As of Friday close, Western Midstream Partners LP’s (NYSE:WES) stock was up $0.09, moving up 0.34 percent to $26.72. The average number of shares traded per day over the past five days has been 3,488,260 shares. 4 times new highs have been achieved over the past 5 days, with a $0.73 gain in that time frame. In the last twenty days, the average volume was 1,872,085, while in the previous 50 days, it was 1,300,162.
Since last month, WES stock retreated -1.69%. Shares of the company fell to $25.69 on 09/07/23, the lowest level in the past month. A 52-week high of $28.80 was reached on 01/24/23 after having rallying from a 52-week low of $22.94. Since the beginning of this year, WES’s stock price has risen by 0.84% or -$0.13, and marked a new high 7 times. However, the stock has declined by -7.22% since its 52-week high.
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WES stock investors should be aware that Western Midstream Partners LP (WES) stock had its last reported insider trading activity 11 days ago on Sep 12. OCCIDENTAL PETROLEUM CORP /DE/, the 10% Owner of the company, disposed of 5,100,000 shares for $25.00 on Sep 12. It resulted in a $127,500,000 divestment by the insider. OCCIDENTAL PETROLEUM CORP /DE/ sold 5,100,000 shares at an average price of $25.00 on Sep 12. The insider now owns 185,181,578 shares following the transaction.
Valuation Metrics
Right now, Western Midstream Partners LP (WES) has a P/E ratio of about 9.99. The stock’s beta is 2.65. Besides these, the trailing price-to-sales (P/S) ratio of 3.36, the price-to-book (PB) ratio of 3.56, and the price-to-cash flow ratio of 9.27 may also be considered.
The latest dividend of $0.5625 per share was paid out, which is -34.29% less than last year’s $0.8560. On Friday July 21 2023, a $0.2935 dividend decrease was announced.
Financial Health
In the three months ended June 29, Western Midstream Partners LP’s quick ratio stood at 1.30, while its current ratio was 1.30, showing that the company is able to pay off its debt. According to company report, the long-term debt-to-equity ratio for the quarter ending June 29 was 2.36, and the total debt-to-equity ratio was 2.36. On the profitability front, the trailing twelve-month gross margin is 90.40% percent. In the year ended June 29, EBITDA margin amounted to 58.54%, whereas operating margins totaled 45.90%. Based on annual data, WES earned $1.59 billion in gross profit and brought in $3.25 billion in revenue.
A company’s management is another factor that investors consider when determining the profitability of an investment. In the past year, return on investment (ROI) was 16.20%. Return on equity (ROE) for the past 12 months was 35.40%.
In Western Midstream Partners LP’s quarter-end financial report for June 29, it reported total debt of $6.82 billion. According to the earnings report, the company had a higher net income in the recent quarter than it did in the previous quarter. WES’s revenue fell -18.71% to $733.98 million during the quarter, while net income inched up to $738.27 million. While analysts expected Western Midstream Partners LP to report $0.66 quarterly earnings, the actual figure was $0.64 per share, beating the consensus estimate by -3.00%. During the quarter, the company generated $482.57 million in EBITDA. The liabilities of Western Midstream Partners LP were 8.2 billion at the end of its most recent quarter ended June 29, and its total debt was $6.83 billion. The value of shareholders’ equity is $384.62 million.
Technical Picture
This quick technical analysis looks at Western Midstream Partners LP’s (WES) price momentum. With a historical volatility rate of 14.40%, the RSI 9-day stood at 55.02% on 22 September.
With respect to its five-day moving average, the current Western Midstream Partners LP price is up by +2.81% percent or $0.73. At present, WES shares trade +0.26% above its 20-day simple moving average and +3.05% percent above its 100-day simple moving average. However, the stock is currently trading approximately -3.33% below its SMA50 and -2.94% below its SMA200.
Stochastic coefficient K was 57.24% and Stochastic coefficient D was 53.34%, while ATR was 0.63. Given the Stochastic reading of 54.50% for the 14-day period, the RSI (14) reading has been calculated as 51.10%. As of today, the MACD Oscillator reading stands at 0.35, while the 14-day reading stands at 0.44.
Analyst Ratings
Western Midstream Partners LP downgraded its rating on Western Midstream Partners LP (NYSE: WES) to an Equal weight in a note to investors on August 11, 2023. The analysts firm previously had an Overweight rating on the stock.Western Midstream Partners LP (WES) has been rated Overweight by analysts. According to 1 brokerage firm, WES is a sell, and 5 firms recommend it is a Hold. There are 0 analysts who say the stock is underweight. A total of 2 analysts rate Western Midstream Partners LP stock as buy, with 6 recommending it as overweight.
With a median target price of $30.50, the current consensus forecast for the stock is $24.00 – $35.00. Based on these forecasts, analysts predict Western Midstream Partners LP (WES) will achieve an average price target of $30.50.
