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- MarketLine Department
Western Refining, Inc. - Strategy, SWOT and Corporate Finance Report
Synopsis Western Refining, Inc. - Strategy, SWOT and Corporate Finance Report, is a source of comprehensive company data and information. The report covers the company's structure, operation, SWOT analysis, product and service offerings and corporate actions, providing a 360Ëš view of the company. Summary - Detailed information on Western Refining, Inc. required for business and competitor intelligence needs - A study of the major internal and external factors affecting Western Refining, Inc....
- Allen Good
- CFA
Western Refining is benefiting from a smaller, well-positioned asset b...
Western Refining closed out 2016 on a sour note, reporting a loss of $7.8 million, a sharp decline from its $52.2 million profit last year. Refining was again the culprit, with operating income sliding to $18.8 million from $30.1 million last year on weaker product margins, narrower crude spreads, and higher costs. Western’s realized margin for the quarter fell to $8.06/barrel from $13.13/bbl last year, while operating expenses increased to $5.46/bbl from $4.94/bbl on greater turnaround activi...
- Allen Good
- CFA
Western Posts Loss as Refining Conditions Sour in Fourth Quarter
Western Refining closed out 2016 on a sour note, reporting a loss of $7.8 million, a sharp decline from its $52.2 million profit last year. Refining was again the culprit, with operating income sliding to $18.8 million from $30.1 million last year on weaker product margins, narrower crude spreads, and higher costs. Western’s realized margin for the quarter fell to $8.06/barrel from $13.13/bbl last year, while operating expenses increased to $5.46/bbl from $4.94/bbl on greater turnaround activi...
- Allen Good
- CFA
Danger Zone: Coming Shale Growth Poses Major Risks to Oil Prices
OPEC's production cuts and strong demand growth have 2017 crude fundamentals in their best shape since oil prices crashed two years ago. The consensus outlook is that fundamentals are now strong enough to remain healthy even after OPEC's cuts lapse. This might have been possible a few months ago, but the odds of this scenario playing out have markedly worsened since. The reason is that major increases in shale activity now have U.S. production firmly on a path of rapid growth, even if rig counts...
Ford Equity US Rating and Forecast Report
Ford Equity Research covers more than 4,000 stocks using a proprietary quantitative model that evaluates a company’s earnings strength, its relative valuation and recent price movement. Ford’s five recommendation ratings include strong buy, buy, hold, sell, strong sell. For all stocks in our coverage universe, ratings are generated each week and reflect the fundamental and price data as of the last trading day of the week.
- Allen Good
- CFA
Nothing Novel About It: OPEC Adds a Twist to the Plot, but the Ending ...
OPEC's announced production cuts this week represent a positive near-term development for world oil markets, removing more than 1 million barrels per day from an oversupplied system. Even after factoring in the inevitable U.S. shale response to higher crude prices, OPEC's cuts point to a meaningful supply deficit next year. Consequently, we are raising our 2017 WTI price to $60 per barrel, up from $50 previously. Improved near-term fundamentals come at a cost, however. Even a modest recovery in ...
SHAREHOLDER ALERT: Brower Piven Commences An Investigation Into The Pr...
STEVENSON, Md.--(BUSINESS WIRE)-- The securities litigation law firm of Brower Piven, A Professional Corporation, has commenced an investigation into possible breaches of fiduciary duty and other violations of state law by the Board of Directors of Western Refining, Inc. (NYSE: WNR) (“Western Refining” or the “Company”) relating to the proposed buyout of Western Refining by Tesoro Corp. Under the terms of the agreement, Western Refining shareholders are anticipated to receive 0.4350 Tesoro shares for each share they own or ...
WESTERN REFINING, INC. SHAREHOLDER ALERT: Former SEC Attorney Willie B...
DALLAS--(BUSINESS WIRE)-- Former United States Securities and Exchange Commission attorney Willie Briscoe and the securities litigation firm of Powers Taylor LLP are investigating potential claims against the Board of Directors of Western Refining, Inc. (“Western Refining”) (NYSE: WNR) concerning the sale to Tesoro Corp. Under the terms of the agreement, Western Refining shareholders will only receive 0.4350 Tesoro shares for each share they own or $37.30 in cash, which is virtually no premium over the 52-week high. If...
- Allen Good
- CFA
Tesoro Pounces on Western Refining; Valuation Reasonable While Strateg...
Tesoro announced plans to acquire Western Refining for 0.4350 shares of Tesoro or $37.30 per share based on the Nov. 16 closing price. Including the assumption of $1.7 billion in debt and the $605 million market value of Western’s non-controlling interest in Western Refining Logistics, the transaction represents an enterprise value of $6.4 billion. We plan to adjust our fair value estimate for Western to reflect the offer price as we see the deal as likely to close. While Tesoro is paying a p...
WESTERN REFINING, INC. SHAREHOLDER ALERT: Rigrodsky & Long, P.A. Annou...
WILMINGTON, Del.--(BUSINESS WIRE)-- Rigrodsky & Long, P.A.: Do you own shares of Western Refining, Inc. (NYSE: WNR)? Did you purchase any of your shares prior to November 17, 2016? Do you think the proposed buyout value is too low? Do you want to discuss your rights? Rigrodsky & Long, P.A. announces that it is investigating potential legal claims against the board of directors of Western Refining, Inc. (“Western Refining” or the “Company”) (NYSE: WNR...
- Allen Good
- CFA
Oil and Gas Sector Likely to Fare Well Under Trump Administration
For global energy markets, the potential knock-on impacts of a Donald Trump presidency could be meaningful in a few areas. With respect to U.S. oil and gas producers, we can say that the tail risk for regulation of hydraulic fracturing and methane emissions is now somewhat lower. Thus far, the Environmental Protection Agency has maintained that the systemic environmental impact of hydraulic fracturing is benign. A Trump-led EPA is less likely to reverse this view than a Hillary Clinton-led EPA. ...
- Allen Good
- CFA
Western’s Q3 Earnings Drop; Improving Competitive Position Should Bo...
Western's reported third-quarter adjusted income fell to $50.0 million from $160.2 million a year ago, as all three of its segments posted declines in operating income. The decline in refining operating income was the most severe, falling to $89.2 million from $312.6 million last year on a steep drop in realized refining margins to $12.02/barrel from $20.65/bbl. WNRL’s operating income, with historical results adjusted for St. Paul and the TexNew Mex Pipeline transaction, which increased expen...
- Allen Good
- CFA
OPEC Cuts, U.S. E&Ps Drill: Our Oil Price Outlook Remains Unchanged
In a somewhat surprising development, OPEC members have tentatively agreed to a production target of between 32.5 million and 33.3 million barrels per day, representing a reduction of up to 700 mb/d from current production levels of 33.2 mmb/d. Oil prices rallied on the news, but our view for continued low prices of $50/bbl in 2017 (detailed in our Aug. 26 report) remains unchanged, as we do not believe the potential reduction will have a meaningful sustainable impact on oil prices. While the lo...
- Allen Good
- CFA
Crude-Market Fundamentals Continue to Tighten, but the Recovery Still ...
Crude markets have tightened a good deal in recent months, as strong oil demand growth and supply issues have pulled forward the industry recovery by about a year compared with the outlook we published in April. Even so, 2017 fundamentals are far from robust from an oil price perspective, and don't appear supportive of prices moving much above the $50 per barrel threshold. Another large uptick in rig additions in the U.S. could be enough to eliminate near-term inventory draws altogether, which i...
Insider bought/gave away: A director bought/gave away 650,000 shares a...
A director at Western Refining Inc bought/gave away 650,000 shares at 0.000USD and the significance rating of the trade was 67/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the l...
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