Westlake Chemical Partners LP (NYSE:WLKP) Valuation According To Analysts

Cornelia Mascio
Ottobre 12, 2017

09/08/2014 - Bank of America Merrill Lynch began new coverage on Westlake Chemical Partners LP giving the company a "neutral" rating. The Company operates, acquires and develops ethylene production facilities and other assets. SunTrust Banks, Inc. reissued a buy rating and issued a $93.00 price objective on shares of Westlake Chemical Corporation in a research report on Thursday, September 28th. Zacks Investment Research lowered shares of Westlake Chemical Corporation from a "buy" rating to a "hold" rating in a research note on Wednesday, August 9th. FBR & Co boosted their price target on Westlake Chemical Partners from $28.00 to $30.00 and gave the company an "outperform" rating in a research note on Wednesday, April 12th. 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.

As analysts monitor volatile markets in recent weeks they have updated their price targets on shares of Westlake Chemical Partners LP (NYSE:WLKP).

It is trading at $22.45 which is marginally under $23.49, the stock's 50 day moving average and barely below the 200 day moving average of $24.35.

Westlake Chemical Corporation is a global manufacturer and marketer of basic chemicals, vinyls, polymers and building products.

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. Westlake Chemical Corporation has a 52-week low of $48.92 and a 52-week high of $85.55. In the last earnings report the EPS was $1.42 and is projected to be $1.59 for the current year with 27,059,000 shares now outstanding. The firm had revenue of $277.45 million for the quarter, compared to analyst estimates of $339.88 million. During the same period in the previous year, the firm posted $0.85 earnings per share. The business's revenue was up 82.2% on a year-over-year basis.

COPYRIGHT VIOLATION NOTICE: This news story was first posted by TrueBlueTribune and is owned by of TrueBlueTribune. The legal version of this news story can be read at https://www.truebluetribune.com/2017/10/11/westlake-chemical-corporation-wlk-price-target-raised-to-92-00-at-cowen-and-company.html. Stockholders of record on Monday, May 15th will be given a dividend of $0.3549 per share. A value between 0 to -20 would represent a strong overbought condition.

Westlake Chemical Partners LP, launched on March 14, 2014, is a limited partnership formed by Westlake Chemical Corporation (Westlake). The ex-dividend date was Wednesday, August 30th. Engineers Gate Manager LP purchased a new stake in shares of Westlake Chemical Corporation during the second quarter worth about $219,000.

In related news, VP Mark Steven Bender sold 13,794 shares of the business's stock in a transaction that occurred on Tuesday, August 15th. Following the transaction, the vice president now directly owns 44,449 shares of the company's stock, valued at $3,121,208.78. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Want to see what other hedge funds are holding WLK?

Spot Trading L.l.c augmented its ownership by buying 3,100 shares an increase of 3,100.0% in the quarter. Institutional investors and hedge funds own 31.97% of the company's stock. Finally, Private Advisor Group LLC boosted its stake in Westlake Chemical Corporation by 3.1% in the 2nd quarter. Polaris Greystone Financial Group LLC now owns 17,272 shares of the specialty chemicals company's stock valued at $1,144,000 after buying an additional 1,554 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. TIAA CREF Investment Management LLC now owns 1,570,608 shares of the specialty chemicals company's stock valued at $103,990,000 after buying an additional 202,453 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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