Western Refining Inc. (WNR) Upgraded at Royal Bank Of Canada
Royal Bank Of Canada upgraded shares of Western Refining Inc. (NYSE:WNR) from a sector perform rating to an outperform rating in a research report report published on Tuesday morning. They currently have $35.00 price objective on the stock, up from their previous price objective of $30.00.
A number of other brokerages also recently commented on WNR. Piper Jaffray Cos. increased their price target on Western Refining from $16.00 to $19.00 and gave the company a neutral rating in a report on Monday, August 22nd. Morgan Stanley set a $21.00 price target on Western Refining and gave the company a hold rating in a report on Wednesday, August 3rd. Vetr raised Western Refining from a buy rating to a strong-buy rating and set a $30.67 price target for the company in a report on Wednesday, November 2nd. Credit Suisse Group AG increased their price target on Western Refining from $27.00 to $31.00 and gave the company an outperform rating in a report on Monday, September 19th. Finally, Citigroup Inc. raised Western Refining from a neutral rating to a buy rating and increased their target price for the stock from $23.00 to $34.00 in a report on Wednesday, October 19th. Nine equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The stock currently has a consensus rating of Hold and an average target price of $29.97.
Western Refining (NYSE:WNR) opened at 37.55 on Tuesday. The stock has a 50 day moving average price of $28.33 and a 200-day moving average price of $24.12. Western Refining has a 12-month low of $18.14 and a 12-month high of $46.65. The firm has a market cap of $4.07 billion, a price-to-earnings ratio of 24.61 and a beta of 1.36.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, November 8th. Investors of record on Monday, October 24th were given a $0.38 dividend. This represents a $1.52 annualized dividend and a yield of 4.05%. The ex-dividend date was Thursday, October 20th. Western Refining’s dividend payout ratio is currently 100.00%.
In other Western Refining news, CEO Jeff A. Stevens bought 100,000 shares of the stock in a transaction that occurred on Wednesday, August 24th. The shares were purchased at an average cost of $23.25 per share, for a total transaction of $2,325,000.00. Following the transaction, the chief executive officer now directly owns 3,474,156 shares in the company, valued at $80,774,127. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 26.50% of the stock is owned by corporate insiders.
A number of hedge funds have recently bought and sold shares of the stock. Tower Research Capital LLC TRC boosted its stake in Western Refining by 16.3% in the third quarter. Tower Research Capital LLC TRC now owns 3,965 shares of the company’s stock valued at $105,000 after buying an additional 556 shares in the last quarter. Creative Planning boosted its position in shares of Western Refining by 36.7% in the third quarter. Creative Planning now owns 4,314 shares of the company’s stock valued at $114,000 after buying an additional 1,159 shares during the period. Private Capital Management Inc. purchased a new position in shares of Western Refining during the second quarter valued at about $124,000. Pacer Advisors Inc. purchased a new position in shares of Western Refining during the second quarter valued at about $125,000. Finally, LS Investment Advisors LLC boosted its position in shares of Western Refining by 20.2% in the third quarter. LS Investment Advisors LLC now owns 5,115 shares of the company’s stock valued at $135,000 after buying an additional 860 shares during the period. Hedge funds and other institutional investors own 66.66% 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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