Westlake Chemical Partners (NYSE:WLKP) Stock Price Crosses Below 200 Day Moving Average - Time to Sell?

Westlake Chemical Partners LP (NYSE:WLKP - Get Free Report) shares crossed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $23.40 and traded as low as $22.20. Westlake Chemical Partners shares last traded at $22.29, with a volume of 21,636 shares trading hands.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen lowered shares of Westlake Chemical Partners from a "strong-buy" rating to a "buy" rating in a report on Monday, May 5th.

Westlake Chemical Partners Price Performance

The firm has a market cap of $780.37 million, a price-to-earnings ratio of 12.65 and a beta of 0.84. The company has a quick ratio of 4.46, a current ratio of 4.53 and a debt-to-equity ratio of 0.48. The company's 50-day moving average price is $22.91 and its 200-day moving average price is $23.40.

Westlake Chemical Partners (NYSE:WLKP - Get Free Report) last released its earnings results on Friday, May 2nd. The basic materials company reported $0.14 earnings per share for the quarter, missing analysts' consensus estimates of $0.38 by ($0.24). Westlake Chemical Partners had a return on equity of 7.31% and a net margin of 5.40%. The firm had revenue of $237.63 million for the quarter, compared to analysts' expectations of $296.00 million. On average, equities research analysts forecast that Westlake Chemical Partners LP will post 1.55 EPS for the current year.

Westlake Chemical Partners Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 29th. Shareholders of record on Tuesday, May 13th will be issued a dividend of $0.4714 per share. The ex-dividend date is Tuesday, May 13th. This represents a $1.89 dividend on an annualized basis and a yield of 8.51%. Westlake Chemical Partners's payout ratio is currently 126.17%.

Institutional Trading of Westlake Chemical Partners

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Geneos Wealth Management Inc. grew its position in shares of Westlake Chemical Partners by 32.2% during the fourth quarter. Geneos Wealth Management Inc. now owns 3,337 shares of the basic materials company's stock worth $77,000 after acquiring an additional 812 shares during the last quarter. GeoWealth Management LLC purchased a new position in Westlake Chemical Partners in the 4th quarter valued at $175,000. Allspring Global Investments Holdings LLC acquired a new stake in Westlake Chemical Partners in the fourth quarter valued at $211,000. U.S. Capital Wealth Advisors LLC acquired a new stake in Westlake Chemical Partners in the first quarter valued at $231,000. Finally, Apollon Wealth Management LLC raised its stake in shares of Westlake Chemical Partners by 3.4% during the 4th quarter. Apollon Wealth Management LLC now owns 15,421 shares of the basic materials company's stock worth $357,000 after buying an additional 512 shares during the last quarter. Institutional investors and hedge funds 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.