Strong Oil Market Fuels Rebound At Western Refining
Posted on June 22, 2012 at 15:55 PM EDT
A few years ago Western Refining seemed like a prime candidate for bankruptcy. The independent crude oil refiner was sagging under a heavy debt load, watching sales go south and losing money by the barrelful. Its stock price fell to around $4 a share in February 2010 after trading near 66 less than two years earlier. Today, Western (WNR) looks like an entirely different company. It posted robust profits last year and is expected to earn even more