Insider Selling: Petroleum Corp Anadarko Sells 5,750,000 Shares of Western Gas Equity Partners Stock (WGP)
Western Gas Equity Partners (NYSE:WGP) major shareholder Petroleum Corp Anadarko sold 5,750,000 shares of Western Gas Equity Partners stock in a transaction that occurred on Monday, July 7th. The stock was sold at an average price of $58.31, for a total value of $335,282,500.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Large shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.
A number of research firms have recently commented on WGP. Analysts at Zacks upgraded shares of Western Gas Equity Partners from a “neutral” rating to an “outperform” rating in a research note on Wednesday, July 2nd. They now have a $64.10 price target on the stock. Separately, analysts at RBC Capital raised their price target on shares of Western Gas Equity Partners from $50.00 to $57.00 in a research note on Tuesday, May 13th. They now have an “outperform” rating on the stock. Finally, analysts at Oppenheimer raised their price target on shares of Western Gas Equity Partners from $51.00 to $59.00 in a research note on Thursday, May 8th. They now have an “outperform” rating on the stock. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $58.37.
Western Gas Equity Partners (NYSE:WGP) traded down 0.51% on Monday, hitting $60.00. The stock had a trading volume of 309,920 shares. Western Gas Equity Partners has a 52 week low of $35.28 and a 52 week high of $62.85. The stock has a 50-day moving average of $55.21 and a 200-day moving average of $47.04. The company has a market cap of $13.134 billion and a P/E ratio of 73.73.
Western Gas Equity Partners (NYSE:WGP) last released its earnings data on Tuesday, May 6th. The company reported $0.54 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.21 by $0.33. The company had revenue of $275.46 million for the quarter, compared to the consensus estimate of $293.96 million. On average, analysts predict that Western Gas Equity Partners will post $1.04 earnings per share for the current fiscal year.
Western Gas Equity Partners, LP was formed to own three types of partnership interests in Western Gas Partners, LP (NYSE:WGP).
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