JP Morgan Downgrades Western Refining to Underweight

Brokerage firm JP Morgan Downgrades its rating on Western Refining(NYSE:WNR). The shares have been rated Underweight. Previously, the analysts had a Neutral rating on the shares. The rating by JP Morgan was issued on Jun 10, 2016.

In a different note, On Apr 19, 2016, Tudor Pickering said it Downgrades its rating on Western Refining. The shares have been rated ‘Sell’ by the firm. On Apr 8, 2016, Barclays said it Maintains its rating on Western Refining. In the research note, the firm Lowers the price-target to $39.00 per share. The shares have been rated ‘Overweight’ by the firm.

Western Refining (WNR) made into the market gainers list on Wednesdays trading session with the shares advancing 4.13% or 0.77 points. Due to strong positive momentum, the stock ended at $19.42, which is also near the day’s high of $20.11. The stock began the session at $18.52 and the volume stood at 40,34,581 shares. The 52-week high of the shares is $50.71 and the 52 week low is $18.35. The company has a current market capitalization of $1,773 M and it has 9,12,76,677 shares in outstanding.

Western Refining(WNR) last announced its earnings results on May 3, 2016 for Fiscal Year 2016 and Q1.Company reported revenue of $1.46B. Analysts had an estimated revenue of $1.90B. Earnings per share were $0.13. Analysts had estimated an EPS of $0.19.

Several Insider Transactions has been reported to the SEC. On May 31, 2016, Brian John Hogan (director) purchased 10,000 shares at $21.41 per share price.Also, 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.

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