company from $20.00 to $28.00 in a research report on Thursday, September 15th. Ten equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Western Refining currently has an average rating of “Hold” and a consensus price target of $30.20.
In other Western Refining news, CEO Jeff A. Stevens purchased 100,000 shares of the stock in a transaction on Wednesday, August 24th. The stock was bought at an average price of $23.25 per share, for a total transaction 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 $80,774,127. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Chairman Paul L. Foster purchased 325,000 shares of the stock in a transaction on Tuesday, August 9th. The stock was acquired at an average price of $23.59 per share, with a total value of $7,666,750.00. Following the acquisition, the chairman now directly owns 3,109,466 shares in the company, 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.
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.