Westlake Chemical Partners (NYSE:WLKP) Stock Crosses Below 200 Day Moving Average of $22.49

Shares of Westlake Chemical Partners LP (NYSE:WLKP - Get Free Report) crossed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $22.49 and traded as low as $22.17. Westlake Chemical Partners shares last traded at $22.37, with a volume of 18,425 shares traded.

Analyst Upgrades and Downgrades

Separately, Barclays raised Westlake Chemical Partners to a "strong-buy" rating in a research report on Monday, August 12th.

Westlake Chemical Partners Stock Performance

The firm's fifty day moving average price is $22.66 and its 200-day moving average price is $22.49. The company has a market cap of $788.05 million, a P/E ratio of 14.53 and a beta of 1.11. The company has a current ratio of 4.68, a quick ratio of 4.59 and a debt-to-equity ratio of 0.48.

Westlake Chemical Partners (NYSE:WLKP - Get Free Report) last issued its quarterly earnings results on Tuesday, August 6th. The basic materials company reported $0.41 earnings per share (EPS) for the quarter, missing the consensus estimate 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 firm had revenue of $284.17 million for the quarter, compared to the consensus estimate of $270.28 million. During the same quarter in the prior year, the firm earned $0.34 earnings per share. As a group, research analysts forecast 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. Investors of record on Monday, August 12th were paid a $0.4714 dividend. The ex-dividend date was Monday, August 12th. This represents a $1.89 dividend on an annualized basis and a dividend yield of 8.43%. Westlake Chemical Partners's payout ratio is 122.08%.

Insiders Place Their Bets

In other Westlake Chemical Partners news, SVP Andrew Kenner bought 2,692 shares of the firm's stock in a transaction dated Monday, August 12th. The shares were acquired at an average cost of $22.63 per share, for a total transaction of $60,919.96. Following the transaction, the senior vice president now owns 185,000 shares in the company, valued at $4,186,550. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have acquired 16,119 shares of company stock worth $369,340 over the last 90 days. Corporate insiders own 1.10% of the company's stock.

Hedge Funds Weigh In On Westlake Chemical Partners

Several hedge funds and other institutional investors have recently modified their holdings of WLKP. International Assets Investment Management LLC acquired a new stake in shares of Westlake Chemical Partners during the 2nd quarter worth about $33,000. Future Financial Wealth Managment LLC acquired a new stake in shares of Westlake Chemical Partners during the first quarter worth approximately $78,000. Rothschild Investment LLC bought a new position in shares of Westlake Chemical Partners in the second quarter valued at approximately $181,000. GSA Capital Partners LLP boosted its holdings in shares of 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 acquiring an additional 3,713 shares in the last quarter. Finally, Pathway Financial Advisers LLC bought a new stake in Westlake Chemical Partners during the 1st quarter worth approximately $2,169,000. 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.