Research analysts at Dahlman Rose raised their target price on shares of Western Refining (NYSE: WNR)
The analysts wrote, ?WNR reported adjusted EBITDA of $298MM, ahead of our $278MM estimate. During the quarter, Midland crude differentials expanded to a peak of over $14/bbl below WTI, which itself saw discounts of over $20/bbl against Brent. With the completion of the Longhorn reversal and Sunoco?s West Texas Gulf lines, we do not consider it likely this crude environment can be repeated within the intermediate term.? Western Refining traded up 5.10% on Friday, hitting $37.72. Western Refining has a 1-year low of $17.13 and a 1-year high of $37.90. The stock?s 50-day moving average is currently $33.47. The company has a market cap of $3.335 billion and a price-to-earnings ratio of 9.67.
Western Refining last announced its earnings results on Thursday, February 28th. The company reported $1.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.37 by $0.08. The company had revenue of $2.25 billion for the quarter, compared to the consensus estimate of $2.31 billion. During the same quarter in the previous year, the company posted $0.48 earnings per share. The company?s revenue for the quarter was down 1.2% on a year-over-year basis. Analysts expect that Western Refining will post $4.51 EPS for the current fiscal year.
Several other analysts have also recently commented on the stock. Analysts at Zacks reiterated a ?neutral? rating on shares of Western Refining in a research note to investors on Thursday, February 14th. They now have a $38.00 price target on the stock. Separately, analysts at Deutsche Bank raised their price target on shares of Western Refining from $24.00 to $38.00 in a research note to investors on Monday, February 11th. They now have a ?hold? rating on the stock.
Four analysts have rated the stock with a buy rating, two have assigned an overweight rating, and five have given a hold rating to the company. Western Refining currently has an average rating of ?overweight? and an average target price of $36.54.
Western Refining, Inc. (WNR) an independent crude oil refiner and marketer of refined products and also operates service stations and convenience stores.