Insider Buying: Westlake Chemical Partners LP (NYSE:WLKP) CEO Buys $62,713.60 in Stock

Westlake Chemical Partners LP (NYSE:WLKP) CEO Albert Chao bought 4,780 shares of Westlake Chemical Partners stock in a transaction that occurred on Monday, March 23rd. The stock was purchased at an average cost of $13.12 per share, with a total value of $62,713.60. Following the completion of the acquisition, the chief executive officer now directly owns 161,656 shares in the company, valued at approximately $2,120,926.72. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

Albert Chao also recently made the following trade(s):

  • On Friday, March 20th, Albert Chao acquired 13,681 shares of Westlake Chemical Partners stock. The shares were bought at an average cost of $13.09 per share, with a total value of $179,084.29.
  • On Wednesday, March 18th, Albert Chao purchased 15,974 shares of Westlake Chemical Partners stock. The stock was bought at an average price of $11.68 per share, with a total value of $186,576.32.
  • On Monday, March 16th, Albert Chao purchased 7,535 shares of Westlake Chemical Partners stock. The stock was bought at an average price of $14.21 per share, with a total value of $107,072.35.
  • On Friday, March 13th, Albert Chao bought 3,580 shares of Westlake Chemical Partners stock. The shares were acquired at an average price of $15.18 per share, with a total value of $54,344.40.

WLKP opened at $16.10 on Friday. The company has a current ratio of 6.14, a quick ratio of 6.07 and a debt-to-equity ratio of 0.42. The firm has a market cap of $569.37 million, a price-to-earnings ratio of 9.15, a PEG ratio of 1.04 and a beta of 0.64. The stock’s 50-day moving average price is $19.59 and its 200 day moving average price is $22.27. Westlake Chemical Partners LP has a 12-month low of $10.31 and a 12-month high of $26.48.

Westlake Chemical Partners (NYSE:WLKP) last released its quarterly earnings data on Tuesday, February 18th. The basic materials company reported $0.49 EPS for the quarter, beating analysts’ consensus estimates of $0.48 by $0.01. The business had revenue of $272.80 million for the quarter. Westlake Chemical Partners had a return on equity of 6.31% and a net margin of 5.59%. On average, research analysts forecast that Westlake Chemical Partners LP will post 1.93 earnings per share for the current year.

Several research firms have issued reports on WLKP. Barclays reiterated a “buy” rating and issued a $29.00 target price on shares of Westlake Chemical Partners in a research note on Monday, February 24th. Zacks Investment Research raised Westlake Chemical Partners from a “sell” rating to a “hold” rating in a research note on Wednesday, March 18th.

Several institutional investors and hedge funds have recently bought and sold shares of the company. Tower Research Capital LLC TRC acquired a new position in Westlake Chemical Partners during the third quarter worth $100,000. Jane Street Group LLC purchased a new stake in Westlake Chemical Partners during the fourth quarter valued at about $397,000. Raymond James & Associates lifted its stake in shares of Westlake Chemical Partners by 69.3% during the fourth quarter. Raymond James & Associates now owns 16,228 shares of the basic materials company’s stock worth $429,000 after purchasing an additional 6,644 shares in the last quarter. State of Tennessee Treasury Department lifted its stake in shares of Westlake Chemical Partners by 62.4% during the fourth quarter. State of Tennessee Treasury Department now owns 16,452 shares of the basic materials company’s stock worth $435,000 after purchasing an additional 6,321 shares in the last quarter. Finally, Alphasimplex Group LLC acquired a new position in shares of Westlake Chemical Partners during the fourth quarter worth about $549,000. 45.37% of the stock is owned by institutional investors and hedge funds.

Westlake Chemical Partners Company Profile

Westlake Chemical Partners LP acquires, develops, and operates ethylene production facilities and related assets in the United States. The company's ethylene production facilities primarily convert ethane into ethylene. It also sells ethylene co-products, including propylene, crude butadiene, pyrolysis gasoline, and hydrogen directly to third parties on a spot or contract basis.

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Insider Buying and Selling by Quarter for Westlake Chemical Partners (NYSE:WLKP)

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