Western Refining (WNR) was Upgraded by Citigroup to ” Buy”. Earlier the firm had a rating of “Neutral ” on the company shares. Citigroup advised their investors in a research report released on Oct 19, 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.
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.
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.
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.
In a different news, on Aug 25, 2016, Jeff A Stevens (CEO) purchased 100,000 shares at $23.15 per share price. According to the SEC, on May 31, 2016, Brian John Hogan (director) purchased 10,000 shares at $21.41 per share price. On May 10, 2016, Robert J Hassler (director) purchased 20,000 shares at $22.10 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.