Western Refining Inc. (WNR) Downgraded by RBC Capital Markets to “Sector Perform”
RBC Capital Markets lowered shares of Western Refining Inc. (NYSE:WNR) from an outperform rating to a sector perform rating in a research note published on Friday morning. They currently have $38.00 target price on the stock, up from their previous target price of $35.00.
A number of other research firms have also weighed in on WNR. Piper Jaffray Cos. raised their price target on shares of Western Refining from $16.00 to $19.00 and gave the company a neutral rating in a research report on Monday, August 22nd. Morgan Stanley set a $21.00 price objective on shares of Western Refining and gave the stock a hold rating in a report on Wednesday, August 3rd. Vetr upgraded shares of Western Refining from a buy rating to a strong-buy rating and set a $30.67 price objective for the company in a report on Wednesday, November 2nd. Royal Bank Of Canada downgraded shares of Western Refining from an outperform rating to a sector perform rating and raised their price objective for the stock from $35.00 to $38.00 in a report on Friday. Finally, Credit Suisse Group AG raised their price objective on shares of Western Refining from $27.00 to $31.00 and gave the stock an outperform rating in a report on Monday, September 19th. Twelve investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The company presently has a consensus rating of Hold and an average price target of $30.44.
Western Refining (NYSE:WNR) traded up 1.29% during mid-day trading on Friday, reaching $36.99. 2,002,024 shares of the company’s stock were exchanged. Western Refining has a 52-week low of $18.14 and a 52-week high of $46.65. The company has a 50-day moving average of $28.64 and a 200-day moving average of $24.19. The stock has a market cap of $4.01 billion, a price-to-earnings ratio of 24.24 and a beta of 1.36.
The company also recently declared a quarterly dividend, which was paid on Tuesday, November 8th. Investors of record on Monday, October 24th were issued a dividend of $0.38 per share. 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 other news, CEO Jeff A. Stevens purchased 100,000 shares of the stock in a transaction that occurred on 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 acquisition, the chief executive officer now directly owns 3,474,156 shares of the company’s stock, valued at approximately $80,774,127. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 26.50% of the company’s stock.
A number of large investors have recently bought and sold shares of the stock. Tower Research Capital LLC TRC raised 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 worth $105,000 after buying an additional 556 shares in the last quarter. Creative Planning raised its stake in Western Refining by 36.7% in the third quarter. Creative Planning now owns 4,314 shares of the company’s stock worth $114,000 after buying an additional 1,159 shares in the last quarter. Private Capital Management Inc. purchased a new stake in Western Refining during the second quarter worth approximately $124,000. Pacer Advisors Inc. purchased a new stake in Western Refining during the second quarter worth approximately $125,000. Finally, LS Investment Advisors LLC raised its stake in Western Refining by 20.2% in the third quarter. LS Investment Advisors LLC now owns 5,115 shares of the company’s stock worth $135,000 after buying an additional 860 shares in the last quarter. Institutional investors own 63.70% 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.
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