Western Midstream Partners, LP (NYSE:WES) Shares Sold by CFM Wealth Partners LLC

CFM Wealth Partners LLC cut its holdings in Western Midstream Partners, LP (NYSE:WES) by 41.9% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 20,360 shares of the pipeline company’s stock after selling 14,680 shares during the quarter. CFM Wealth Partners LLC’s holdings in Western Midstream Partners were worth $724,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in WES. Eagle Bay Advisors LLC purchased a new stake in shares of Western Midstream Partners in the first quarter valued at approximately $29,000. American National Bank increased its position in shares of Western Midstream Partners by 34.5% in the first quarter. American National Bank now owns 1,190 shares of the pipeline company’s stock valued at $42,000 after buying an additional 305 shares in the last quarter. Retirement Group LLC increased its position in shares of Western Midstream Partners by 40.2% in the first quarter. Retirement Group LLC now owns 1,591 shares of the pipeline company’s stock valued at $57,000 after buying an additional 456 shares in the last quarter. EverSource Wealth Advisors LLC purchased a new stake in shares of Western Midstream Partners in the second quarter valued at approximately $74,000. Finally, Triad Wealth Partners LLC purchased a new stake in shares of Western Midstream Partners during the second quarter worth approximately $78,000. 42.94% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, major shareholder Petroleum Corp /De/ Occidental sold 19,500,000 shares of the stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $35.75, for a total transaction of $697,125,000.00. Following the transaction, the insider now owns 165,681,578 shares of the company’s stock, valued at approximately $5,923,116,413.50. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.04% of the stock is owned by corporate insiders.

Western Midstream Partners Stock Performance

Shares of Western Midstream Partners stock opened at $38.68 on Wednesday. Western Midstream Partners, LP has a 52 week low of $26.49 and a 52 week high of $42.80. The business’s fifty day simple moving average is $38.62 and its 200-day simple moving average is $38.19. The firm has a market cap of $14.72 billion, a PE ratio of 9.97, a price-to-earnings-growth ratio of 0.75 and a beta of 2.87. The company has a quick ratio of 1.68, a current ratio of 1.68 and a debt-to-equity ratio of 2.08.

Western Midstream Partners (NYSE:WES) last announced its quarterly earnings results on Wednesday, August 7th. The pipeline company reported $0.97 EPS for the quarter, beating the consensus estimate of $0.88 by $0.09. Western Midstream Partners had a return on equity of 47.19% and a net margin of 44.01%. The business had revenue of $905.63 million for the quarter, compared to analyst estimates of $904.94 million. During the same quarter in the prior year, the company posted $0.64 EPS. The company’s quarterly revenue was up 22.7% on a year-over-year basis. Equities analysts forecast that Western Midstream Partners, LP will post 4.15 earnings per share for the current year.

Western Midstream Partners Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, August 14th. Investors of record on Thursday, August 1st were paid a dividend of $0.875 per share. This represents a $3.50 annualized dividend and a yield of 9.05%. The ex-dividend date was Thursday, August 1st. Western Midstream Partners’s payout ratio is 90.21%.

Analysts Set New Price Targets

Several analysts recently commented on WES shares. StockNews.com cut Western Midstream Partners from a “strong-buy” rating to a “buy” rating in a research report on Saturday. Stifel Nicolaus boosted their price target on Western Midstream Partners from $39.00 to $40.00 and gave the stock a “hold” rating in a research report on Friday, August 9th. Morgan Stanley cut Western Midstream Partners from an “overweight” rating to an “equal weight” rating and set a $42.00 price target for the company. in a research report on Monday, September 16th. UBS Group boosted their price objective on Western Midstream Partners from $38.00 to $39.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 18th. Finally, Royal Bank of Canada boosted their price objective on Western Midstream Partners from $36.00 to $38.00 and gave the stock a “sector perform” rating in a research note on Tuesday, August 27th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $36.75.

Western Midstream Partners Profile

Western Midstream Partners, LP, together with its subsidiaries, operates as a midstream energy company primarily in the United States. It is involved in gathering, compressing, treating, processing, and transporting natural gas; gathering, stabilizing, and transporting condensate, natural gas liquids (NGLs), and crude oil; and gathering and disposing produced water.