The stock of Westlake Chemical Partners LP (WLKP) has seen a 0.18% increase in the past week, with a -0.50% drop in the past month, and a -0.45% decrease in the past quarter. The volatility ratio for the week is 2.17%, and the volatility levels for the past 30 days are at 1.43% for WLKP. The simple moving average for the past 20 days is 0.16% for WLKP’s stock, with a -0.70% simple moving average for the past 200 days.
Is It Worth Investing in Westlake Chemical Partners LP (NYSE: WLKP) Right Now?
The price-to-earnings ratio for Westlake Chemical Partners LP (NYSE: WLKP) is 14.29x, which is above its average ratio. Moreover, the 36-month beta value for WLKP is 1.10. Analysts have varying opinions on the stock, with 1 analysts rating it as a “buy,” 1 as “overweight,” 0 as “hold,” and 0 as “sell.”
The public float for WLKP is 20.54M and currently, short sellers hold a 0.50% of that float. On May 09, 2024, WLKP’s average trading volume was 32.23K shares.
WLKP) stock’s latest price update
Westlake Chemical Partners LP (NYSE: WLKP)’s stock price has plunge by -0.23relation to previous closing price of 22.05. Nevertheless, the company has seen a 0.18% surge in its stock price over the last five trading sessions. Seeking Alpha reported 2024-02-20 that Westlake Chemical Partners LP (WLKP) Q4 2023 Earnings Call Transcript
Analysts’ Opinion of WLKP
Many brokerage firms have already submitted their reports for WLKP stocks, with BofA Securities repeating the rating for WLKP by listing it as a “Underperform.” The predicted price for WLKP in the upcoming period, according to BofA Securities is $27 based on the research report published on July 16, 2021 of the previous year 2021.
UBS, on the other hand, stated in their research note that they expect to see WLKP reach a price target of $25, previously predicting the price at $23. The rating they have provided for WLKP stocks is “Neutral” according to the report published on March 18th, 2021.
WLKP Trading at -0.81% from the 50-Day Moving Average
After a stumble in the market that brought WLKP to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -7.09% of loss for the given period.
Volatility was left at 1.43%, however, over the last 30 days, the volatility rate increased by 2.17%, as shares sank -0.05% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -0.95% lower at present.
During the last 5 trading sessions, WLKP rose by +0.18%, which changed the moving average for the period of 200-days by -2.44% in comparison to the 20-day moving average, which settled at $21.96. In addition, Westlake Chemical Partners LP saw 1.62% in overturn over a single year, with a tendency to cut further gains.
Insider Trading
Reports are indicating that there were more than several insider trading activities at WLKP starting from Kenner Andrew, who purchase 5,000 shares at the price of $22.23 back on Mar 28 ’24. After this action, Kenner Andrew now owns 150,839 shares of Westlake Chemical Partners LP, valued at $111,150 using the latest closing price.
Kenner Andrew, the SVP, Olefin Material & Corp Pr of Westlake Chemical Partners LP, purchase 4,230 shares at $22.16 during a trade that took place back on Mar 21 ’24, which means that Kenner Andrew is holding 145,839 shares at $93,737 based on the most recent closing price.
Stock Fundamentals for WLKP
Current profitability levels for the company are sitting at:
- 0.3 for the present operating margin
- 0.33 for the gross margin
The net margin for Westlake Chemical Partners LP stands at 0.05. The total capital return value is set at 0.28. Equity return is now at value 10.29, with 4.11 for asset returns.
Based on Westlake Chemical Partners LP (WLKP), the company’s capital structure generated 0.43 points at debt to capital in total, while cash flow to debt ratio is standing at 1.03. The debt to equity ratio resting at 0.77. The interest coverage ratio of the stock is -1318.41.
Currently, EBITDA for the company is 467.91 million with net debt to EBITDA at 0.78. When we switch over and look at the enterprise to sales, we see a ratio of 0.96. The receivables turnover for the company is 7.14for trailing twelve months and the total asset turnover is 0.9. The liquidity ratio also appears to be rather interesting for investors as it stands at 5.21.
Conclusion
To wrap up, the performance of Westlake Chemical Partners LP (WLKP) has been mixed in recent times. The stock has received a bullish of “buy” and “hold” ratings from analysts. It is worth mentioning that the stock is currently trading in close proximity to its 50-day moving average and its 52-week high.
