Brokerages Set Western Refining Inc. (NYSE:WNR) Price Target at $28.14
Western Refining Inc. (NYSE:WNR) has been assigned an average recommendation of “Hold” from the thirteen research firms that are presently covering the firm. Nine equities research analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $28.14.
A number of brokerages have recently commented on WNR. Wells Fargo & Co. restated a “hold” rating on shares of Western Refining in a report on Saturday, July 9th. Goldman Sachs Group Inc. began coverage on shares of Western Refining in a report on Sunday, July 17th. They set a “hold” rating on the stock. Morgan Stanley set a $21.00 target price on shares of Western Refining and gave the company a “hold” rating in a report on Wednesday, August 3rd. Zacks Investment Research upgraded shares of Western Refining from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 16th. Finally, Credit Suisse Group AG boosted their target price on shares of Western Refining from $27.00 to $31.00 and gave the company an “outperform” rating in a report on Monday, September 19th.
In other Western Refining news, CEO Jeff A. Stevens bought 100,000 shares of the firm’s stock in a transaction on Wednesday, August 24th. The stock was acquired 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 owns 3,474,156 shares in the company, valued at $80,774,127. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Chairman Paul L. Foster bought 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, 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 disclosure for this purchase can be found here. 26.50% of the stock is owned by company insiders.
A number of institutional investors have recently modified their holdings of WNR. Private Capital Management Inc. acquired a new position in shares of Western Refining during the second quarter worth $124,000. Pacer Advisors Inc. acquired a new stake in Western Refining during the second quarter valued at approximately $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 during 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 during the last quarter. Finally, Acrospire Investment Management LLC acquired a new stake in Western Refining during the first quarter valued at approximately $197,000. 65.13% of the stock is owned by institutional investors and hedge funds.
Shares of Western Refining (NYSE:WNR) opened at 26.46 on Wednesday. The firm has a 50-day moving average of $25.62 and a 200 day moving average of $24.05. The firm has a market cap of $2.87 billion, a PE ratio of 9.40 and a beta of 1.85. Western Refining has a 52 week low of $18.14 and a 52 week high of $47.55.
Western Refining (NYSE:WNR) last announced its earnings results on Tuesday, August 2nd. The company reported $0.72 EPS for the quarter, beating 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 firm had revenue of $2.11 billion for the quarter, compared to analysts’ expectations of $2.11 billion. During the same quarter in the previous year, the business posted $1.44 EPS. The company’s quarterly revenue was down 25.5% on a year-over-year basis. Equities research analysts predict that Western Refining will post $1.30 EPS for the current fiscal year.
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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