Westlake Chemical Partners (NYSE:WLKP) was downgraded by ValuEngine from a “strong-buy” rating to a “buy” rating in a research note issued to investors on Friday.

Other analysts have also issued research reports about the stock. TheStreet raised shares of Westlake Chemical Partners from a “c+” rating to a “b-” rating in a research report on Tuesday, December 12th. Citigroup started coverage on shares of Westlake Chemical Partners in a research report on Tuesday, December 5th. They set a “buy” rating and a $25.50 price target on the stock. Deutsche Bank started coverage on shares of Westlake Chemical Partners in a research report on Wednesday. They set a “buy” rating on the stock. Barclays started coverage on shares of Westlake Chemical Partners in a research report on Wednesday, December 20th. They set an “equal weight” rating and a $26.00 price target on the stock. Finally, Tudor Pickering lowered shares of Westlake Chemical Partners from a “buy” rating to a “hold” rating in a research report on Wednesday, December 6th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $26.88.

Westlake Chemical Partners (NYSE WLKP) traded down $0.05 on Friday, reaching $24.80. 31,487 shares of the company’s stock were exchanged, compared to its average volume of 82,050. The company has a debt-to-equity ratio of 0.48, a current ratio of 4.84 and a quick ratio of 4.76. Westlake Chemical Partners has a twelve month low of $20.65 and a twelve month high of $26.25. The stock has a market cap of $677.83, a price-to-earnings ratio of 15.80, a price-to-earnings-growth ratio of 3.81 and a beta of 1.19.

Westlake Chemical Partners (NYSE:WLKP) last released its earnings results on Tuesday, November 7th. The basic materials company reported $0.47 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.41 by $0.06. Westlake Chemical Partners had a net margin of 3.80% and a return on equity of 4.73%. The business had revenue of $296.78 million for the quarter. sell-side analysts forecast that Westlake Chemical Partners will post 1.46 EPS for the current year.

In other news, Director James Chao purchased 8,473 shares of Westlake Chemical Partners stock in a transaction dated Monday, December 4th. The shares were purchased at an average price of $22.17 per share, with a total value of $187,846.41. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Albert Chao purchased 2,000 shares of Westlake Chemical Partners stock in a transaction dated Wednesday, November 22nd. The shares were purchased at an average cost of $21.49 per share, for a total transaction of $42,980.00. Following the transaction, the chief executive officer now owns 47,000 shares in the company, valued at approximately $1,010,030. The disclosure for this purchase can be found here. In the last ninety days, insiders have bought 35,748 shares of company stock worth $787,823.

Institutional investors have recently bought and sold shares of the stock. Citigroup Inc. increased its holdings in Westlake Chemical Partners by 27,347.0% in the 2nd quarter. Citigroup Inc. now owns 27,447 shares of the basic materials company’s stock valued at $679,000 after purchasing an additional 27,347 shares during the last quarter. Citadel Advisors LLC acquired a new stake in Westlake Chemical Partners in the 3rd quarter valued at approximately $923,000. Franklin Square Holdings L.P. acquired a new stake in Westlake Chemical Partners in the 3rd quarter valued at approximately $931,000. Bank of New York Mellon Corp increased its holdings in Westlake Chemical Partners by 1.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 61,237 shares of the basic materials company’s stock valued at $1,516,000 after purchasing an additional 661 shares during the last quarter. Finally, Center Coast Capital Advisors LP acquired a new stake in Westlake Chemical Partners in the 3rd quarter valued at approximately $2,083,000. Hedge funds and other institutional investors own 55.16% of the company’s stock.

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About Westlake Chemical Partners

Westlake Chemical Partners LP is a limited partnership formed by Westlake Chemical Corporation (Westlake). The Company operates, acquires and develops ethylene production facilities and other assets. Its business and operations are conducted through Westlake Chemical OpCo LP (OpCo). OpCo sells ethylene to Westlake and others, as well as sells co-products of ethylene production, including propylene, crude butadiene, pyrolysis gasoline and hydrogen.

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Analyst Recommendations for Westlake Chemical Partners (NYSE:WLKP)

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