Westlake Chemical Partners' (WLKP) "Hold (C)" Rating Reiterated at Weiss Ratings

Key Points

• Westlake Chemical Partners' stock has been reaffirmed with a **"Hold (C)" rating** by Weiss Ratings, indicating a cautious outlook on the company's performance.
• The company recently reported **earnings of $0.41 per share**, missing the consensus estimate, along with revenue of **$297.12 million** for the quarter.
• Notably, **CEO Jean-Marc Gilson purchased 4,700 shares** of the company's stock, increasing their ownership by over 104% to signal confidence in the company’s future.

Westlake Chemical Partners (NYSE:WLKP - Get Free Report)'s stock had its "hold (c)" rating reaffirmed by Weiss Ratings in a research note issued on Wednesday,Weiss Ratings reports.

A number of other analysts have also weighed in on the company. Zacks Research upgraded Westlake Chemical Partners to a "hold" rating in a research note on Thursday, August 28th. Wall Street Zen lowered Westlake Chemical Partners from a "buy" rating to a "hold" rating in a research note on Friday, September 5th. Two research analysts have rated the stock with a Hold rating, According to MarketBeat, the stock has a consensus rating of "Hold".

Westlake Chemical Partners Price Performance

Westlake Chemical Partners stock traded up $0.10 during mid-day trading on Wednesday, hitting $21.08. 21,187 shares of the company were exchanged, compared to its average volume of 35,884. The company has a quick ratio of 2.10, a current ratio of 2.15 and a debt-to-equity ratio of 0.48. The business has a fifty day moving average of $21.71 and a 200 day moving average of $22.27. Westlake Chemical Partners has a 1-year low of $20.63 and a 1-year high of $25.04. The company has a market capitalization of $742.72 million, a PE ratio of 14.14, a price-to-earnings-growth ratio of 2.66 and a beta of 0.73.

Westlake Chemical Partners (NYSE:WLKP - Get Free Report) last released its quarterly earnings data on Tuesday, August 5th. 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 return on equity of 6.38% and a net margin of 4.78%.The company had revenue of $297.12 million for the quarter, compared to analyst estimates of $301.00 million. As a group, sell-side analysts expect that Westlake Chemical Partners will post 1.55 earnings per share for the current year.

Insider Buying and Selling at Westlake Chemical Partners

In other news, CEO Jean-Marc Gilson bought 4,700 shares of the company's stock in a transaction that occurred on Friday, August 15th. The shares were acquired at an average price of $21.84 per share, with a total value of $102,648.00. Following the transaction, the chief executive officer owned 9,208 shares in the company, valued at $201,102.72. This represents a 104.26% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.10% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. Osaic Holdings Inc. increased its position in shares of Westlake Chemical Partners by 45.8% during the 2nd quarter. Osaic Holdings Inc. now owns 10,153 shares of the basic materials company's stock worth $224,000 after purchasing an additional 3,187 shares during the last quarter. Pathway Financial Advisers LLC boosted its stake in shares of Westlake Chemical Partners by 2.4% during the 2nd quarter. Pathway Financial Advisers LLC now owns 105,907 shares of the basic materials company's stock worth $2,339,000 after acquiring an additional 2,517 shares during the period. Advisory Services Network LLC boosted its stake in Westlake Chemical Partners by 19.4% in the 2nd quarter. Advisory Services Network LLC now owns 37,000 shares of the basic materials company's stock valued at $815,000 after purchasing an additional 6,000 shares during the period. Energy Income Partners LLC boosted its stake in Westlake Chemical Partners by 1.4% in the 2nd quarter. Energy Income Partners LLC now owns 1,774,544 shares of the basic materials company's stock valued at $39,200,000 after purchasing an additional 24,459 shares during the period. Finally, Jane Street Group LLC bought a new stake in Westlake Chemical Partners in the 2nd quarter valued at $387,000. Institutional investors and hedge funds own 78.28% of the company's stock.

About Westlake Chemical Partners

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.

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