Western Refining Inc. (WNR) PT Raised to $31.00 at Credit Suisse Group AG
Western Refining Inc. (NYSE:WNR) had its target price lifted by equities research analysts at Credit Suisse Group AG from $27.00 to $31.00 in a research note issued on Monday. The brokerage presently has an “outperform” rating on the stock. Credit Suisse Group AG’s target price suggests a potential upside of 11.67% from the company’s previous close.
WNR has been the subject of a number of other research reports. Zacks Investment Research raised shares of Western Refining from a “strong sell” rating to a “hold” rating in a research note on Tuesday, August 16th. Cowen and Company upped 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. Goldman Sachs Group Inc. assumed coverage on shares of Western Refining in a research note on Sunday, July 17th. They issued a “hold” rating for the company. Wells Fargo & Co. reaffirmed a “hold” rating on shares of Western Refining in a research note on Saturday, July 9th. Finally, Morgan Stanley reaffirmed a “hold” rating and issued a $21.00 price objective on shares of Western Refining in a research note on Thursday, September 1st. Nine research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Western Refining currently has an average rating of “Hold” and an average price target of $30.80.
Shares of Western Refining (NYSE:WNR) opened at 27.76 on Monday. Western Refining has a 12-month low of $18.14 and a 12-month high of $47.55. The firm has a market capitalization of $3.01 billion, a PE ratio of 9.86 and a beta of 1.85. The firm has a 50-day moving average of $24.85 and a 200-day moving average of $24.06.
Western Refining (NYSE:WNR) last released its quarterly earnings results on Tuesday, August 2nd. The company reported $0.72 EPS for the quarter, topping the Zacks’ consensus estimate 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 earned $2.11 billion during the quarter, compared to analysts’ expectations of $2.11 billion. During the same quarter in the previous year, the company earned $1.44 EPS. The business’s quarterly revenue was down 25.5% compared to the same quarter last year. Equities analysts anticipate that Western Refining will post $1.32 earnings per share for the current year.
In related news, Chairman Paul L. Foster acquired 325,000 shares of the firm’s stock in a transaction on Tuesday, August 9th. The stock was acquired at an average cost of $23.59 per share, for a total transaction of $7,666,750.00. Following the acquisition, 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 document filed with the SEC, which is available at this hyperlink. Also, CEO Jeff A. Stevens acquired 100,000 shares of the firm’s stock in a transaction on Wednesday, August 24th. The stock was bought at an average price of $23.25 per share, with a total value of $2,325,000.00. Following the completion of the acquisition, the chief executive officer now directly owns 3,474,156 shares in the company, valued at approximately $80,774,127. The disclosure for this purchase can be found here. 26.50% of the stock is currently owned by company insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of the company. Macquarie Group Ltd. raised its position in shares of 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 during the period. Northwestern Mutual Investment Management Company LLC increased its stake 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 worth $286,000 after buying an additional 2,206 shares in the last quarter. Mason Street Advisors LLC acquired a new stake in Western Refining during the second quarter worth $758,000. Northwestern Mutual Wealth Management Co. increased its stake 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 worth $203,000 after buying an additional 2,961 shares in the last quarter. Finally, Stifel Financial Corp increased its stake in Western Refining by 87.8% in the second quarter. Stifel Financial Corp now owns 30,483 shares of the company’s stock worth $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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