Fairbanks Capital Management Lowers stake in Western Refining (WNR)

Western Refining (WNR) : Fairbanks Capital Management reduced its stake in Western Refining by 58.89% during the most recent quarter end. The investment management company now holds a total of 36,573 shares of Western Refining which is valued at $997,711 after selling 52,389 shares in Western Refining , the firm said in a disclosure report filed with the SEC on Oct 17, 2016.Western Refining makes up approximately 1.14% of Fairbanks Capital Management’s portfolio.

Other Hedge Funds, Including , Sonora Investment Management added WNR to its portfolio by purchasing 1,000 company shares during the most recent quarter which is valued at $27,280. Western Refining makes up approx 0.01% of Sonora Investment Management’s portfolio.Capstone Asset Management Co boosted its stake in WNR in the latest quarter, The investment management firm added 3,073 additional shares and now holds a total of 110,416 shares of Western Refining which is valued at $3,055,211. Western Refining makes up approx 0.09% of Capstone Asset Management Co’s portfolio.Creative Planning boosted its stake in WNR in the latest quarter, The investment management firm added 1,159 additional shares and now holds a total of 4,314 shares of Western Refining which is valued at $119,368.Oregon Public Employees Retirement Fund reduced its stake in WNR by selling 9,659 shares or 28.7% in the most recent quarter. The Hedge Fund company now holds 23,997 shares of WNR which is valued at $661,597. Western Refining makes up approx 0.01% of Oregon Public Employees Retirement Fund’s portfolio. Advisory Services Network sold out all of its stake in WNR during the most recent quarter. The investment firm sold 183 shares of WNR which is valued $5,005.

Western Refining opened for trading at $27.53 and hit $27.705 on the upside on Friday, eventually ending the session at $27.28, with a gain of 0.11% or 0.03 points. The heightened volatility saw the trading volume jump to 14,09,954 shares. Company has a market cap of $2,958 M.

On the company’s financial health, Western Refining reported $0.72 EPS for the quarter, beating the analyst consensus estimate by $ 0.20 according to the earnings call on Aug 2, 2016. Analyst had a consensus of $0.52. The company had revenue of $2107.30 million for the quarter, compared to analysts expectations of $2071.62 million. The company’s revenue was down -25.5 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $1.44 EPS.

Investors should note that on Oct 13, 2016, Western Refining announced a cash dividend of $0.3800. The company’s management has announced Oct 20, 2016 as the ex-dividend date and fixed the record date on Oct 24, 2016. The payable date has been fixed on Nov 8, 2016.

Many Wall Street Analysts have commented on Western Refining. Company shares were Downgraded by Barclays on Oct 10, 2016 to ” Equal Weight”, Firm has raised the Price Target to $ 30 from a previous price target of $29 .Company shares were Reiterated by Cowen on Sep 19, 2016 to “Outperform”, Firm has raised the Price Target to $ 32 from a previous price target of $26 .Western Refining was Upgraded by JP Morgan to ” Neutral” on Sep 15, 2016.

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.

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