Western Refining Logistics’ (WNRL) Outperform Rating Reiterated at Credit Suisse Group AG

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Western Refining Logistics LP (NYSE:WNRL)‘s stock had its “outperform” rating reissued by equities research analysts at Credit Suisse Group AG in a research note issued on Monday. They presently have a $31.00 price objective on the stock, up from their previous price objective of $27.00. Credit Suisse Group AG’s price target suggests a potential upside of 38.70% from the stock’s current price.
WNRL has been the topic of several other research reports. JPMorgan Chase & Co. lowered Western Refining Logistics from a “neutral” rating to an “underweight” rating in a report on Monday, June 13th. Zacks Investment Research lowered Western Refining Logistics from a “hold” rating to a “sell” rating in a report on Wednesday, July 6th. TheStreet upgraded Western Refining Logistics from a “sell” rating to a “hold” rating in a report on Tuesday, August 2nd. Finally, Cowen and Company reiterated an “outperform” rating and set a $32.00 price target (up previously from $26.00) on shares of Western Refining Logistics in a report on Monday. Six research analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. Western Refining Logistics currently has a consensus rating of “Buy” and a consensus target price of $28.33.
Western Refining Logistics (NYSE:WNRL) remained flat at $22.35 during mid-day trading on Monday. The stock had a trading volume of 192,693 shares. The firm has a 50-day moving average price of $23.87 and a 200-day moving average price of $23.60. Western Refining Logistics has a one year low of $17.35 and a one year high of $26.94. The company has a market capitalization of $1.16 billion, a PE ratio of 16.83 and a beta of 0.94.

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Western Refining Logistics (NYSE:WNRL) last announced its quarterly earnings data on Tuesday, August 2nd. The company reported $0.33 earnings per share for the quarter, missing analysts’ consensus estimates of $0.37 by $0.04. The business earned $578.60 million during the quarter, compared to the consensus estimate of $488.40 million. The business’s quarterly revenue was down 21.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.34 EPS. Equities analysts anticipate that Western Refining Logistics will post $1.42 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 26th. Investors of record on Friday, August 12th were given a dividend of $0.4125 per share. This represents a $1.65 dividend on an annualized basis and a dividend yield of 7.38%. This is an increase from Western Refining Logistics’s previous quarterly dividend of $0.40. The ex-dividend date was Wednesday, August 10th.
In other news, insider Jeff A. Stevens bought 134,408 shares of the company’s stock in a transaction on Thursday, September 8th. The stock was bought at an average cost of $22.32 per share, with a total value of $2,999,986.56. Following the transaction, the insider now directly owns 410,691 shares in the company, valued at approximately $9,166,623.12. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Michael C. Linn bought 11,200 shares of the company’s stock in a transaction on Thursday, September 8th. The stock was purchased at an average cost of $22.32 per share, with a total value of $249,984.00. Following the completion of the transaction, the director now owns 28,148 shares in the company, valued at $628,263.36. The disclosure for this purchase can be found here.
A number of institutional investors have recently added to or reduced their stakes in WNRL. Harvest Fund Advisors LLC increased its position in Western Refining Logistics by 1.5% in the second quarter. Harvest Fund Advisors LLC now owns 3,811,520 shares of the company’s stock valued at $99,824,000 after buying an additional 56,215 shares in the last quarter. Guggenheim Capital LLC increased its position in Western Refining Logistics by 311.1% in the second quarter. Guggenheim Capital LLC now owns 58,583 shares of the company’s stock valued at $1,534,000 after buying an additional 44,333 shares in the last quarter. Barclays PLC increased its position in Western Refining Logistics by 63.2% in the second quarter. Barclays PLC now owns 36,578 shares of the company’s stock valued at $958,000 after buying an additional 14,159 shares in the last quarter. Uniplan Investment Counsel Inc. purchased a new position in Western Refining Logistics during the second quarter valued at $5,357,000. Finally, US Bancorp DE increased its position in Western Refining Logistics by 2.2% in the second quarter. US Bancorp DE now owns 15,640 shares of the company’s stock valued at $410,000 after buying an additional 334 shares in the last quarter.
Western Refining Logistics Company Profile
Western Refining Logistics, LP owns, operates, develops, and acquires logistics and related assets and businesses to include terminals, storage tanks, pipelines and other logistics assets related to the terminaling, transportation, storage and distribution of crude oil and refined products. The Company’s segments are the logistics segment and the wholesale segment.

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