Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Western Midstream Partners LP shares valued at $87,175 were purchased by STEWART LISA A on Mar 06 ’24. At $34.87 per share, STEWART LISA A acquired 2,500 shares. The insider’s holdings grew to 30,730 shares worth approximately $1.06 million following the completion of this transaction.
Also, Ure Michael purchased 5,000 shares, netting a total of over 168,250 in proceeds. Following the buying of shares at $33.65 each, the insider now holds 561,404 shares.
Before that, Brown Oscar K had added 3,500 shares to its account. In a trade valued at $116,736, the Director bought Western Midstream Partners LP shares for $33.35 each. Upon closing the transaction, the insider’s holdings increased to 3,500 shares, worth approximately $1.2 million.
As published in a research note from Raymond James on March 19, 2024, Western Midstream Partners LP [WES] has been rated down from an Outperform to a Mkt perform. Analysts at Citigroup downgraded the stock from ‘”a Buy”‘ to ‘”a Neutral”‘ outlook in a report released in late February. As of December 13, 2023, BofA Securities has decreased its “Buy” rating to a “an Underperform” for WES. Earlier on August 11, 2023, Wells Fargo downgraded its rating. Their new recommendation was “an Equal weight” for WES stock which previously was a “an Overweight”.
Analyzing WES Stock Performance
During the last five days, there has been a drop of approximately -2.93%. Over the course of the year, Western Midstream Partners LP shares have jumped approximately 17.67%. Shares of the company reached a 52-week high of $36.79 on 04/03/24 and a 52-week low of $27.49 on 01/18/24. A 50-day SMA is recorded $33.32, while a 200-day SMA reached $29.11. Nevertheless, trading volume fell to 0.78 million shares from 0.96 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 34.07, which, if violated, would cause prices to drop to 33.72. In the upper region, resistance lies at 34.81. The next price resistance is at 35.19. RSI (Relative Strength Index) is 48.20 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -1.07, which suggests the price will decrease in the coming days. Percent R is at 74.92%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
