Western Refining Inc. (NYSE:WNR) was upgraded by equities researchers at Vetr from a “buy” rating to a “strong-buy” rating in a report released on Wednesday. The firm currently has a $30.67 price target on the stock. Vetr‘s price objective indicates a potential downside of 17.64% from the company’s current price.
A number of other research analysts have also issued reports on the company. Morgan Stanley reiterated a “hold” rating and issued a $21.00 target price on shares of Western Refining in a report on Thursday, September 1st. Citigroup Inc. upgraded Western Refining from a “neutral” rating to a “buy” rating and lifted their target price for the company from $23.00 to $34.00 in a report on Wednesday, October 19th. Piper Jaffray Cos. lifted their target price on Western Refining from $16.00 to $19.00 and gave the company a “neutral” rating in a report on Monday, August 22nd. Goldman Sachs Group Inc. reiterated a “neutral” rating and issued a $22.00 target price on shares of Western Refining in a report on Thursday, July 14th. Finally, Cowen and Company lifted their target price on Western Refining from $26.00 to $32.00 and gave the company an “outperform” rating in a report on Monday, September 19th. Twelve analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Western Refining has an average rating of “Hold” and a consensus target price of $30.44.
Shares of Western Refining (NYSE:WNR) traded up 0.40% on Wednesday, hitting $37.24. The stock had a trading volume of 1,104,331 shares. The stock has a 50 day moving average price of $29.77 and a 200-day moving average price of $24.62. Western Refining has a 12-month low of $18.14 and a 12-month high of $46.65. The company has a market cap of $4.04 billion, a price-to-earnings ratio of 24.40 and a beta of 1.36.
The company also recently announced a quarterly dividend, which was paid on Tuesday, November 8th. Stockholders of record on Monday, October 24th were given a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a dividend yield of 4.08%. The ex-dividend date of this dividend was Thursday, October 20th. Western Refining’s dividend payout ratio (DPR) is currently 100.00%.
Several hedge funds have recently bought and sold shares of the company. Squarepoint Ops LLC boosted its stake in Western Refining by 2.5% in the first quarter. Squarepoint Ops LLC now owns 78,802 shares of the company’s stock worth $2,293,000 after buying an additional 1,959 shares during the period. Mount Lucas Management LP boosted its position in shares of Western Refining by 11.5% in the first quarter. Mount Lucas Management LP now owns 28,388 shares of the company’s stock valued at $826,000 after buying an additional 2,922 shares during the period. Metropolitan Life Insurance Co. NY boosted its position in shares of Western Refining by 0.4% in the first quarter. Metropolitan Life Insurance Co. NY now owns 110,512 shares of the company’s stock valued at $3,215,000 after buying an additional 414 shares during the period. A.R.T. Advisors LLC boosted its position in shares of Western Refining by 69.5% in the first quarter. A.R.T. Advisors LLC now owns 48,551 shares of the company’s stock valued at $1,412,000 after buying an additional 19,900 shares during the period. Finally, Envestnet Asset Management Inc. boosted its position in shares of Western Refining by 24.0% in the first quarter. Envestnet Asset Management Inc. now owns 28,548 shares of the company’s stock valued at $830,000 after buying an additional 5,534 shares during the period. Institutional investors and hedge funds own 63.70% 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.