Western Midstream Partners LP [WES] Insider Activity: An Update for Investors


Western Midstream Partners LP’s recently made public that its 10% Owner OCCIDENTAL PETROLEUM CORP /DE/ unloaded Company’s shares for reported $127.5 million on Sep 12. In the deal valued at $25.00 per share,5,100,000 shares were sold. As a result of this transaction, OCCIDENTAL PETROLEUM CORP /DE/ now holds 185,181,578 shares worth roughly $ 4.81 billion.

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Then, OCCIDENTAL PETROLEUM CORP /DE/ sold 5,100,000 shares, generating $127,500,000 in total proceeds. Upon selling the shares at $25.00, the 10% Owner now owns 185,181,578 shares.

Wells Fargo downgraded its Western Midstream Partners LP [WES] rating to an Equal weight from a an Overweight in a research note published on Friday, August 11, 2023; the price target was decreased to $30 from $31. PT values the company’s stock at a premium of 13.37 to its Friday closing price.

Price Performance Review of WES

On Friday, Western Midstream Partners LP [NYSE:WES] saw its stock fall -1.10% to $25.99. On the same session, the stock had its day’s lowest price of $25.85, but rose to a high of $26.30. Western Midstream Partners LP shares have fallen nearly -1.92% since the year began. Nevertheless, the stocks have fallen -8.05% over the past one year. While a 52-week high of $28.80 was reached on 01/24/23, a 52-week low of $22.94 was recorded on 03/16/23. SMA at 50 days reached $27.23, while 200 days put it at $26.73. A total of 2.48 million shares were traded, compared to the trading of 1.28 million shares in the previous session.

Levels Of Support And Resistance For WES Stock

The 24-hour chart illustrates a support level at 25.79, which if violated will result in even more drops to 25.60. On the upside, there is a resistance level at 26.24. A further resistance level may holdings at 26.50. The Relative Strength Index (RSI) on the 14-day chart is 40.19, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.26, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 83.33%. Stochastics %K at 22.59% indicates the stock is a holding.

How much short interest is there in Western Midstream Partners LP?

A steep rise in short interest was recorded in Western Midstream Partners LP stocks on Aug 30, 2023, growing by 0.5 million shares to a total of 5.41 million shares. Yahoo Finance data shows the prior-month short interest on Jul 30, 2023 was 4.91 million shares. There was a rise of 9.24%, which implies that there is a positive sentiment for the stock. In spite of short shares comprising just 2.79% of the overall stock float, the days-to-cover ratio (short ratio) rose to 5.95.

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

In filings from ALPS Advisors, Inc., it is revealed that the company now owns 29,663,986 shares, or roughly 7.71% of the outstanding WES shares. In other words, the investor’s shares have risen by 526,804 from its previous 13-F filing of 29137182.0. Additionally, Invesco Advisers, Inc. increased 1.25% of its stake after which the total value it holdings stand at $480,654,285, while Harvest Fund Advisors LLC reduced -0.48% of its stake to hold $467.9 million in the firm. Over the last quarter, Tortoise Capital Advisors LLC sold -394,432 shares of Western Midstream Partners LP, while Goldman Sachs Asset Management LP sold -223,009 shares. At present, Neuberger Berman Investment Advis is holding 8,329,332 shares valued at $222.31 million. Chickasaw Capital Management LLC owned 7,523,599 shares of the company at the time of its most recent 13F filing, worth $200.8 million.

According to FactSet, Western Midstream Partners LP’s share price will average $30.57 in the next year, based on opinions of analysts polled by the firm. This is up nearly 16.06 percent from its previous closing price of $26.28. Analysts expect Western Midstream Partners LP stock to reach the higher price of $35.00, while the lowest price estimate is $24.00. However, 14 analysts have rated WES stock as an Overweight in their predictions for 2023.


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