Westlake Chemical Partners (WLKP) Given News Impact Rating of 0.21

The firm now has an outperform rating on the specialty chemicals company's stock. The Company operates, acquires and develops ethylene production facilities and other assets. Nomura upgraded shares of Westlake Chemical Corporation from a "neutral" rating to a "buy" rating and set a $98.00 target price on the stock in a research report on Tuesday, September 26th. Three investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. The firm's 50-day moving average price is $25.11 and its 200 day moving average price is $23.64.

Shares of Westlake Chemical Partners (NYSE:WLKP) opened at 24.60 on Friday.

Taking a peek at some Moving Averages, the 200-day is at 12.31, the 50-day is 16.05, and the 7-day is sitting at 16.77. The stock has a market cap of $10.93 billion, a PE ratio of 24.21 and a beta of 1.63. The value of the company's investment in Westlake Chemical Partners LP C went from $76,322,000 to $74,470,000 a change of $1,852,000 since the last quarter.

Westlake Chemical Corporation (NYSE:WLK) last posted its quarterly earnings data on Thursday, August 3rd. The specialty chemicals company reported $1.21 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.19 by $0.02. Westlake Chemical Corporation had a return on equity of 13.68% and a net margin of 6.57%. The firm had revenue of $277.45 million for the quarter, compared to analyst estimates of $339.88 million. Next quarter's EPS is forecasted at $0.48 and the next full year EPS is projected to be $1.61. On average, equities research analysts predict that Westlake Chemical Corporation will post $4.82 EPS for the current fiscal year. If you are reading this news story on another site, it was illegally stolen and reposted in violation of United States and worldwide copyright laws.

ILLEGAL ACTIVITY WARNING: "Somewhat Favorable Media Coverage Somewhat Unlikely to Impact Westlake Chemical Corporation (WLK) Share Price" was first published by StockNewsTimes and is the property of of StockNewsTimes. Stockholders of record on Monday, May 15th will be given a dividend of $0.3549 per share. This represents a $1.42 dividend on an annualized basis and a dividend yield of 5.77%.

Yesterday Westlake Chemical (NYSE:WLK) traded 0.22% higher at $84.72. The ex-dividend date was set for Friday the 11th of August 2017. Westlake Chemical Partners's payout ratio is 91.39%.

In related news, VP Mark Steven Bender sold 13,794 shares of the business's stock in a transaction dated Tuesday, August 15th. The shares were sold at an average price of $70.22, for a total transaction of $968,614.68. Following the completion of the transaction, the director now owns 5,000 shares of the company's stock, valued at $127,100. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 72.50% of the company's stock. This is a boost from Westlake Chemical Corporation's previous quarterly dividend of $0.19. Institutional investors and hedge funds own 31.97% of the company's stock. Polaris Greystone Financial Group LLC increased its position in Westlake Chemical Corporation by 9.9% in the 2nd quarter. Private Advisor Group LLC now owns 3,388 shares of the specialty chemicals company's stock worth $229,000 after buying an additional 103 shares in the last quarter. OppenheimerFunds Inc. acquired a new position in shares of Westlake Chemical Corporation in the 1st quarter valued at $205,000. Verity Asset Management Inc. purchased a new stake in shares of Westlake Chemical Corporation during the second quarter worth about $204,000. Advisors Asset Management Inc. now owns 2,276 shares of the specialty chemicals company's stock worth $151,000 after buying an additional 1,410 shares in the last quarter.

The Company's products include a range of chemicals, which are fundamental to various consumer and industrial markets, including flexible and rigid packaging, automotive products, coatings, water treatment, refrigerants, residential and commercial construction, as well as other durable and non-durable goods.

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