Western Refining Inc. (NYSE:WNR) was downgraded by investment analysts at Barclays PLC from an “overweight” rating to an “equal weight” rating in a research report issued on Monday, The Fly reports.
A number of other research firms have also recently weighed in on WNR. Cowen and Company upped their price target on Western Refining from $26.00 to $32.00 and gave the stock an “outperform” rating in a report on Monday, September 19th. Credit Suisse Group AG upped their price target on 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. upped their price target on Western Refining from $19.00 to $23.00 and gave the stock an “overweight” rating in a report on Friday, September 16th. JPMorgan Chase & Co. upgraded Western Refining from an “underweight” rating to a “neutral” rating and upped their price target for the stock from $20.00 to $28.00 in a report on Thursday, September 15th. Finally, Morgan Stanley restated a “hold” rating and issued a $21.00 price target on shares of Western Refining in a report on Thursday, September 1st. Ten analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $30.80.
Western Refining (NYSE:WNR) opened at 27.35 on Monday. The company has a 50-day moving average of $26.17 and a 200-day moving average of $24.01. The stock has a market capitalization of $2.97 billion, a price-to-earnings ratio of 9.72 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 released its quarterly earnings results on Tuesday, August 2nd. The company reported $0.72 earnings per share for the quarter, topping the Zacks’ consensus estimate 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%. Western Refining’s quarterly revenue was down 25.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.44 EPS. Equities research analysts expect that Western Refining will post $1.30 EPS for the current year.
In other news, Chairman Paul L. Foster purchased 325,000 shares of the company’s stock in a transaction that occurred 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 transaction, the chairman now owns 3,109,466 shares in the company, valued at approximately $73,352,302.94. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Jeff A. Stevens purchased 100,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 24th. The shares were purchased at an average cost of $23.25 per share, for a total transaction of $2,325,000.00. Following the completion of the transaction, the chief executive officer now owns 3,474,156 shares in the company, valued at approximately $80,774,127. The disclosure for this purchase can be found here. Corporate insiders own 26.50% of the company’s stock.
Several large investors have recently bought and sold shares of WNR. Private Capital Management Inc. purchased a new stake in Western Refining during the second quarter valued at about $124,000. Pacer Advisors Inc. purchased a new stake in Western Refining during the second quarter valued at about $125,000. FineMark National Bank & Trust raised its stake in 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 in the last quarter. Victory Capital Management Inc. raised its stake in Western Refining by 17.6% in the second quarter. Victory Capital Management Inc. now owns 9,084 shares of the company’s stock valued at $187,000 after buying an additional 1,358 shares in the last quarter. Finally, Acrospire Investment Management LLC purchased a new stake in Western Refining during the first quarter valued at about $197,000. 65.14% of the stock is currently owned by institutional investors and hedge funds.
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.