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 $50,430 were purchased by Bourne Robert W. on May 15 ’24. At $37.25 per share, Bourne Robert W. acquired 1,354 shares. The insider’s holdings grew to 130,625 shares worth approximately $4.93 million following the completion of this transaction.
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Also, STEWART LISA A purchased 2,500 shares, netting a total of over 87,175 in proceeds. Following the buying of shares at $34.87 each, the insider now holds 30,730 shares.
Before that, Ure Michael had added 5,000 shares to its account. In a trade valued at $168,250, the President & CEO bought Western Midstream Partners LP shares for $33.65 each. Upon closing the transaction, the insider’s holdings increased to 5,000 shares, worth approximately $21.2 million.
As published in a research note from Wolfe Research on April 18, 2024, Western Midstream Partners LP [WES] has been rated up from an Underperform to a Peer perform. Analysts at Raymond James downgraded the stock from ‘”an Outperform”‘ to ‘”a Mkt perform”‘ outlook in a report released in mid March. As of February 29, 2024, Citigroup has decreased its “Buy” rating to a “Neutral” for WES. Earlier on December 13, 2023, BofA Securities downgraded its rating. Their new recommendation was “an Underperform” for WES stock which previously was a “a Buy”.
Analyzing WES Stock Performance
During the last five days, there has been a drop of approximately -0.53%. Over the course of the year, Western Midstream Partners LP shares have jumped approximately 29.08%. Shares of the company reached a 52-week high of $38.79 on 05/22/24 and a 52-week low of $27.49 on 01/18/24. A 50-day SMA is recorded $35.63, while a 200-day SMA reached $30.19. Nevertheless, trading volume fell to 1.33 million shares from 1.03 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 37.30, which, if violated, would cause prices to drop to 36.82. In the upper region, resistance lies at 38.52. The next price resistance is at 39.26. RSI (Relative Strength Index) is 61.52 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 1.27, which suggests the price will increase in the coming days. Percent R is at 26.98%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.
