Westlake Chemical Partners (NYSE:WLKP) Share Price Crosses Below 200 Day Moving Average – Should You Sell?

Westlake Chemical Partners LP (NYSE:WLKP) shares crossed below its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $22.49 and traded as low as $22.44. Westlake Chemical Partners shares last traded at $22.50, with a volume of 20,622 shares trading hands.

Analyst Upgrades and Downgrades

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

Westlake Chemical Partners Stock Up 0.1 %

The stock has a market cap of $792.63 million, a price-to-earnings ratio of 14.61 and a beta of 1.10. The company has a debt-to-equity ratio of 0.48, a quick ratio of 4.59 and a current ratio of 4.68. The firm’s 50-day simple moving average is $22.46 and its two-hundred day simple moving average is $22.49.

Westlake Chemical Partners (NYSE:WLKP) last issued its quarterly 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). Westlake Chemical Partners had a net margin of 4.78% and a return on equity of 6.68%. The company had revenue of $284.17 million during the quarter, compared to analyst estimates of $270.28 million. During the same period in the prior year, the business earned $0.34 EPS. On average, sell-side analysts expect that Westlake Chemical Partners LP will post 1.55 EPS for the current fiscal year.

Westlake Chemical Partners Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, August 27th. Stockholders of record on Monday, August 12th were given a dividend of $0.4714 per share. The ex-dividend date was Monday, August 12th. This represents a $1.89 dividend on an annualized basis and a dividend yield of 8.38%. Westlake Chemical Partners’s payout ratio is currently 122.08%.

Insider Activity

In other Westlake Chemical Partners news, SVP Andrew Kenner bought 12,000 shares of Westlake Chemical Partners stock in a transaction dated Friday, August 9th. The shares were bought at an average price of $22.99 per share, with a total value of $275,880.00. Following the purchase, the senior vice president now owns 182,308 shares of the company’s stock, valued at $4,191,260.92. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Insiders have bought 16,119 shares of company stock valued at $369,340 over the last 90 days. 1.10% of the stock is owned by company insiders.

Institutional Investors Weigh In On Westlake Chemical Partners

Several large investors have recently bought and sold shares of the company. Pathway Financial Advisers LLC bought a new position in shares of Westlake Chemical Partners during the first quarter worth $2,169,000. GSA Capital Partners LLP raised its stake in Westlake Chemical Partners by 10.7% during 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 during the period. Rothschild Investment LLC bought a new position in Westlake Chemical Partners during the second quarter worth about $181,000. Future Financial Wealth Managment LLC acquired a new position in Westlake Chemical Partners in the first quarter valued at about $78,000. Finally, International Assets Investment Management LLC bought a new stake in shares of Westlake Chemical Partners in the second quarter worth about $33,000. 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.