Western Midstream Partners LP’s filing revealed 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 $6.29 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 $4.96 million.
Morgan Stanley downgraded its Western Midstream Partners LP [WES] rating to an Underweight from a an Equal-weight in a research note published on October 25, 2024; the price target was decreased to $40 from $42. Morgan Stanley also remained covering WES and has decreased its forecast on September 16, 2024 with a “an Equal-weight” recommendation from previously “an Overweight” rating. Stifel revised its rating on July 10, 2024. It rated WES as “a Hold” which previously was an “a Buy”.
Price Performance Review of WES
On Monday, Western Midstream Partners LP [NYSE:WES] saw its stock fall -1.17% to $37.98. Over the last five days, the stock has lost -0.89%. Western Midstream Partners LP shares have risen nearly 29.80% since the year began. Nevertheless, the stocks have risen 38.97% 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 $38.62, while 200 days put it at $36.42.
Levels Of Support And Resistance For WES Stock
The 24-hour chart illustrates a support level at 37.68, which if violated will result in even more drops to 37.37. On the upside, there is a resistance level at 38.43. A further resistance level may holdings at 38.87. The Relative Strength Index (RSI) on the 14-day chart is 41.95, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.48, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 92.08%. Stochastics %K at 18.22% indicates the stock is a buying.
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 2024-10-15, growing by 0.16 million shares to a total of 4.05 million shares. Yahoo Finance data shows the prior-month short interest on 2024-09-13 was 3.89 million shares. There was a rise of 3.96%, which implies that there is a positive sentiment for the stock.
