Western Midstream Partners LP (NYSE: WES) is -2.71% lower on its value in year-to-date trading and has touched a low of $33.60 and a high of $43.33 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 $38.53 in the last trading session, with the day’s loss setting it -1.14%.
Currently trading at $37.39, the stock is -4.54% and -6.28% below its SMA20 and SMA50 respectively. However, with a daily trading volume of 1.15 million and changing -2.96% at the moment leaves the stock -5.21% off its SMA200. WES registered 9.20% gain for a year compared to 6-month gain of -5.20%. The firm has a 50-day simple moving average (SMA 50) of $39.8966 and a 200-day simple moving average (SMA200) of $39.4444.
The stock witnessed a -10.08% loss in the last 1 month and extending the period to 3 months gives it a -9.23%, and is 2.41% up 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 3.59% over the week and 3.63% over the month.
Western Midstream Partners LP (WES) has around 1511 employees, a market worth around $14.26B and $3.61B in sales. Current P/E ratio is 9.30 and Fwd P/E is 10.03. Profit margin for the company is 42.63%. Distance from 52-week low is 11.28% and -13.71% from its 52-week high. The company has generated returns on investments over the last 12 months (14.91%).
The EPS is expected to shrink by -14.04% this year
310.0 institutions hold shares in Western Midstream Partners LP (WES), with institutional investors hold 85.76% of the company’s shares. The shares outstanding are 380.56M, and float is at 211.51M with Short Float at 1.95%. Institutions hold 85.49% of the Float.
The top institutional shareholder in the company is ALPS ADVISORS INC with over 27.9 million shares valued at $1.11 billion. The investor’s holdings represent 7.3335 of the WES Shares outstanding. As of 2024-06-30, the second largest holder is INVESCO LTD. with 22.27 million shares valued at $884.77 million to account for 5.8601 of the shares outstanding. The other top investors are BLACKSTONE INC. which holds 14.69 million shares representing 3.8609 and valued at over $583.64 million, while TORTOISE CAPITAL ADVISORS, L.L.C. holds 2.2439 of the shares totaling 8.54 million with a market value of $339.21 million.
Western Midstream Partners LP (WES) Insider Activity
Western Midstream Partners LP disclosed in a document filed with the SEC on Aug 14 ’24 that OCCIDENTAL PETROLEUM CORP /DE/ (10% Owner) sold a total of 19,500,000 shares of the company’s common stock. The trade occurred on Aug 14 ’24 and was made at $35.75 per share for $697.12 million. Following the transaction, the insider now directly holds 165.68 million shares of the WES stock.
Still, SEC filings show that on Aug 14 ’24, OCCIDENTAL PETROLEUM CORP /DE/ (10% Owner) disposed off 19,500,000 shares at an average price of $35.75 for $697.12 million. The insider now directly holds 165,681,578 shares of Western Midstream Partners LP (WES).
