Western Refining Inc. (WNR) Lowered to Sector Perform at Royal Bank Of Canada
Royal Bank Of Canada cut shares of Western Refining Inc. (NYSE:WNR) from an outperform rating to a sector perform rating in a report issued on Friday. They currently have $38.00 target price on the stock, up from their prior target price of $35.00.
A number of other research firms have also weighed in on WNR. RBC Capital Markets raised shares of Western Refining from a sector perform rating to an outperform rating and raised their price target for the company from $30.00 to $35.00 in a report on Tuesday, November 15th. Vetr lowered shares of Western Refining from a strong-buy rating to a buy rating and set a $30.67 price objective for the company. in a report 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 stock from $23.00 to $34.00 in a report 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 stock an outperform rating in a report on Monday, September 19th. Finally, Cowen and Company raised their price objective on shares of Western Refining from $26.00 to $32.00 and gave the stock an outperform rating in a report on Monday, September 19th. Twelve research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The stock currently has a consensus rating of Hold and an average price target of $30.44.
Shares of Western Refining (NYSE:WNR) traded up 0.71% during midday trading on Friday, reaching $36.78. 998,502 shares of the company were exchanged. The stock’s 50-day moving average price is $28.64 and its 200-day moving average price is $24.19. The company has a market capitalization of $3.99 billion, a PE ratio of 24.10 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 firm also recently disclosed a quarterly dividend, which was paid on Tuesday, November 8th. Stockholders of record on Monday, October 24th were paid a $0.38 dividend. The ex-dividend date of this dividend was Thursday, October 20th. This represents a $1.52 annualized dividend and a dividend yield of 4.16%. Western Refining’s dividend payout ratio is currently 100.00%.
In other news, CEO Jeff A. Stevens bought 100,000 shares of the company’s stock in a transaction dated Wednesday, August 24th. The shares were acquired at an average cost of $23.25 per share, with a total value of $2,325,000.00. Following the completion of the transaction, the chief executive officer now directly owns 3,474,156 shares in the company, valued at approximately $80,774,127. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 26.50% of the stock is currently owned by insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Tower Research Capital LLC TRC increased its position 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 during the period. Creative Planning increased its position in 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. LS Investment Advisors LLC increased its position in 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. Cypress Capital Management LLC WY purchased a new position in Western Refining during the third quarter valued at $140,000. Finally, NEXT Financial Group Inc increased its position in Western Refining by 1,694.8% in the third quarter. NEXT Financial Group Inc now owns 5,887 shares of the company’s stock valued at $156,000 after buying an additional 5,559 shares during the period. 63.70% of the stock is currently owned by institutional investors and hedge funds.
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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