Western Refining Inc. (WNR) Upgraded to Outperform by RBC Capital Markets
Western Refining Inc. (NYSE:WNR) was upgraded by investment analysts at RBC Capital Markets from a “sector perform” rating to an “outperform” rating in a report issued on Tuesday.
A number of other research firms have also weighed in on WNR. Royal Bank Of Canada raised shares of Western Refining from a “sector perform” rating to an “outperform” rating and raised their price objective for the company from $30.00 to $35.00 in a research note on Tuesday. Vetr lowered shares of Western Refining from a “strong-buy” rating to a “buy” rating and set a $30.67 price objective on the stock. in a research note on Wednesday, November 9th. Citigroup Inc. raised shares of Western Refining from a “neutral” rating to a “buy” rating and raised their price objective for the company from $23.00 to $34.00 in a research note on Wednesday, October 19th. Credit Suisse Group AG raised their price objective on shares of Western Refining from $27.00 to $31.00 and gave the company an “outperform” rating in a research note on Monday, September 19th. Finally, Cowen and Company increased their target price 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. Nine analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Western Refining currently has a consensus rating of “Hold” and an average target price of $29.56.
Shares of Western Refining (NYSE:WNR) opened at 28.71 on Tuesday. Western Refining has a one year low of $18.14 and a one year high of $46.65. The company has a market cap of $3.11 billion, a P/E ratio of 18.81 and a beta of 1.36. The company’s 50 day moving average is $27.76 and its 200 day moving average is $24.02.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, November 8th. Stockholders of record on Monday, October 24th were given a $0.38 dividend. The ex-dividend date was Thursday, October 20th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 5.29%. Western Refining’s dividend payout ratio (DPR) is currently 100.00%.
In other news, CEO Jeff A. Stevens acquired 100,000 shares of the business’s stock in a transaction dated Wednesday, August 24th. The stock was bought at an average cost of $23.25 per share, for a total transaction of $2,325,000.00. Following the completion of the transaction, the chief executive officer now owns 3,474,156 shares of the company’s stock, valued at $80,774,127. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 26.50% of the stock is currently owned by insiders.
Large investors have recently made changes to their positions in the stock. Wellington Management Group LLP raised 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 valued at $58,469,000 after buying an additional 1,879,626 shares during the last quarter. ING Groep NV bought a new stake in shares of Western Refining during the second quarter valued at about $18,594,000. KBC Group NV bought a new stake in shares of Western Refining during the second quarter valued at about $3,688,000. Vanguard Group Inc. raised its stake in shares of Western Refining by 5.8% in the second quarter. Vanguard Group Inc. now owns 8,214,844 shares of the company’s stock valued at $169,472,000 after buying an additional 447,699 shares during the last quarter. Finally, Credit Capital Investments LLC bought a new stake in shares of Western Refining during the second quarter valued at about $413,000. Institutional investors and hedge funds own 66.66% of the company’s stock.
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.
Receive News & Stock Ratings for Western Refining Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Western Refining Inc. and related stocks with our FREE daily email newsletter.