Western Refining Inc. (WNR) Price Target Increased to $23.00 by Analysts at Piper Jaffray Cos.
Western Refining Inc. (NYSE:WNR) had its price objective raised by Piper Jaffray Cos. from $19.00 to $23.00 in a research report sent to investors on Friday morning. They currently have an overweight rating on the stock.
WNR has been the topic of several other reports. Morgan Stanley set a $21.00 price target on shares of Western Refining and gave the company a hold rating in a report on Wednesday, August 3rd. Tudor Pickering raised shares of Western Refining from a sell rating to a hold rating in a report on Tuesday, June 28th. Zacks Investment Research cut shares of Western Refining from a hold rating to a strong sell rating in a report on Tuesday, July 5th. Goldman Sachs Group Inc. reaffirmed a neutral rating and issued a $22.00 price target on shares of Western Refining in a report on Thursday, July 14th. Finally, JPMorgan Chase & Co. cut shares of Western Refining from a neutral rating to an underweight rating and cut their price target for the company from $28.00 to $20.00 in a report on Friday, June 10th. Nine investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The company presently has an average rating of Hold and a consensus target price of $30.80.
Shares of Western Refining (NYSE:WNR) opened at 28.16 on Friday. The stock has a 50 day moving average of $25.02 and a 200 day moving average of $24.09. Western Refining has a one year low of $18.14 and a one year high of $47.55. The stock has a market cap of $3.05 billion, a P/E ratio of 10.01 and a beta of 1.85.
Western Refining (NYSE:WNR) last posted its earnings results on Tuesday, August 2nd. The company reported $0.72 EPS for the quarter, topping analysts’ consensus estimates of $0.51 by $0.21. Western Refining had a net margin of 3.20% and a return on equity of 10.65%. The business had revenue of $2.11 billion for the quarter, compared to analysts’ expectations of $2.11 billion. During the same period in the previous year, the company posted $1.44 earnings per share. The business’s revenue for the quarter was down 25.5% compared to the same quarter last year. Equities analysts expect that Western Refining will post $1.30 EPS for the current fiscal year.
In other news, Chairman Paul L. Foster purchased 325,000 shares of the stock in a transaction dated Tuesday, August 9th. The stock was acquired at an average price of $23.59 per share, for a total transaction of $7,666,750.00. Following the completion of the transaction, the chairman now owns 3,109,466 shares of the company’s stock, valued at $73,352,302.94. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Jeff A. Stevens purchased 100,000 shares of the stock in a transaction dated Wednesday, August 24th. The shares were purchased at an average price of $23.25 per share, with a total value of $2,325,000.00. Following the transaction, the chief executive officer now directly owns 3,474,156 shares of the company’s stock, valued at approximately $80,774,127. The disclosure for this purchase can be found here. Insiders own 26.50% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the company. Macquarie Group Ltd. raised its position in Western Refining by 194.5% in the second quarter. Macquarie Group Ltd. now owns 1,487,192 shares of the company’s stock valued at $30,681,000 after buying an additional 982,161 shares in the last quarter. Northwestern Mutual Investment Management Company LLC raised its position in Western Refining by 18.9% in the second quarter. Northwestern Mutual Investment Management Company LLC now owns 13,853 shares of the company’s stock valued at $286,000 after buying an additional 2,206 shares in the last quarter. Mason Street Advisors LLC purchased a new position in Western Refining during the second quarter valued at approximately $758,000. Northwestern Mutual Wealth Management Co. raised its position in Western Refining by 43.0% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 9,840 shares of the company’s stock valued at $203,000 after buying an additional 2,961 shares in the last quarter. Finally, Stifel Financial Corp raised its position in Western Refining by 87.8% in the second quarter. Stifel Financial Corp now owns 30,483 shares of the company’s stock valued at $627,000 after buying an additional 14,254 shares in the last quarter. Institutional investors and hedge funds own 65.13% 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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