Western Midstream Partners LP’s recent filing unveils that its 10% Owner OCCIDENTAL PETROLEUM CORP /DE/ unloaded Company’s shares for reported $697.12 million on Aug 14 ’24. In the deal valued at $35.75 per share,19,500,000 shares were sold. As a result of this transaction, OCCIDENTAL PETROLEUM CORP /DE/ now holds 165,681,578 shares worth roughly $-6.53 billion.
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Then, OCCIDENTAL PETROLEUM CORP /DE/ sold 19,500,000 shares, generating $697,125,000 in total proceeds. Upon selling the shares at $35.75, the 10% Owner now owns 165,681,578 shares.
Before that, Bourne Robert W. bought 1,354 shares. Western Midstream Partners LP shares valued at $50,430 were divested by the SVP & Chief Commercial Officer at a price of $37.25 per share. As a result of the transaction, Bourne Robert W. now holds 130,625 shares, worth roughly $5.15 million.
Morgan Stanley downgraded its Western Midstream Partners LP [WES] rating to an Equal-weight from a an Overweight in a research note published recently. A number of analysts have revised their coverage, including Stifel’s analysts, who decreased its forecast for the stock in early July from “a Buy” to “a Hold”. Wolfe Research also remained covering WES and has increased its forecast on April 18, 2024 with a “Peer perform” recommendation from previously “an Underperform” rating. Raymond James revised its rating on March 19, 2024. It rated WES as “a Mkt perform” which previously was an “an Outperform”.
Price Performance Review of WES
On Monday, Western Midstream Partners LP [NYSE:WES] saw its stock fall -0.88% to $39.44. Over the last five days, the stock has lost -1.03%. Western Midstream Partners LP shares have risen nearly 34.79% since the year began. Nevertheless, the stocks have risen 45.05% over the past one year. While a 52-week high of $42.80 was reached on 07/23/24, a 52-week low of $26.49 was recorded on 01/18/24. SMA at 50 days reached $38.60, while 200 days put it at $35.92.
Levels Of Support And Resistance For WES Stock
The 24-hour chart illustrates a support level at 39.25, which if violated will result in even more drops to 39.07. On the upside, there is a resistance level at 39.73. A further resistance level may holdings at 40.03. The Relative Strength Index (RSI) on the 14-day chart is 54.51, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.60, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bullish at 22.10%. Stochastics %K at 83.39% indicates the stock is a selling.
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 2024-09-30, dropping by -0.56 million shares to a total of 3.41 million shares. Yahoo Finance data shows the prior-month short interest on 2024-08-30 was 3.97 million shares. There was a decline of -16.58%, which implies that there is a negative sentiment for the stock.
