Investment analysts at Deutsche Bank began coverage on shares of Westlake Chemical Partners (NYSE:WLKP) in a report released on Wednesday. The firm set a “buy” rating on the basic materials company’s stock.

Other research analysts have also issued reports about the stock. TheStreet raised shares of Westlake Chemical Partners from a “c+” rating to a “b-” rating in a research note on Tuesday, December 12th. BidaskClub lowered shares of Westlake Chemical Partners from a “sell” rating to a “strong sell” rating in a research note on Tuesday, November 7th. Barclays assumed coverage on shares of Westlake Chemical Partners in a research note on Wednesday, December 20th. They issued an “equal weight” rating and a $26.00 price target on the stock. B. Riley set a $26.00 price target on shares of Westlake Chemical Partners and gave the company a “neutral” rating in a research note on Monday, December 18th. Finally, Tudor Pickering lowered shares of Westlake Chemical Partners from a “buy” rating to a “hold” rating in a research note on Wednesday, December 6th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, three have given a buy rating and one has issued a strong buy rating to the company’s stock. Westlake Chemical Partners has an average rating of “Buy” and an average price target of $26.88.

Westlake Chemical Partners (NYSE WLKP) opened at $24.85 on Wednesday. The firm has a market cap of $677.83, a PE ratio of 15.83, a P/E/G ratio of 3.81 and a beta of 1.19. Westlake Chemical Partners has a 12 month low of $20.65 and a 12 month high of $26.25. The company has a quick ratio of 4.76, a current ratio of 4.84 and a debt-to-equity ratio of 0.48.

Westlake Chemical Partners (NYSE:WLKP) last issued its quarterly earnings results on Tuesday, November 7th. The basic materials company reported $0.47 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.41 by $0.06. The firm had revenue of $296.78 million for the quarter. Westlake Chemical Partners had a net margin of 3.80% and a return on equity of 4.73%. equities analysts anticipate that Westlake Chemical Partners will post 1.46 earnings per share for the current fiscal year.

In other Westlake Chemical Partners news, Director James Chao bought 8,473 shares of the firm’s stock in a transaction on Monday, December 4th. The shares were acquired at an average cost of $22.17 per share, with a total value of $187,846.41. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Albert Chao bought 10,375 shares of the firm’s stock in a transaction on Monday, November 27th. The stock was acquired at an average cost of $22.12 per share, for a total transaction of $229,495.00. Following the completion of the purchase, the chief executive officer now directly owns 45,000 shares in the company, valued at $995,400. The disclosure for this purchase can be found here. Insiders acquired a total of 35,748 shares of company stock worth $787,823 over the last three months.

Several hedge funds and other institutional investors have recently made changes to their positions in WLKP. Bank of New York Mellon Corp increased its holdings in shares of Westlake Chemical Partners by 1.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 61,237 shares of the basic materials company’s stock worth $1,516,000 after buying an additional 661 shares during the last quarter. Citigroup Inc. increased its holdings in shares of Westlake Chemical Partners by 27,347.0% during the 2nd quarter. Citigroup Inc. now owns 27,447 shares of the basic materials company’s stock worth $679,000 after buying an additional 27,347 shares during the last quarter. Bamco Inc. NY increased its holdings in shares of Westlake Chemical Partners by 0.8% during the 2nd quarter. Bamco Inc. NY now owns 350,000 shares of the basic materials company’s stock worth $8,662,000 after buying an additional 2,668 shares during the last quarter. Duff & Phelps Investment Management Co. increased its holdings in shares of Westlake Chemical Partners by 109.2% during the 3rd quarter. Duff & Phelps Investment Management Co. now owns 651,460 shares of the basic materials company’s stock worth $14,788,000 after buying an additional 340,000 shares during the last quarter. Finally, Center Coast Capital Advisors LP acquired a new stake in shares of Westlake Chemical Partners during the 3rd quarter worth approximately $2,083,000. Institutional investors and hedge funds 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.

Analyst Recommendations for Westlake Chemical Partners (NYSE:WLKP)

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