Several other equities analysts also recently weighed in on the stock.
02/25/2016 - Westlake Chemical Partners LP had its "buy" rating reiterated by analysts at Deutsche Bank. Wells Fargo & Company restated a "positive" rating and set a $94.00 target price (up previously from $77.00) on shares of Westlake Chemical Corporation in a research report on Wednesday, September 27th. Royal Bank Of Canada reaffirmed a "buy" rating on shares of Westlake Chemical Corporation in a research note on Friday, August 4th. Nomura upgraded shares of Westlake Chemical Corporation from a "neutral" rating to a "buy" rating and set a $98.00 target price for the company in a report on Tuesday, September 26th. Finally, Instinet upgraded shares of Westlake Chemical Corporation from a "neutral" rating to a "buy" rating in a research report on Tuesday, September 26th.
Based on the latest notes released to investors, 2 analysts have issued a rating of "buy", 0 analysts "outperform", 0 analysts "hold", 0 analysts "underperform" and 0 analysts "sell". The stock now has a consensus rating of "Buy" and an average price target of $78.78.
Shares of Westlake Chemical Corporation (NYSE:WLK) traded down 0.36% during trading on Wednesday, reaching $83.99. Westlake Chemical Corporation has a one year low of $48.92 and a one year high of $85.55. The stock has a market cap of $665.65 million, a P/E ratio of 17.24 and a beta of 1.29.
The stock's 50 day moving average is 23.49 and its 200 day moving average is 24.35.
Westlake Chemical Corporation (NYSE:WLK) last announced its quarterly earnings results on Thursday, August 3rd. The specialty chemicals company reported $1.21 earnings per share for the quarter, topping the Thomson Reuters' consensus estimate of $1.19 by $0.02. The business had revenue of $1.98 billion during the quarter, compared to the consensus estimate of $2 billion.
Trading volume for Westlake Chemical Partners LP C was 937 by the end of trading on Tuesday. The dividend was $0.365 per share for the quarter or $1.46 on an annualized basis. Next quarter's EPS is forecasted at $0.48 and the next full year EPS is projected to be $1.61. Westlake Chemical Corporation's dividend payout ratio (DPR) is now 24.00%. If you are viewing this report on another domain, it was illegally copied and reposted in violation of US & worldwide copyright & trademark legislation. The original version of this news story can be viewed at https://www.dispatchtribunal.com/2017/10/10/westlake-chemical-corporation-wlk-price-target-raised-to-92-00.html. This is a positive change from Westlake Chemical Corporation's previous quarterly dividend of $0.19. The stock was sold at an average price of $70.22, for a total value of $968,614.68. Following the completion of the transaction, the director now owns 5,000 shares of the company's stock, valued at $127,100. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The firm owned 93,340 shares of the specialty chemicals company's stock after selling 10,430 shares during the period.
Institutional investors have recently modified their holdings of the stock. Advisors Asset Management Inc. grew its holdings in shares of Westlake Chemical Corporation by 162.8% during the second quarter. Private Advisor Group LLC now owns 3,388 shares of the specialty chemicals company's stock worth $229,000 after purchasing an additional 103 shares during the period. LSV Asset Management bought a new stake in Westlake Chemical Corporation in the 2nd quarter valued at about $10,940,000.
ILLEGAL ACTIVITY WARNING: "Somewhat Favorable Media Coverage Somewhat Unlikely to Impact Westlake Chemical Corporation (WLK) Share Price" was first published by StockNewsTimes and is the property of of StockNewsTimes. It manufactures ethylene (through Westlake Chemical OpCo LP (OpCo)), polyethylene, styrene and associated co-products at its manufacturing facility in Lake Charles and polyethylene at its Longview facility. Finally, Private Advisor Group LLC boosted its stake in Westlake Chemical Corporation by 3.1% in the 2nd quarter.