|Bid||20.65 x 800|
|Ask||0.00 x 1100|
|Day's Range||22.62 - 22.89|
|52 Week Range||20.25 - 24.95|
|Beta (3Y Monthly)||0.61|
|PE Ratio (TTM)||13.84|
|Earnings Date||Feb 17, 2020 - Feb 21, 2020|
|Forward Dividend & Yield||1.86 (8.17%)|
|1y Target Est||26.38|
Houston-based Westlake Chemical Corp. (NYSE: WLK) has closed an $816.5 million deal buying additional interest in one of its joint ventures. Westlake reached an agreement through one of its subsidiaries with South Korea-based Lotte Chemical Corp. (KRX: 011170) late last month to purchase about 35 percent of additional interest in LACC LLC, an ethylene joint venture between the two companies, according to an Oct. 30 filing with the U.S. Securities and Exchange Commission. The whole joint venture project originally cost around $2 billion, Westlake CFO Steve Bender said on the company’s third-quarter earnings conference call earlier this month.
Westlake Chemical Partners LP (WLKP) today announced that Mr. Randy G. Woelfel has been appointed to the board of directors of its general partner, Westlake Chemical Partners GP LLC. He will replace Mr. David Lumpkins, who informed the company that he will resign from the board effective November 14, 2019, in order to focus on PetroLogistics II LLC, a petrochemical development company of which he is the chairman and co-founder. Mr. Woelfel was formerly the chief executive officer and a director of NOVA Chemicals Corporation. Prior to joining NOVA, Mr. Woelfel was managing director of energy for the Houston Technology Center; president of Cereplast, Inc.; and he served in a variety of senior positions at Shell Oil Company and its affiliated companies, including as president of Basell International, president of Basell North America and as a board member of numerous Basell International petrochemical ventures.
HOUSTON-- -- Quarterly net income attributable to the Partnership of $14.9 million; MLP distributable cash flow of $20.5 million Increased quarterly cash distribution by 1.5% sequentially, or 6% annualized, compared to the second quarter 2019 distribution, to $0.4646 per unit, the 19th consecutive quarterly increase in distributions Westlake Chemical Partners LP today reported net income attributable ...
The Board of Directors of Westlake Chemical Partners GP LLC, the general partner of Westlake Chemical Partners LP (the "Partnership") (WLKP), has adjusted its distribution growth strategy to reflect market conditions and today declared a distribution of $0.4646 per unit, representing a 1.5% increase from the second quarter 2019 distribution. This is the 21st quarterly distribution announced by the Partnership since its initial public offering. The distribution will be payable on November 26, 2019, to unit holders of record on November 12, 2019.
Westlake Chemical Partners will release its 2019 third quarter earnings prior to the market opening on Tuesday, November 5, 2019. The company will host a conference call at 12:00 p.m.
Update: Westlake announced Nov. 8 that it would replace David Lumpkins with Randy Woelfel, the former CEO of Houston-based Nova Chemicals Corp. Woelfel is also a director of Black & Veatch Holding Co., according to Westlake's filing with the SEC. A director at Houston-based Westlake Chemical Partners LP (NYSE: WLKP) tendered his resignation from the board on Oct. 11. The former director, David Lumpkins, is leaving Westlake to focus on his own chemical company, Petrologistics II LLC, also based in Houston, according to a filing with the U.S. Securities and Exchange Commission.
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Westlake Chemical Corporation’s (NYSE: WLK) management on Monday provided annual guidance for the first time in the company’s history. BMO’s John McNulty maintained a Market Perform rating on Westlake Chemical with a price target of $75. Westlake Chemical announced second-quarter EBITDA and EPS guidance at $340 million-$363 million and 73 cents-87 cents, respectively.
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