Western Midstream Partners LP [WES] 10% Owner makes an insider sale of 10,000,000 shares worth 252,500,000.

Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Western Midstream Partners LP shares valued at $252,500,000 were sold by OCCIDENTAL PETROLEUM CORP /DE/ on Jul 21. At $25.25 per share, OCCIDENTAL PETROLEUM CORP /DE/ sold 10,000,000 shares. The insider’s holdings dropped to 190,281,578 shares worth approximately $4.89 billion following the completion of this transaction.

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Also, OCCIDENTAL PETROLEUM CORP /DE/ sold 10,000,000 shares, netting a total of over 252,500,000 in proceeds. Following the sale of shares at $25.25 each, the insider now holds 190,281,578 shares.

Before that, Bourne Robert W. had added 2,500 shares to its account. In a trade valued at $57,250, the SVP & Chief Commercial Officer bought Western Midstream Partners LP shares for $22.90 each. Upon closing the transaction, the insider’s holdings increased to 2,500 shares, worth approximately $0.88 million.

As published in their initiating research note from Wolfe Research on August 01, 2022, Western Midstream Partners LP [WES] has been a Peer perform. As of July 20, 2021, Morgan Stanley has increased its “an Equal-weight” rating to a “an Overweight” for WES. Earlier on July 20, 2021, BofA Securities upgraded its rating. Their new recommendation was “a Buy” for WES stock which previously was a “a Neutral”.

Analyzing WES’s Price Performance

On Thursday, Western Midstream Partners LP [NYSE: WES] plunged -5.79% to $25.70. The stock’s lowest price that day was $25.37, but it reached a high of $26.96 in the same session. During the last five days, there has been a drop of approximately -6.65%. Over the course of the year, Western Midstream Partners LP shares have jumped approximately 15.40%. Shares of the company reached a 52-week high of $29.50 on 06/08/22 and a 52-week low of $21.69 on 01/24/22. A 50-day SMA is recorded $25.96, while a 200-day SMA reached $24.19. Nevertheless, trading volume fell to 1.24 million shares from 0.75 million shares the previous day.

Support And Resistance Levels for Western Midstream Partners LP (WES)

According to the 24-hour chart, there is a support level at 25.06, which, if violated, would cause prices to drop to 24.42. In the upper region, resistance lies at 26.65. The next price resistance is at 27.60. RSI (Relative Strength Index) is 47.06 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.06, which suggests the price will decrease in the coming days. Percent R is at 85.84%, indicating bearish price movement. Stochastics %K at holding indicates that the stock is to be held.

Is Western Midstream Partners LP subject to short interest?

Stocks of Western Midstream Partners LP saw a sharp rise in short interest on Jul 14, 2022 jumping by 0.93 million shares to 8.17 million. Data from Yahoo Finance shows that the short interest on Jun 14, 2022 was 7.24 million shares. A jump of 11.38% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 5.19 of the overall float, the days-to-cover ratio (short ratio) jumped to 5.19.

Which companies own the most shares of Western Midstream Partners LP (WES)?

According to Harvest Fund Advisors LLC filings, the company currently owns 16,217,668 shares, which is about 4.02% of the total WES shares outstanding. The investor’s shares have plunged by -3,336,553 from its previous 13-F filing of 19554221.0 shares. With the completion of the buy transaction, Tortoise Capital Advisors LLC’s stake is now worth $370,544,251. Invesco Advisers, Inc. reduced a -1.57% interest valued at $361.88 million while Neuberger Berman Investment Advis sold a -400,483 stake. A total of -187,000 shares of Western Midstream Partners LP were sold by Chickasaw Capital Management LLC during the quarter, and 362,551 were bought by Goldman Sachs Asset Management LP. In its current portfolio, JPMorgan Securities LLC holds 5,592,191 shares valued at $135.95 million.

In terms of Western Midstream Partners LP share price expectations, FactSet research, analysts set an average price target of $31.75 in the next 12 months, up nearly 15.47% from the previous closing price of $27.28. Analysts anticipate Western Midstream Partners LP stock to reach $35.00 by 2022, with the lowest price target being $28.00. In spite of this, 13 analysts ranked Western Midstream Partners LP stock as an Overweight at the end of 2022. On May 26, 2021, Morgan Stanley assigned a price target of “an Equal-weight” to the stock and upgraded coverage with a $22.


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