Westlake Chemical Partners (WLKP) Earning Somewhat Positive Press Coverage, Study Finds
Media coverage about Westlake Chemical Partners (NYSE:WLKP) has trended somewhat positive this week, Accern Sentiment Analysis reports. The research firm scores the sentiment of media coverage by analyzing more than 20 million blog and news sources in real-time. Accern ranks coverage of public companies on a scale of negative one to positive one, with scores closest to one being the most favorable. Westlake Chemical Partners earned a daily sentiment score of 0.04 on Accern’s scale. Accern also assigned news coverage about the basic materials company an impact score of 46.4203589526416 out of 100, indicating that recent media coverage is somewhat unlikely to have an impact on the company’s share price in the next several days.
These are some of the media stories that may have impacted Accern’s rankings:
- $0.43 EPS Expected for Westlake Chemical Partners LP (WLKP) This Quarter (americanbankingnews.com)
- TheStreet Upgrades Westlake Chemical Partners (WLKP) to “B-“ (americanbankingnews.com)
- Westlake Chemical Partners LP (WLKP) Given Consensus Rating of “Buy” by Brokerages (americanbankingnews.com)
- Critical Comparison: Ingevity (NGVT) versus Westlake Chemical Partners (WLKP) (americanbankingnews.com)
Several brokerages have commented on WLKP. TheStreet upgraded shares of Westlake Chemical Partners from a “c+” rating to a “b-” rating in a research report on Tuesday, December 12th. ValuEngine upgraded shares of Westlake Chemical Partners from a “buy” rating to a “strong-buy” rating in a research report on Friday, December 1st. Citigroup initiated coverage on shares of Westlake Chemical Partners in a research report on Tuesday, December 5th. They issued a “buy” rating and a $25.50 price objective on the stock. Tudor Pickering lowered shares of Westlake Chemical Partners from a “buy” rating to a “hold” rating in a research report on Wednesday, December 6th. Finally, BidaskClub lowered shares of Westlake Chemical Partners from a “sell” rating to a “strong sell” rating in a research report on Tuesday, November 7th. One research analyst has rated the stock with a sell rating, one has issued a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. Westlake Chemical Partners currently has a consensus rating of “Buy” and a consensus price target of $27.75.
Westlake Chemical Partners (NYSE:WLKP) last released its quarterly earnings data on Tuesday, November 7th. The basic materials company reported $0.47 EPS for the quarter, topping the 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. research analysts forecast that Westlake Chemical Partners will post 1.46 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 29th. Investors of record on Tuesday, November 14th were given a $0.3756 dividend. The ex-dividend date was Monday, November 13th. This is a positive change from Westlake Chemical Partners’s previous quarterly dividend of $0.37. This represents a $1.50 annualized dividend and a dividend yield of 6.38%. Westlake Chemical Partners’s payout ratio is currently 95.54%.
In other news, Director James Chao bought 8,473 shares of the business’s stock in a transaction that occurred on Monday, December 4th. The stock was purchased at an average price of $22.17 per share, with a total value of $187,846.41. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Albert Chao bought 14,900 shares of the business’s stock in a transaction that occurred on Wednesday, November 29th. The stock was purchased at an average cost of $21.98 per share, with a total value of $327,502.00. Following the purchase, the chief executive officer now directly owns 45,000 shares in the company, valued at approximately $989,100. The disclosure for this purchase can be found here. Insiders purchased a total of 35,748 shares of company stock worth $787,823 over the last quarter.
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Westlake Chemical Partners Company Profile
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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