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Western Midstream Partners LP (WES) receives a Peer perform rating from Wolfe Research

Western Midstream Partners LP’s recently made public that its Director STEWART LISA A acquired Company’s shares for reported $87175.0 on Mar 06 ’24. In the deal valued at $34.87 per share,2,500 shares were bought. As a result of this transaction, STEWART LISA A now holds 30,730 shares worth roughly $1.11 million.

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Then, Ure Michael bought 5,000 shares, generating $168,250 in total proceeds. Upon buying the shares at $33.65, the President & CEO now owns 561,404 shares.

Before that, Brown Oscar K bought 3,500 shares. Western Midstream Partners LP shares valued at $116,736 were divested by the Director at a price of $33.35 per share. As a result of the transaction, Brown Oscar K now holds 34,791 shares, worth roughly $1.26 million.

Wolfe Research upgraded its Western Midstream Partners LP [WES] rating to a Peer perform from a an Underperform in a research note published recently. A number of analysts have revised their coverage, including Raymond James’s analysts, who decreased its forecast for the stock in mid March from “an Outperform” to “a Mkt perform”. Citigroup also remained covering WES and has decreased its forecast on February 29, 2024 with a “Neutral” recommendation from previously “Buy” rating. BofA Securities revised its rating on December 13, 2023. It rated WES as “an Underperform” which previously was an “a Buy”.

Price Performance Review of WES

On Friday, Western Midstream Partners LP [NYSE:WES] saw its stock fall -0.60% to $36.23. Over the last five days, the stock has gained 1.97%. Western Midstream Partners LP shares have risen nearly 23.82% since the year began. Nevertheless, the stocks have risen 40.81% over the past one year. While a 52-week high of $36.79 was reached on 04/03/24, a 52-week low of $25.04 was recorded on 01/18/24. SMA at 50 days reached $35.03, while 200 days put it at $29.80. A total of 2.54 million shares were traded, compared to the trading of 2.19 million shares in the previous session.

Levels Of Support And Resistance For WES Stock

The 24-hour chart illustrates a support level at 35.79, which if violated will result in even more drops to 35.36. On the upside, there is a resistance level at 36.63. A further resistance level may holdings at 37.04. The Relative Strength Index (RSI) on the 14-day chart is 59.81, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.51, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bullish at 16.79%. Stochastics %K at 81.07% indicates the stock is a selling.

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