An issue of Western Refining Inc. (NYSE:WNR) bonds rose 3.9% against their face value during trading on Thursday. The debt issue has a 6.25% coupon and will mature on April 1, 2021. The bonds in the issue are now trading at $103.69 and were trading at $99.75 last week. Price moves in a company’s bonds in credit markets often predict parallel moves in its stock price.

Several equities research analysts have issued reports on the company. 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 research note on Wednesday, November 2nd. Credit Suisse Group AG reaffirmed a “buy” rating and set a $31.00 price target on shares of Western Refining in a research note on Tuesday, November 8th. Morgan Stanley set a $21.00 price target on Western Refining and gave the stock a “hold” rating in a research note on Wednesday, August 3rd. RBC Capital Markets lowered Western Refining from an “outperform” rating to a “sector perform” rating and lifted their price target for the stock from $35.00 to $38.00 in a research note on Friday. Finally, Royal Bank Of Canada raised Western Refining from a “sector perform” rating to an “outperform” rating and lifted their price target for the stock from $30.00 to $35.00 in a research note on Tuesday. Twelve research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $30.44.

Shares of Western Refining Inc. (NYSE:WNR) opened at 36.52 on Friday. Western Refining Inc. has a 1-year low of $18.14 and a 1-year high of $46.65. The stock has a 50 day moving average price of $27.76 and a 200-day moving average price of $24.02. The company has a market cap of $3.96 billion, a price-to-earnings ratio of 23.93 and a beta of 1.36.

The business also recently announced a quarterly dividend, which was paid on Tuesday, November 8th. Investors of record on Monday, October 24th were issued a $0.38 dividend. The ex-dividend date was Thursday, October 20th. This represents a $1.52 dividend on an annualized basis and a yield of 4.16%. Western Refining’s dividend payout ratio is currently 100.00%.

In related news, CEO Jeff A. Stevens bought 100,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 24th. The shares were bought at an average cost of $23.25 per share, with a total value of $2,325,000.00. Following the acquisition, the chief executive officer now owns 3,474,156 shares in the company, valued at $80,774,127. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 26.50% of the stock is owned by corporate insiders.

Institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. boosted its position 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 worth $169,472,000 after buying an additional 447,699 shares in the last quarter. BlackRock Fund Advisors boosted its position in shares of Western Refining by 13.2% in the third quarter. BlackRock Fund Advisors now owns 4,374,801 shares of the company’s stock worth $115,757,000 after buying an additional 511,087 shares in the last quarter. State Street Corp boosted its position in shares of Western Refining by 27.5% in the second quarter. State Street Corp now owns 4,338,337 shares of the company’s stock worth $89,500,000 after buying an additional 936,599 shares in the last quarter. Prudential Financial Inc. boosted its position in shares of Western Refining by 46.9% in the second quarter. Prudential Financial Inc. now owns 3,791,097 shares of the company’s stock worth $78,210,000 after buying an additional 1,210,995 shares in the last quarter. Finally, BlackRock Institutional Trust Company N.A. boosted its position in shares of Western Refining by 32.7% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 3,324,778 shares of the company’s stock worth $87,974,000 after buying an additional 819,556 shares in the last quarter. 66.66% of the stock is currently 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.

5 Day Chart for NYSE:WNR

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