Sell Western Refining, Inc.
It is time to close the two open 30 Day Dividends positions in Western Refining, Inc. (NYSE:WNR). The overall refining industry did not get the usual summer increase in profit margins, and our WNR trades did not achieve as large of profits as I predicted. However, both trades will close out with positive returns.
I recommended purchasing WNR twice. The first was at the end of February 2016. With WNR now just above $26, that position is slightly above break even. I show a 0.50% gain including dividends. The second position was recommended on June 1, and now sits at a 16% gain over three plus months. That works out to 60% annualized.
It’s time to sell your WNR positions. I will watch the refining metrics and see how next spring and summer set up for the refining industry.
Recommendation: Close out all WNR positions with a target sell price of $26 or above.