The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Western Midstream Partners LP shares valued at $697,125,000 were sold by OCCIDENTAL PETROLEUM CORP /DE/ on Aug 14 ’24. At $35.75 per share, OCCIDENTAL PETROLEUM CORP /DE/ sold 19,500,000 shares. The insider’s holdings dropped to 165,681,578 shares worth approximately $6.18 billion following the completion of this transaction.
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Also, OCCIDENTAL PETROLEUM CORP /DE/ sold 19,500,000 shares, netting a total of over 697,125,000 in proceeds. Following the sale of shares at $35.75 each, the insider now holds 165,681,578 shares.
Before that, Bourne Robert W. had added 1,354 shares to its account. In a trade valued at $50,430, the SVP & Chief Commercial Officer bought Western Midstream Partners LP shares for $37.25 each. Upon closing the transaction, the insider’s holdings increased to 1,354 shares, worth approximately $4.87 million.
As published in a research note from Morgan Stanley on October 25, 2024, Western Midstream Partners LP [WES] has been rated down from an Equal-weight to an Underweight and the price target has been revised to $40 from $42. As of September 16, 2024, Morgan Stanley has decreased its “an Overweight” rating to a “an Equal-weight” for WES. Earlier on July 10, 2024, Stifel downgraded its rating. Their new recommendation was “a Hold” 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 -1.14%. Over the course of the year, Western Midstream Partners LP shares have jumped approximately 27.48%. Shares of the company reached a 52-week high of $42.80 on 07/23/24 and a 52-week low of $27.49 on 01/18/24. A 50-day SMA is recorded $38.52, while a 200-day SMA reached $36.79. Nevertheless, trading volume fell to 3.38 million shares from 1.52 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 36.59, which, if violated, would cause prices to drop to 35.88. In the upper region, resistance lies at 37.92. The next price resistance is at 38.54. RSI (Relative Strength Index) is 43.27 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.02, which suggests the price will decrease in the coming days. Percent R is at 68.00%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
