Piper Jaffray Maintains Western Refining to Overweight with Price Target $23.00

Brokerage firm Piper Jaffray Maintains its rating on Western Refining(NYSE:WNR). In a research note issued to the investors, the brokerage major Raises the price-target to $23.00 per share. The shares have been rated Overweight. The rating by Piper Jaffray was issued on Sep 16, 2016.

In a different note, On Sep 15, 2016, JP Morgan said it Upgrades its rating on Western Refining. The shares have been rated ‘Neutral’ by the firm. On Aug 22, 2016, Piper Jaffray said it Maintains its rating on Western Refining. In the research note, the firm Raises the price-target to $16.00 per share. The shares have been rated ‘Neutral’ by the firm. On Jul 14, 2016, Goldman Sachs said it Reinstates its rating on Western Refining. The shares have been rated ‘Neutral’ by the firm.

Western Refining (WNR) shares turned negative on Thursdays trading session with the shares closing down -0.12 points or -0.43% at a volume of 21,13,598. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $28.83. The peak price level was also seen at $28.83 while the days lowest was $27.99. Finally the shares closed at $28.04. The 52-week high of the shares is $47.55 while the 52-week low is $18.14. According to the latest information available, the market cap of the company is $3,040 M.

Western Refining(WNR) last announced its earnings results on Aug 2, 2016 for Fiscal Year 2016 and Q2.Company reported revenue of $2.11B. Analysts had an estimated revenue of $1.98B. Earnings per share were $0.72. Analysts had estimated an EPS of $0.57.

Several Insider Transactions has been reported to the SEC. On Aug 25, 2016, Jeff A Stevens (CEO) purchased 100,000 shares at $23.15 per share price.Also, On Aug 11, 2016, Paul L Foster (director officer 10% owner (Chairman of BOD, Exec) purchased 325,000 shares at $23.59 per share price.On May 31, 2016, Brian John Hogan (director) purchased 10,000 shares at $21.41 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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