DRW Securities LLC Has $314,000 Position in Western Midstream Partners, LP (NYSE:WES)

DRW Securities LLC lowered its stake in shares of Western Midstream Partners, LP (NYSE:WES - Free Report) by 70.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 7,915 shares of the pipeline company's stock after selling 19,285 shares during the quarter. DRW Securities LLC's holdings in Western Midstream Partners were worth $314,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of WES. American National Bank raised its stake 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 purchasing an additional 305 shares in the last quarter. Albert D Mason Inc. raised its stake in shares of Western Midstream Partners by 0.7% in the 2nd quarter. Albert D Mason Inc. now owns 48,760 shares of the pipeline company's stock valued at $1,937,000 after buying an additional 333 shares in the last quarter. Belfer Management LLC raised its stake in shares of Western Midstream Partners by 4.4% in the 1st quarter. Belfer Management LLC now owns 9,957 shares of the pipeline company's stock valued at $354,000 after buying an additional 418 shares in the last quarter. Retirement Group LLC lifted its holdings in shares of Western Midstream Partners by 40.2% during the 1st quarter. Retirement Group LLC now owns 1,591 shares of the pipeline company's stock worth $57,000 after acquiring an additional 456 shares during the period. Finally, B. Riley Wealth Advisors Inc. boosted its position in shares of Western Midstream Partners by 1.7% during the 1st quarter. B. Riley Wealth Advisors Inc. now owns 34,109 shares of the pipeline company's stock valued at $1,213,000 after acquiring an additional 554 shares in the last quarter. 42.94% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, major shareholder Petroleum Corp /De/ Occidental sold 19,500,000 shares of the firm's stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $35.75, for a total value 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. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.04% of the company's stock.

Western Midstream Partners Price Performance

Shares of NYSE WES traded down $0.17 during trading on Tuesday, reaching $39.02. The company had a trading volume of 578,613 shares, compared to its average volume of 1,255,346. Western Midstream Partners, LP has a 52 week low of $26.14 and a 52 week high of $42.80. The business's 50 day moving average price is $39.16 and its 200-day moving average price is $37.72. The stock has a market cap of $14.85 billion, a PE ratio of 10.99, a PEG ratio of 0.75 and a beta of 2.87. The company has a debt-to-equity ratio of 2.08, a quick ratio of 1.68 and a current ratio of 1.68.

Western Midstream Partners (NYSE:WES - Get Free Report) last posted its quarterly earnings data on Wednesday, August 7th. The pipeline company reported $0.97 earnings per share for the quarter, topping the consensus estimate of $0.88 by $0.09. The firm had revenue of $905.63 million during the quarter, compared to analysts' expectations of $904.94 million. Western Midstream Partners had a net margin of 44.01% and a return on equity of 47.19%. Western Midstream Partners's revenue was up 22.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.64 EPS. Analysts expect that Western Midstream Partners, LP will post 4.16 earnings per share for the current year.

Western Midstream Partners Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, August 14th. Investors of record on Thursday, August 1st were given a $0.875 dividend. The ex-dividend date of this dividend was Thursday, August 1st. This represents a $3.50 dividend on an annualized basis and a yield of 8.97%. Western Midstream Partners's payout ratio is 98.59%.

Wall Street Analyst Weigh In

WES has been the subject of a number of analyst reports. Royal Bank of Canada raised their price target on shares of 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. Morgan Stanley lowered Western Midstream Partners from an "overweight" rating to an "equal weight" rating and set a $42.00 price target on the stock. in a research note on Monday, September 16th. UBS Group increased 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. StockNews.com downgraded shares of Western Midstream Partners from a "strong-buy" rating to a "buy" rating in a research note on Tuesday, September 17th. Finally, Stifel Nicolaus upped their target price on shares of Western Midstream Partners from $39.00 to $40.00 and gave the stock a "hold" rating in a report on Friday, August 9th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, Western Midstream Partners has an average rating of "Hold" and an average price target of $36.75.

Western Midstream Partners Company 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.