Westlake Chemical Partners (NYSE:WLKP) Share Price Passes Below 200 Day Moving Average of $22.49

Shares of Westlake Chemical Partners LP (NYSE:WLKP) crossed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $22.49 and traded as low as $22.29. Westlake Chemical Partners shares last traded at $22.41, with a volume of 10,171 shares.

Wall Street Analysts Forecast Growth

Separately, Barclays upgraded shares of Westlake Chemical Partners to a “strong-buy” rating in a research report on Monday, August 12th.

Westlake Chemical Partners Trading Up 0.7 %

The company has a current ratio of 4.68, a quick ratio of 4.59 and a debt-to-equity ratio of 0.48. The stock has a market capitalization of $789.50 million, a PE ratio of 14.55 and a beta of 1.11. The stock has a 50 day moving average price of $22.79 and a 200-day moving average price of $22.49.

Westlake Chemical Partners (NYSE:WLKP) last posted its earnings results on Tuesday, August 6th. The basic materials company reported $0.41 earnings per share for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.03). The firm had revenue of $284.17 million during the quarter, compared to the consensus estimate of $270.28 million. Westlake Chemical Partners had a net margin of 4.78% and a return on equity of 6.68%. During the same period in the prior year, the company posted $0.34 EPS. Sell-side analysts expect that Westlake Chemical Partners LP will post 1.55 earnings per share for the current year.

Westlake Chemical Partners Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, August 27th. Investors of record on Monday, August 12th were issued a $0.4714 dividend. This represents a $1.89 dividend on an annualized basis and a dividend yield of 8.41%. The ex-dividend date of this dividend was Monday, August 12th. Westlake Chemical Partners’s payout ratio is 122.73%.

Insider Buying and Selling at Westlake Chemical Partners

In related news, SVP Andrew Kenner acquired 12,000 shares of Westlake Chemical Partners stock in a transaction dated Friday, August 9th. The stock was purchased at an average cost of $22.99 per share, for a total transaction of $275,880.00. Following the purchase, the senior vice president now directly owns 182,308 shares of the company’s stock, valued at approximately $4,191,260.92. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Over the last ninety days, insiders acquired 16,119 shares of company stock valued at $369,340. Insiders own 1.10% of the company’s stock.

Institutional Trading of Westlake Chemical Partners

Hedge funds have recently bought and sold shares of the stock. Pathway Financial Advisers LLC bought a new position in shares of Westlake Chemical Partners in the first quarter worth approximately $2,169,000. International Assets Investment Management LLC lifted its stake in shares of Westlake Chemical Partners by 2,065.0% during the 4th quarter. International Assets Investment Management LLC now owns 31,652 shares of the basic materials company’s stock valued at $685,000 after buying an additional 30,190 shares in the last quarter. Rothschild Investment LLC purchased a new position in shares of Westlake Chemical Partners during the 2nd quarter valued at $181,000. Texas Capital Bank Wealth Management Services Inc boosted its holdings in Westlake Chemical Partners by 25.0% in the 4th quarter. Texas Capital Bank Wealth Management Services Inc now owns 25,000 shares of the basic materials company’s stock worth $541,000 after buying an additional 5,000 shares during the period. Finally, GSA Capital Partners LLP increased its stake in Westlake Chemical Partners by 10.7% in the 1st quarter. GSA Capital Partners LLP now owns 38,427 shares of the basic materials company’s stock worth $853,000 after buying an additional 3,713 shares in the last quarter. Institutional investors own 78.28% of the company’s stock.

Westlake Chemical Partners Company Profile

Westlake Chemical Partners LP acquires, develops, and operates ethylene production facilities and related assets in the United States. The company's ethylene production facilities primarily convert ethane into ethylene. It also sells ethylene co-products, such as propylene, crude butadiene, pyrolysis gasoline, and hydrogen directly to third parties on either a spot or contract basis.