X
<

A Look at How Western Refining Fared in 2Q16

PART:
1 2 3 4 5
Part 3
A Look at How Western Refining Fared in 2Q16 PART 3 OF 5

Western Refining’s Stock Rose 6.3% after Its Q2 Results

Western Refining’s stock performance

Western Refining (WNR) announced its earnings results before markets opened on August 2, 2016. WNR’s stock opened at $21.68 per share, higher than its previous day’s close of $21.06.

The stock saw a high of $22.75 and a low of $21.68 on the day. Eventually, it closed at $22.38, about 6.3% higher than its previous day’s close.

Western Refining&#8217;s Stock Rose 6.3% after Its Q2 Results

Interested in NTI? Don't miss the next report.

Receive e-mail alerts for new research on NTI

Success! You are now receiving e-mail alerts for new research. A temporary password for your new Market Realist account has been sent to your e-mail address.

Success! has been added to your Ticker Alerts.

Success! has been added to your Ticker Alerts. Subscriptions can be managed in your user profile.

On the same day, peers Northern Tier Energy (NTI), PBF Energy (PBF), and Alon USA Energy (ALJ) rose by 1.1%, 1.7%, and 3.9%, respectively. Crude oil and natural gas prices also rose by 0.5% and 0.1%, respectively.

For diversified exposure to global stocks, you might consider the Vanguard Total World Stock ETF (VT).

Western Refining’s capex position

In 2Q16, Western Refining (WNR) incurred capex (capital expenditure) of $77 million. Of that amount, $43 million was in its Western segment, $26.5 million was in its NTI (Northern Tier Energy Partners’ Refining, Transport, and Retail operations) segment, and $8.1 million was in its WNRL (Western Refining Logistics Operations) segment.

WNR completed its merger transaction with Northern Tier Energy (NTI) in 2Q16. The merger is expected to enhance WNR’s refining capacity and create more than $10 million worth of operational synergies for the merged entity.

On the completion of the merger, WNR’s management stated, “This was a milestone quarter as we completed the Northern Tier transaction and began operating our combined assets as one team. All three refineries ran well during the quarter, retail fuel volumes were strong compared to Q2 2015 and we did a good job managing our expenses.”

X

Please select a profession that best describes you: