Westlake Chemical Partners (NYSE:WLKP) Shares Cross Below 200-Day Moving Average of $26.21

Westlake Chemical Partners LP (NYSE:WLKP) crossed below its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $26.21 and traded as low as $24.32. Westlake Chemical Partners shares last traded at $24.49, with a volume of 50,686 shares trading hands.

A number of analysts have recently commented on WLKP shares. Zacks Investment Research downgraded Westlake Chemical Partners from a “hold” rating to a “sell” rating in a research note on Thursday, August 5th. Bank of America upgraded Westlake Chemical Partners from an “underperform” rating to a “buy” rating in a research report on Friday, July 16th.

The company has a debt-to-equity ratio of 0.42, a current ratio of 6.92 and a quick ratio of 6.82. The business has a fifty day simple moving average of $26.26 and a 200 day simple moving average of $26.21. The firm has a market cap of $862.17 million, a price-to-earnings ratio of 11.66, a PEG ratio of 1.65 and a beta of 1.15.

Westlake Chemical Partners (NYSE:WLKP) last posted its quarterly earnings data on Monday, August 2nd. The basic materials company reported $0.71 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.54 by $0.17. Westlake Chemical Partners had a return on equity of 7.94% and a net margin of 6.91%. The firm had revenue of $322.23 million during the quarter. On average, research analysts anticipate that Westlake Chemical Partners LP will post 1.83 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 26th. Stockholders of record on Thursday, August 12th were given a $0.4714 dividend. This represents a $1.89 dividend on an annualized basis and a dividend yield of 7.70%. This is a boost from Westlake Chemical Partners’s previous quarterly dividend of $0.46. The ex-dividend date of this dividend was Wednesday, August 11th. Westlake Chemical Partners’s dividend payout ratio is 100.53%.

Several institutional investors have recently modified their holdings of WLKP. Royal Bank of Canada increased its position in Westlake Chemical Partners by 29.1% during the first quarter. Royal Bank of Canada now owns 1,692 shares of the basic materials company’s stock worth $41,000 after purchasing an additional 381 shares during the last quarter. Geneos Wealth Management Inc. increased its holdings in shares of Westlake Chemical Partners by 6.6% during the 1st quarter. Geneos Wealth Management Inc. now owns 6,500 shares of the basic materials company’s stock worth $174,000 after buying an additional 400 shares during the last quarter. Arkfeld Wealth Strategies L.L.C. raised its position in shares of Westlake Chemical Partners by 0.6% during the 2nd quarter. Arkfeld Wealth Strategies L.L.C. now owns 66,247 shares of the basic materials company’s stock valued at $1,786,000 after buying an additional 419 shares during the period. Advisor Group Holdings Inc. lifted its holdings in Westlake Chemical Partners by 1.5% in the second quarter. Advisor Group Holdings Inc. now owns 41,899 shares of the basic materials company’s stock valued at $1,128,000 after acquiring an additional 619 shares during the last quarter. Finally, PNC Financial Services Group Inc. purchased a new position in Westlake Chemical Partners in the second quarter worth approximately $27,000. Institutional investors and hedge funds own 38.49% of the company’s stock.

About Westlake Chemical Partners (NYSE:WLKP)

Westlake Chemical Partners LP engages in the operation, acquisition and development of ethylene production facilities and related assets. It also involves in the manufacture and marketing of basic chemicals, polymers and fabricated building products. The company was founded on March 14, 2014 and is headquartered in Houston, TX.

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