Western Refining Inc. (WNR) Sees Significant Growth in Short Interest
Western Refining Inc. (NYSE:WNR) was the target of a significant growth in short interest during the month of August. As of August 31st, there was short interest totalling 12,205,707 shares, a growth of 39.3% from the August 15th total of 8,762,842 shares. Approximately 14.7% of the company’s shares are short sold. Based on an average trading volume of 2,889,540 shares, the days-to-cover ratio is presently 4.2 days.
A number of analysts have commented on WNR shares. Piper Jaffray Cos. upped 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 research report on Wednesday, August 3rd. Tudor Pickering raised shares of Western Refining from a “sell” rating to a “hold” rating in a research report on Tuesday, June 28th. Zacks Investment Research cut shares of Western Refining from a “hold” rating to a “strong sell” rating in a research report on Tuesday, July 5th. Finally, Goldman Sachs Group Inc. reissued a “neutral” rating and set a $22.00 price objective on shares of Western Refining in a research report on Thursday, July 14th. Nine investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $32.00.
Shares of Western Refining (NYSE:WNR) opened at 27.69 on Friday. The stock has a market cap of $3.00 billion, a price-to-earnings ratio of 9.84 and a beta of 1.85. Western Refining has a 1-year low of $18.14 and a 1-year high of $47.55. The firm has a 50-day moving average of $23.89 and a 200 day moving average of $24.05.
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Western Refining (NYSE:WNR) last released its quarterly earnings data on Tuesday, August 2nd. The company reported $0.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.51 by $0.21. Western Refining had a net margin of 3.20% and a return on equity of 10.65%. The firm had revenue of $2.11 billion for the quarter, compared to analysts’ expectations of $2.11 billion. During the same quarter in the previous year, the company earned $1.44 earnings per share. The company’s revenue for the quarter was down 25.5% compared to the same quarter last year. Equities research analysts forecast that Western Refining will post $1.27 earnings per share for the current year.
In other news, CEO Jeff A. Stevens purchased 100,000 shares of the business’s stock in a transaction on Wednesday, August 24th. The shares were acquired at an average price 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 owns 3,474,156 shares of the company’s stock, valued at approximately $80,774,127. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Chairman Paul L. Foster purchased 325,000 shares of the business’s stock in a transaction on Tuesday, August 9th. The shares were purchased at an average cost of $23.59 per share, for a total transaction of $7,666,750.00. Following the transaction, the chairman now directly owns 3,109,466 shares of the company’s stock, valued at approximately $73,352,302.94. The disclosure for this purchase can be found here. Company insiders own 26.50% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in WNR. Norges Bank purchased a new position in Western Refining during the fourth quarter worth about $24,935,000. Capstone Asset Management Co. boosted its position in shares of Western Refining by 1.5% in the first quarter. Capstone Asset Management Co. now owns 105,189 shares of the company’s stock valued at $3,060,000 after buying an additional 1,553 shares in the last quarter. Capital Impact Advisors LLC boosted its position in shares of Western Refining by 188.9% in the first quarter. Capital Impact Advisors LLC now owns 31,200 shares of the company’s stock valued at $908,000 after buying an additional 20,400 shares in the last quarter. Sit Investment Associates Inc. boosted its position in shares of Western Refining by 12.4% in the first quarter. Sit Investment Associates Inc. now owns 48,850 shares of the company’s stock valued at $1,421,000 after buying an additional 5,375 shares in the last quarter. Finally, Glenmede Trust Co. NA boosted its position in shares of Western Refining by 34,800.0% in the first quarter. Glenmede Trust Co. NA now owns 17,450 shares of the company’s stock valued at $507,000 after buying an additional 17,400 shares in the last quarter. Hedge funds and other institutional investors own 65.13% 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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