Western Refining (WNR) was Downgraded by JP Morgan to ” Underweight”. Earlier the firm had a rating of “Neutral ” on the company shares. JP Morgan advised their investors in a research report released on Jun 10, 2016.
Many Wall Street Analysts have commented on Western Refining. Shares were Reiterated by Barclays on Apr 8, 2016 to “Overweight” and Lowered the Price Target to $ 36 from a previous price target of $39 .
On the company’s financial health, Western Refining reported $0.13 EPS for the quarter, missing the analyst consensus estimate by $ -0.11 based on the information available during the earnings call on May 3, 2016. Analyst had a consensus of $0.24. The company had revenue of $1455.50 million for the quarter, compared to analysts expectations of $1839.00 million. The company’s revenue was down -37.2 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $1.18 EPS.
Western Refining closed down -0.45 points or -2.04% at $21.59 with 30,30,977 shares getting traded on Thursday. Post opening the session at $21.91, the shares hit an intraday low of $21.3 and an intraday high of $21.91 and the price fluctuated in this range throughout the day.Shares ended Thursday session in Red.
In a different news, on May 31, 2016, Brian John Hogan (director) purchased 10,000 shares at $21.41 per share price. According to the SEC, on May 10, 2016, Robert J Hassler (director) purchased 20,000 shares at $22.10 per share price. On May 9, 2016, Jeff A Stevens (CEO) purchased 150,000 shares at $21.89 per share price, according to the Form-4 filing with the securities and exchange commission.
Western Refining Inc. (Western) is an independent crude oil refiner and marketer of refined products. The Company operates through four business segments: refining Northern Tier Energy LP (NTI) Western Refining Logistics LP (WNRL) and retail. The Company’s refining segment owns and operates two refineries in the Southwest that process crude oil and other feedstocks primarily into gasoline diesel fuel jet fuel and asphalt. The NTI segment owns and operates refining and transportation assets and operates and supports retail convenience stores primarily in the Upper Great Plains region of the United States. The WNRL segment owns and operates terminal storage transportation and provides related services primarily to its refining segment in the Southwest. The retail segment operates retail convenience stores and unmanned commercial fleet fueling locations located in the Southwest. The retail convenience stores sell gasoline diesel fuel and convenience store merchandise.