Sunday, June 26, 2022

Investing in Western Midstream Partners LP (WES): What You Must Know

Western Midstream Partners LP’s recent filing unveils that its SVP & Chief Commercial Officer Bourne Robert W. acquired Company’s shares for reported $57250.0 on Jun 17. In the deal valued at $22.90 per share,2,500 shares were bought. As a result of this transaction, Bourne Robert W. now holds 34,400 shares worth roughly $ 0.83 million.


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Then, OCCIDENTAL PETROLEUM CORP /DE/ sold 2,500,000 shares, generating $50,225,000 in total proceeds. Upon selling the shares at $20.09, the 10% Owner now owns 200,281,578 shares.

Before that, OCCIDENTAL PETROLEUM CORP /DE/ sold 2,500,000 shares. Western Midstream Partners LP shares valued at $50,225,000 were divested by the 10% Owner at a price of $20.09 per share. As a result of the transaction, OCCIDENTAL PETROLEUM CORP /DE/ now holds 200,281,578 shares, worth roughly $4.84 billion.

PT values the company’s stock at a premium of 3.28 to its Tuesday closing price. A number of analysts have revised their coverage, including Morgan Stanley’s analysts, who increased its forecast for the stock in mid July from “an Equal-weight” to “an Overweight”. BofA Securities also remained covering WES and has increased its forecast on July 20, 2021 with a “Buy” recommendation from previously “Neutral” rating. Morgan Stanley revised its rating on May 26, 2021. It rated WES as “an Equal-weight” which previously was an “an Underweight”.

Price Performance Review of WES

On Tuesday, Western Midstream Partners LP [NYSE:WES] saw its stock jump 4.13% to $24.18. On the same session, the stock had its day’s lowest price of $23.66, but rose to a high of $24.69. Over the last five days, the stock has lost -5.99%. Western Midstream Partners LP shares have risen nearly 8.58% since the year began. Nevertheless, the stocks have risen 7.90% over the past one year. While a 52-week high of $29.50 was reached on 06/08/22, a 52-week low of $17.97 was recorded on 01/24/22. SMA at 50 days reached $25.92, while 200 days put it at $23.51. A total of 1.46 million shares were traded, compared to the trading of 2.27 million shares in the previous session.

Levels Of Support And Resistance For WES Stock

The 24-hour chart illustrates a support level at 23.66, which if violated will result in even more drops to 23.15. On the upside, there is a resistance level at 24.69. A further resistance level may holdings at 25.21. The Relative Strength Index (RSI) on the 14-day chart is 37.92, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -3.10, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 77.44%. Stochastics %K at 13.25% indicates the stock is a buying.

Western Midstream Partners LP [WES] – Who Are The Largest Shareholders?

In filings from Harvest Fund Advisors LLC, it is revealed that the company now owns 16,217,668 shares, or roughly 4.02% of the outstanding WES shares. In other words, the investor’s shares have fallen by -3,336,553 from its previous 13-F filing of 19554221.0. Additionally, Tortoise Capital Advisors LLC increased 12.39% of its stake after which the total value it holdings stand at $421,454,074, while Invesco Advisers, Inc. reduced -1.57% of its stake to hold $411.59 million in the firm. Over the last quarter, Neuberger Berman Investment Advis sold -400,483 shares of Western Midstream Partners LP, while Chickasaw Capital Management LLC sold -61,824 shares. At present, Goldman Sachs Asset Management LP is holding 7,103,984 shares valued at $196.43 million. JPMorgan Securities LLC owned 5,592,191 shares of the company at the time of its most recent 13F filing, worth $154.62 million.

According to FactSet, Western Midstream Partners LP’s share price will average $30.92 in the next year, based on opinions of analysts polled by the firm. This is up nearly 33.51 percent from its previous closing price of $23.22. Analysts expect Western Midstream Partners LP stock to reach the higher price of $35.00, while the lowest price estimate is $28.00. However, 13 analysts have rated WES stock as a Buy in their predictions for 2022.

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