First Quadrant L P CA Has $122,000 Stake in Western Refining Inc. (WNR)
First Quadrant L P CA reduced its position in Western Refining Inc. (NYSE:WNR) by 84.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,900 shares of the company’s stock after selling 31,200 shares during the period. First Quadrant L P CA’s holdings in Western Refining were worth $122,000 at the end of the most recent reporting period.
A number of other hedge funds also recently modified their holdings of the company. Wellington Management Group LLP increased its stake in shares of Western Refining by 1,442.6% in the first quarter. Wellington Management Group LLP now owns 2,009,919 shares of the company’s stock worth $58,469,000 after buying an additional 1,879,626 shares in the last quarter. State Street Corp increased its stake in shares of Western Refining by 4.7% in the first quarter. State Street Corp now owns 3,401,738 shares of the company’s stock worth $98,958,000 after buying an additional 152,319 shares in the last quarter. BlackRock Inc. increased its stake in shares of Western Refining by 40.6% in the first quarter. BlackRock Inc. now owns 43,149 shares of the company’s stock worth $1,255,000 after buying an additional 12,463 shares in the last quarter. Canada Pension Plan Investment Board increased its stake in shares of Western Refining by 5.5% in the first quarter. Canada Pension Plan Investment Board now owns 336,300 shares of the company’s stock worth $9,783,000 after buying an additional 17,600 shares in the last quarter. Finally, BlackRock Group LTD raised its stake in Western Refining by 52.2% in the first quarter. BlackRock Group LTD now owns 83,963 shares of the company’s stock worth $2,443,000 after buying an additional 28,808 shares during the last quarter. Institutional investors own 65.13% of the company’s stock.
Shares of Western Refining Inc. (NYSE:WNR) traded up 0.95% during midday trading on Friday, reaching $27.69. The company had a trading volume of 4,145,858 shares. The company has a market capitalization of $3.00 billion, a P/E ratio of 9.84 and a beta of 1.85. Western Refining Inc. has a 52 week low of $18.14 and a 52 week high of $47.55. The company’s 50 day moving average price is $23.89 and its 200-day moving average price is $24.05.
Western Refining (NYSE:WNR) last released its quarterly earnings data 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 company had revenue of $2.11 billion for the quarter, compared to analyst estimates of $2.11 billion. Western Refining had a return on equity of 10.65% and a net margin of 3.20%. The firm’s revenue for the quarter was down 25.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.44 earnings per share. On average, equities research analysts predict that Western Refining Inc. will post $1.27 earnings per share for the current fiscal year.
A number of analysts have weighed in on the company. Wells Fargo & Co. reiterated a “hold” rating on shares of Western Refining in a research note on Saturday, July 9th. Goldman Sachs Group Inc. assumed coverage on Western Refining in a research note on Sunday, July 17th. They issued a “hold” rating on the stock. Morgan Stanley set a $21.00 target price on Western Refining and gave the stock a “hold” rating in a research note on Wednesday, August 3rd. JPMorgan Chase & Co. upgraded Western Refining from an “underweight” rating to a “neutral” rating and increased their target price for the stock from $20.00 to $28.00 in a research note on Thursday. Finally, Piper Jaffray Cos. increased their target price on Western Refining from $19.00 to $23.00 and gave the stock an “overweight” rating in a research note on Friday. Nine equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Western Refining currently has a consensus rating of “Hold” and an average price target of $32.00.
In other Western Refining news, Chairman Paul L. Foster purchased 325,000 shares of the firm’s stock in a transaction dated Tuesday, August 9th. The shares were acquired at an average price of $23.59 per share, with a total value of $7,666,750.00. Following the purchase, the chairman now directly owns 3,109,466 shares in the company, valued at approximately $73,352,302.94. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Jeff A. Stevens purchased 100,000 shares of the firm’s stock in a transaction dated Wednesday, August 24th. The stock was acquired at an average cost of $23.25 per share, for a total transaction of $2,325,000.00. Following the purchase, the chief executive officer now owns 3,474,156 shares in the company, valued at $80,774,127. The disclosure for this purchase can be found here. 26.50% of the stock is owned by insiders.
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.
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