Westlake Chemical Partners LP (NYSE:WLKP) Sees Large Growth in Short Interest

Westlake Chemical Partners LP (NYSE:WLKPGet Free Report) saw a significant increase in short interest in the month of January. As of January 31st, there was short interest totalling 140,100 shares, an increase of 20.8% from the January 15th total of 116,000 shares. Based on an average daily volume of 41,800 shares, the days-to-cover ratio is presently 3.4 days. Approximately 0.7% of the company’s shares are sold short.

Westlake Chemical Partners Stock Up 0.4 %

Shares of Westlake Chemical Partners stock traded up $0.09 during trading hours on Friday, reaching $23.64. 99,281 shares of the company were exchanged, compared to its average volume of 29,747. Westlake Chemical Partners has a 1 year low of $21.19 and a 1 year high of $24.98. The stock’s fifty day moving average is $23.73 and its 200 day moving average is $23.03. The company has a debt-to-equity ratio of 0.48, a quick ratio of 4.46 and a current ratio of 4.53. The firm has a market cap of $833.07 million, a PE ratio of 13.51 and a beta of 1.09.

Westlake Chemical Partners Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 25th. Stockholders of record on Friday, February 7th will be given a dividend of $0.4714 per share. The ex-dividend date is Friday, February 7th. This represents a $1.89 dividend on an annualized basis and a dividend yield of 7.98%. This is a positive change from Westlake Chemical Partners’s previous quarterly dividend of $0.47. Westlake Chemical Partners’s dividend payout ratio is currently 108.00%.

Institutional Trading of Westlake Chemical Partners

A number of large investors have recently modified their holdings of WLKP. Wilmington Savings Fund Society FSB acquired a new position in shares of Westlake Chemical Partners during the third quarter worth $36,000. Geneos Wealth Management Inc. grew its stake in shares of Westlake Chemical Partners by 32.2% during the fourth quarter. Geneos Wealth Management Inc. now owns 3,337 shares of the basic materials company’s stock worth $77,000 after purchasing an additional 812 shares in the last quarter. GeoWealth Management LLC acquired a new position in shares of Westlake Chemical Partners during the fourth quarter worth $175,000. Allspring Global Investments Holdings LLC acquired a new position in shares of Westlake Chemical Partners during the fourth quarter worth $211,000. Finally, Apollon Wealth Management LLC grew its stake in shares of Westlake Chemical Partners by 7.5% during the third quarter. Apollon Wealth Management LLC now owns 14,909 shares of the basic materials company’s stock worth $334,000 after purchasing an additional 1,041 shares in the last quarter. Hedge funds and other institutional investors own 78.28% of the company’s stock.

Westlake Chemical Partners Company Profile

(Get Free Report)

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, such as propylene, crude butadiene, pyrolysis gasoline, and hydrogen directly to third parties on either a spot or contract basis.

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