The price-to-earnings ratio for Western Midstream Partners LP (NYSE: WES) is 9.58x, which is above its average ratio. Moreover, the 36-month beta value for WES is 2.84. Analysts have varying opinions on the stock, with 7 analysts rating it as a “buy,” 4 as “overweight,” 10 as “hold,” and 1 as “sell.”
The public float for WES is 210.14M and currently, short sellers hold a 2.62% of that float. On November 21, 2024, WES’s average trading volume was 1.12M shares.
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WES) stock’s latest price update
The stock of Western Midstream Partners LP (NYSE: WES) has decreased by -0.95 when compared to last closing price of 37.80. Despite this, the company has experienced a 1.82% gain in its stock price over the last five trading sessions. seekingalpha.com reported 2024-11-20 that Western Midstream offers a high, tax-deferred yield and strong fundamentals, with potential for increased distributions and enhanced payouts in 2025. WES’s affiliation with Occidental Petroleum (OXY) poses risks due to potential conflicts of interest and uncertainty about OXY’s intentions to divest its WES stake. Recent developments, including OXY’s partial sale of WES units and CEO transitions, have created market uncertainty but also potential investment opportunities.
WES’s Market Performance
WES’s stock has risen by 1.82% in the past week, with a monthly drop of -2.27% and a quarterly drop of -1.91%. The volatility ratio for the week is 3.01% while the volatility levels for the last 30 days are 2.37% for Western Midstream Partners LP The simple moving average for the last 20 days is 0.01% for WES stock, with a simple moving average of 0.77% for the last 200 days.
Analysts’ Opinion of WES
Many brokerage firms have already submitted their reports for WES stocks, with Morgan Stanley repeating the rating for WES by listing it as a “Underweight.” The predicted price for WES in the upcoming period, according to Morgan Stanley is $40 based on the research report published on October 25, 2024 of the current year 2024.
BofA Securities, on the other hand, stated in their research note that they expect to see WES reach a price target of $37. The rating they have provided for WES stocks is “Underperform” according to the report published on October 17th, 2024.
Morgan Stanley gave a rating of “Equal-Weight” to WES, setting the target price at $42 in the report published on September 16th of the current year.
WES Trading at -2.41% from the 50-Day Moving Average
After a stumble in the market that brought WES to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -12.52% of loss for the given period.
Volatility was left at 2.37%, however, over the last 30 days, the volatility rate increased by 3.01%, as shares sank -2.35% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -2.25% lower at present.
During the last 5 trading sessions, WES rose by +1.82%, which changed the moving average for the period of 200-days by +34.10% in comparison to the 20-day moving average, which settled at $37.44. In addition, Western Midstream Partners LP saw 27.96% in overturn over a single year, with a tendency to cut further gains.
Insider Trading
Reports are indicating that there were more than several insider trading activities at WES starting from OCCIDENTAL PETROLEUM CORP /DE/, who sale 19,500,000 shares at the price of $35.75 back on Aug 14 ’24. After this action, OCCIDENTAL PETROLEUM CORP /DE/ now owns 165,681,578 shares of Western Midstream Partners LP, valued at $697,125,000 using the latest closing price.
OCCIDENTAL PETROLEUM CORP /DE/, the 10% Owner of Western Midstream Partners LP, sale 19,500,000 shares at $35.75 during a trade that took place back on Aug 14 ’24, which means that OCCIDENTAL PETROLEUM CORP /DE/ is holding 165,681,578 shares at $697,125,000 based on the most recent closing price.
Stock Fundamentals for WES
Current profitability levels for the company are sitting at:
- 0.44 for the present operating margin
- 0.58 for the gross margin
The net margin for Western Midstream Partners LP stands at 0.43. The total capital return value is set at 0.14. Equity return is now at value 49.26, with 12.13 for asset returns.
Based on Western Midstream Partners LP (WES), the company’s capital structure generated 0.7 points at debt to capital in total, while cash flow to debt ratio is standing at 0.26. The debt to equity ratio resting at 2.35. The interest coverage ratio of the stock is 4.17.
Currently, EBITDA for the company is 1.89 billion with net debt to EBITDA at 3.08. When we switch over and look at the enterprise to sales, we see a ratio of 5.96. The receivables turnover for the company is 5.26for trailing twelve months and the total asset turnover is 0.27. The liquidity ratio also appears to be rather interesting for investors as it stands at 1.11.
Conclusion
To wrap up, the performance of Western Midstream Partners LP (WES) has been mixed in recent times. The stock has received a bullish of “buy” and “hold” ratings from analysts. It’s important to note that the stock is currently trading at a significant distance from its 50-day moving average and its 52-week high.
