Western Midstream Partners LP (NYSE: WES) is -2.49% lower on its value in year-to-date trading and has touched a low of $21.66 and a high of $29.11 in the current 52-week trading range. The question becomes, what are the chances the stock will make a comeback and enjoy potential growth. Why not look at analysts view on what the future holds for the stock. The WES stock was last observed hovering at around $25.98 in the last trading session, with the day’s loss setting it -0.14% off its average median price target of $32.00 for the next 12 months. It is also 28.22% off the consensus price target high of $36.00 offered by 15 analysts, but current levels are 4.3% higher than the price target low of $27.00 for the same period.
Currently trading at $25.84, the stock is -0.28% and -0.18% below its SMA20 and SMA50 respectively. However, with a daily trading volume of 0.79 million and changing -0.54% at the moment leaves the stock -2.66% off its SMA200. WES registered 0.62% gain for a year compared to 6-month loss of -4.69%. The firm has a 50-day simple moving average (SMA 50) of $5.02 and a 200-day simple moving average (SMA200) of $7.86.
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The stock witnessed a -1.90% gain in the last 1 month and extending the period to 3 months gives it a -0.94%, and is -2.86% down over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 2.51% over the week and 2.79% over the month.
Western Midstream Partners LP (WES) has around 1217 employees, a market worth around $9.86B and $3.23B in sales. Current P/E ratio is 9.32 and Fwd P/E is 8.07. Profit margin for the company is 33.70%. Distance from 52-week low is 19.28% and -11.25% from its 52-week high. The company has generated returns on investments over the last 12 months (16.20%).
Western Midstream Partners LP (WES) Analyst Forecasts
Analyst recommendations provided by FactSet shows that the consensus forecast for Western Midstream Partners LP (WES) is a “Overweight”. 15 analysts offering their recommendations for the stock have an average rating of 1.90, where 2 rate it as a Hold and 4 think it is a “Overweight”. 9 of the analysts rate the stock as a “Buy”. 0 analysts have rated the stock as a Sell or Underperform.
Western Midstream Partners LP is expected to release its quarterly report on 08/07/2023.The EPS is expected to grow by 38.00% this year
Western Midstream Partners LP (WES) Top Institutional Holders
The shares outstanding are 384.47M, and float is at 380.77M with Short Float at 1.81%.
Western Midstream Partners LP (WES) Insider Activity
A total of 66 insider transactions have happened at Western Midstream Partners LP (WES) in the last six months, with sales accounting for 31 and purchases happening 35 times. The most recent transaction is an insider sale by OCCIDENTAL PETROLEUM CORP /DE/, the company’s 10% Owner. SEC filings show that OCCIDENTAL PETROLEUM CORP /DE/ sold 10,000,000 shares of the company’s common stock on Jul 21 at a price of $25.25 per share for a total of $252.5 million. Following the sale, the insider now owns 190.28 million shares.
Western Midstream Partners LP disclosed in a document filed with the SEC on Jul 21 that OCCIDENTAL PETROLEUM CORP /DE/ (10% Owner) sold a total of 10,000,000 shares of the company’s common stock. The trade occurred on Jul 21 and was made at $25.25 per share for $252.5 million. Following the transaction, the insider now directly holds 190.28 million shares of the WES stock.
Still, SEC filings show that on Jun 17, Bourne Robert W. (SVP & Chief Commercial Officer) acquired 2,500 shares at an average price of $22.90 for $57250.0. The insider now directly holds 34,400 shares of Western Midstream Partners LP (WES).
