Western Midstream Partners LP (NYSE: WES) is -0.94% 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 $36.90 in the last trading session, with the day’s gains setting it 1.17%.
Currently trading at $38.07, the stock is -1.37% and -4.15% below its SMA20 and SMA50 respectively. However, with a daily trading volume of 1.06 million and changing 3.17% at the moment leaves the stock -3.37% off its SMA200. WES registered 9.87% gain for a year compared to 6-month gain of -1.14%. The firm has a 50-day simple moving average (SMA 50) of $39.7172 and a 200-day simple moving average (SMA200) of $39.39735.
The stock witnessed a -7.75% loss in the last 1 month and extending the period to 3 months gives it a -11.24%, and is 1.17% 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 3.03% over the week and 3.82% over the month.
Western Midstream Partners LP (WES) has around 1511 employees, a market worth around $14.52B and $3.61B in sales. Current P/E ratio is 9.47 and Fwd P/E is 10.21. Profit margin for the company is 42.63%. Distance from 52-week low is 13.30% and -12.14% from its 52-week high. The company has generated returns on investments over the last 12 months (14.91%).
with sales reaching $926.55M over the same period.The EPS is expected to shrink by -14.04% this year, but quarterly earnings will post 4.65% year-over-year. Quarterly sales are estimated to grow 4.37% in year-over-year returns.
Western Midstream Partners LP (WES) Top Institutional Holders
310.0 institutions hold shares in Western Midstream Partners LP (WES), with institutional investors hold 85.77% 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
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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).
