Moody National Bank Trust Division Sells 5,726 Shares of Western Midstream Partners, LP (NYSE:WES)

Moody National Bank Trust Division lowered its position in Western Midstream Partners, LP (NYSE:WESGet Rating) by 37.7% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,447 shares of the pipeline company’s stock after selling 5,726 shares during the period. Moody National Bank Trust Division’s holdings in Western Midstream Partners were worth $230,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the company. MCF Advisors LLC acquired a new position in shares of Western Midstream Partners during the 1st quarter worth about $33,000. Allworth Financial LP acquired a new stake in Western Midstream Partners in the 1st quarter valued at about $38,000. Farmers & Merchants Investments Inc. acquired a new stake in Western Midstream Partners in the 1st quarter valued at about $39,000. Fifth Third Bancorp lifted its stake in Western Midstream Partners by 126.5% in the 1st quarter. Fifth Third Bancorp now owns 1,606 shares of the pipeline company’s stock valued at $41,000 after purchasing an additional 897 shares during the last quarter. Finally, Blair William & Co. IL acquired a new stake in Western Midstream Partners in the 4th quarter valued at about $201,000. Institutional investors own 92.76% of the company’s stock.

Insider Buying and Selling

In related news, major shareholder Petroleum Corp /De/ Occidental sold 10,000,000 shares of the stock in a transaction that occurred on Thursday, July 21st. The shares were sold at an average price of $25.25, for a total transaction of $252,500,000.00. Following the sale, the insider now owns 190,281,578 shares in the company, valued at approximately $4,804,609,844.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.04% of the stock is currently owned by company insiders.

Western Midstream Partners Price Performance

Shares of WES opened at $27.34 on Wednesday. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 2.01. The stock has a market capitalization of $10.57 billion, a PE ratio of 10.20 and a beta of 3.02. The firm’s 50 day moving average is $27.28 and its 200-day moving average is $25.98. Western Midstream Partners, LP has a 12 month low of $18.89 and a 12 month high of $29.50.

Western Midstream Partners Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 12th. Investors of record on Monday, August 1st were given a dividend of $0.50 per share. The ex-dividend date of this dividend was Friday, July 29th. This represents a $2.00 annualized dividend and a dividend yield of 7.32%. Western Midstream Partners’s dividend payout ratio is 74.63%.

Wall Street Analyst Weigh In

Several research firms have weighed in on WES. Wolfe Research began coverage on shares of Western Midstream Partners in a report on Monday, August 1st. They issued a “peer perform” rating on the stock. Morgan Stanley increased their price target on shares of Western Midstream Partners from $31.00 to $35.00 and gave the company an “overweight” rating in a report on Wednesday, July 20th. StockNews.com cut shares of Western Midstream Partners from a “strong-buy” rating to a “buy” rating in a report on Friday, July 22nd. Finally, Barclays increased their price target on shares of Western Midstream Partners from $29.00 to $31.00 and gave the company an “overweight” rating in a report on Wednesday, July 20th. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Western Midstream Partners has an average rating of “Moderate Buy” and an average target price of $31.00.

About Western Midstream Partners

(Get Rating)

Western Midstream Partners, LP, a midstream energy company, together with its subsidiaries, acquires, owns, develops, and operates 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.

See Also

Institutional Ownership by Quarter for Western Midstream Partners (NYSE:WES)

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