Traders Purchase High Volume of Western Midstream Partners Call Options (NYSE:WES)

Western Midstream Partners LP (NYSE:WES) was the recipient of unusually large options trading activity on Monday. Stock traders acquired 1,743 call options on the company. This represents an increase of approximately 1,340% compared to the average volume of 121 call options.

WES has been the topic of a number of analyst reports. Scotiabank initiated coverage on shares of Western Midstream Partners in a research note on Tuesday, September 3rd. They set a “sector perform” rating and a $28.00 price objective on the stock. Barclays set a $26.00 price target on shares of Western Midstream Partners and gave the stock a “hold” rating in a report on Tuesday, October 15th. Zacks Investment Research raised shares of Western Midstream Partners from a “strong sell” rating to a “hold” rating in a report on Saturday, November 9th. ValuEngine upgraded shares of Western Midstream Partners from a “sell” rating to a “hold” rating in a research report on Wednesday, December 11th. Finally, Citigroup dropped their target price on Western Midstream Partners from $26.00 to $23.00 and set a “buy” rating on the stock in a research report on Tuesday, December 3rd. Twelve analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Western Midstream Partners currently has an average rating of “Hold” and an average price target of $30.75.

Western Midstream Partners stock traded down $0.14 during midday trading on Wednesday, reaching $20.55. The company had a trading volume of 696,152 shares, compared to its average volume of 1,769,956. The firm’s fifty day simple moving average is $18.94 and its 200-day simple moving average is $24.44. Western Midstream Partners has a 12-month low of $17.46 and a 12-month high of $35.75. The company has a market capitalization of $9.31 billion, a P/E ratio of 8.19, a P/E/G ratio of 2.55 and a beta of 1.35. The company has a debt-to-equity ratio of 2.32, a current ratio of 0.66 and a quick ratio of 0.66.

Western Midstream Partners (NYSE:WES) last issued its quarterly earnings results on Monday, November 4th. The pipeline company reported $0.27 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.47 by ($0.20). The firm had revenue of $666.03 million during the quarter, compared to analyst estimates of $688.91 million. Western Midstream Partners had a return on equity of 15.32% and a net margin of 18.35%. The business’s revenue was up 13.3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.39 earnings per share. On average, analysts expect that Western Midstream Partners will post 1.35 EPS for the current fiscal year.

In other Western Midstream Partners news, Director James R. Crane bought 71,041 shares of Western Midstream Partners stock in a transaction that occurred on Wednesday, November 20th. The stock was purchased at an average price of $18.19 per share, with a total value of $1,292,235.79. Following the completion of the acquisition, the director now directly owns 169,068 shares in the company, valued at approximately $3,075,346.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Several institutional investors have recently added to or reduced their stakes in the company. Russell Investments Group Ltd. boosted its position in Western Midstream Partners by 18.0% during the third quarter. Russell Investments Group Ltd. now owns 297,281 shares of the pipeline company’s stock worth $7,399,000 after acquiring an additional 45,378 shares during the last quarter. BNP Paribas Arbitrage SA purchased a new position in Western Midstream Partners in the 2nd quarter worth approximately $2,024,000. Bank of Montreal Can boosted its holdings in shares of Western Midstream Partners by 95.2% during the 2nd quarter. Bank of Montreal Can now owns 3,468,071 shares of the pipeline company’s stock worth $106,713,000 after purchasing an additional 1,691,783 shares during the last quarter. Fort Washington Investment Advisors Inc. OH boosted its holdings in shares of Western Midstream Partners by 0.9% during the 2nd quarter. Fort Washington Investment Advisors Inc. OH now owns 223,605 shares of the pipeline company’s stock worth $6,880,000 after purchasing an additional 1,900 shares during the last quarter. Finally, Lenox Wealth Advisors LLC purchased a new stake in shares of Western Midstream Partners in the third quarter valued at approximately $33,000. 41.44% of the stock is owned by institutional investors and hedge funds.

About Western Midstream Partners

Western Midstream Partners, LP, together with its subsidiaries, engages in gathering, processing, compressing, treating, stabilizing, and transporting natural gas, condensate, natural gas liquids, and crude oil primarily in the United States. It is also involved in the gathering and disposing of produced water; and buying and selling of natural gas.

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