Western Refining Inc. (WNR) Cut to Buy at Vetr Inc.
Vetr downgraded shares of Western Refining Inc. (NYSE:WNR) from a strong-buy rating to a buy rating in a research note released on Wednesday morning. They currently have $30.67 target price on the stock.
WNR has been the subject of a number of other research reports. Zacks Investment Research upgraded shares of Western Refining from a strong sell rating to a hold rating in a report on Tuesday, August 16th. Credit Suisse Group AG reiterated an outperform rating on shares of Western Refining in a report on Tuesday, September 6th. Cowen and Company raised their price objective on shares of Western Refining from $26.00 to $32.00 and gave the company an outperform rating in a report on Monday, September 19th. Goldman Sachs Group Inc. began coverage on shares of Western Refining in a report on Sunday, July 17th. They issued a hold rating for the company. Finally, Barclays PLC lowered shares of Western Refining from an overweight rating to an equal weight rating and raised their price objective for the company from $29.00 to $30.00 in a report on Monday, October 10th. Nine research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The company presently has an average rating of Hold and a consensus price target of $29.06.
Western Refining (NYSE:WNR) opened at 28.33 on Wednesday. The firm has a 50-day moving average of $27.76 and a 200-day moving average of $24.02. The company has a market cap of $3.07 billion, a price-to-earnings ratio of 18.56 and a beta of 1.36. Western Refining has a 52 week low of $18.14 and a 52 week high of $46.65.
The business also recently disclosed 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 annualized dividend and a dividend yield of 5.37%. The ex-dividend date of this dividend was Thursday, October 20th. Western Refining’s dividend payout ratio (DPR) is 100.00%.
In related news, CEO Jeff A. Stevens acquired 100,000 shares of Western Refining stock in a transaction dated 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 transaction, the chief executive officer now directly owns 3,474,156 shares in the company, valued at approximately $80,774,127. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 26.50% of the company’s stock.
Several hedge funds have recently made changes to their positions in WNR. Spirit of America Management Corp NY bought a new stake in shares of Western Refining during the second quarter valued at approximately $1,513,000. BNP Paribas Arbitrage SA increased its stake in Western Refining by 14,124.6% in the second quarter. BNP Paribas Arbitrage SA now owns 102,844 shares of the company’s stock valued at $2,122,000 after buying an additional 102,121 shares during the last quarter. Clear Harbor Asset Management LLC increased its stake in Western Refining by 1,132.5% in the first quarter. Clear Harbor Asset Management LLC now owns 73,950 shares of the company’s stock valued at $2,151,000 after buying an additional 67,950 shares during the last quarter. Squarepoint Ops LLC increased 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 valued at $2,293,000 after buying an additional 1,959 shares during the last quarter. Finally, Mount Lucas Management LP increased its stake in 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 last quarter. 65.22% of the stock is owned by institutional investors.
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.
To view Vetr’s full report, visit Vetr’s official website.
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