Westlake Chemical Partners (NYSE:WLKP) Lowered to “Buy” at StockNews.com

Westlake Chemical Partners (NYSE:WLKP) is a limited partnership that operates in the chemical manufacturing industry. The company produces and sells chemicals used in a variety of applications, including petrochemicals, polymers, and specialty chemicals.

On August 18, 2021, StockNews.com lowered its recommendation on Westlake Chemical Partners from "Hold" to "Buy." This change was based on the company's strong financial performance and growth prospects.

According to the company's latest quarterly report for the period ended June 30, 2021, Westlake Chemical Partners reported net income of $54.7 million, compared to a net loss of $16.9 million in the same period last year. The company's revenue increased by 8.3% to $1.1 billion, driven by higher sales volumes and pricing.

Westlake Chemical Partners also announced that it has entered into an agreement to acquire a 50% interest in a new ethylene oxide (EO) production facility in Texas. The EO facility is expected to be operational by the end of 2023 and will produce approximately 1.5 billion pounds of EO per year, which will be used in the production of various chemicals.

Overall, Westlake Chemical Partners' strong financial performance and growth prospects make it an attractive investment opportunity for investors looking to invest in the chemical manufacturing industry.