Barclays Believes WES Won’t Stop Here

By Jason Carr

Barclays analyst Heejung Ryoo maintained a Buy rating on Western Gas (NYSE: WES) yesterday and set a price target of $63. The company’s shares closed yesterday at $55.30, close to its 52-week high of $60.03.

According to TipRanks.com, Ryoo is a 4-star analyst with an average return of 10.5% and a 63.0% success rate. Ryoo covers the Basic Materials sector, focusing on stocks such as Dcp Midstream Partners Lp, Antero Midstream Partners, and Targa Resources Corp.

Western Gas has an analyst consensus of Moderate Buy, with a price target consensus of $63.

The company has a one year high of $60.03 and a one year low of $25.40. Currently, Western Gas has an average volume of 307.7K.

Based on the recent corporate insider activity of 17 insiders, corporate insider sentiment is negative on the stock. Last month, James Crane, a Director at WES sold 96,862 shares for a total of $5,363,249.

Western Gas Partners LP operates as a limited partnership, which owns, operates, acquires and develops midstream energy assets. It engages in the business of gathering, processing, compressing, treating and transporting natural gas, condensate, natural gas liquids and crude oil. The company was founded in August 2007 and is headquartered in The Woodlands, TX.