LyondellBasell Industries (NYSE:LYB) had its price target raised by Jefferies Group from $84.00 to $88.00 in a research note issued to investors on Thursday. The brokerage currently has a hold rating on the stock.
A number of other equities research analysts have also recently commented on LYB. Cowen and Company cut shares of LyondellBasell Industries from an outperform rating to a market perform rating and reduced their price target for the stock from $105.00 to $87.00 in a report on Monday, June 13th. Morgan Stanley restated a buy rating on shares of LyondellBasell Industries in a report on Thursday, June 16th. JPMorgan Chase & Co. cut shares of LyondellBasell Industries from an overweight rating to a neutral rating and reduced their price target for the stock from $100.00 to $80.00 in a report on Thursday, June 23rd. Vetr upgraded shares of LyondellBasell Industries from a buy rating to a strong-buy rating and set a $85.17 price target for the company in a report on Monday, June 27th. Finally, Royal Bank Of Canada cut shares of LyondellBasell Industries from an outperform rating to a sector perform rating and reduced their price target for the stock from $100.00 to $84.00 in a report on Monday, June 27th. Three investment analysts have rated the stock with a sell rating, eleven have given a hold rating and four have assigned a buy rating to the company. LyondellBasell Industries has an average rating of Hold and an average price target of $88.86.
Shares of LyondellBasell Industries (NYSE:LYB) opened at 77.78 on Thursday. LyondellBasell Industries has a one year low of $69.10 and a one year high of $98.25. The stock has a 50 day moving average of $77.68 and a 200-day moving average of $80.46. The company has a market capitalization of $32.33 billion, a PE ratio of 8.40 and a beta of 1.71.
LyondellBasell Industries (NYSE:LYB) last announced its earnings results on Friday, July 29th. The company reported $2.45 earnings per share for the quarter, missing analysts’ consensus estimates of $2.51 by $0.06. LyondellBasell Industries had a return on equity of 66.25% and a net margin of 13.91%. The firm had revenue of $7.33 billion for the quarter, compared to the consensus estimate of $7.64 billion. During the same period in the prior year, the business earned $2.81 EPS. LyondellBasell Industries’s quarterly revenue was down 19.9% on a year-over-year basis. On average, equities analysts forecast that LyondellBasell Industries will post $9.61 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 6th. Shareholders of record on Tuesday, August 16th were given a $0.85 dividend. This represents a $3.40 annualized dividend and a yield of 4.37%. The ex-dividend date of this dividend was Friday, August 12th. LyondellBasell Industries’s dividend payout ratio is 36.68%.
In other LyondellBasell Industries news, Director Jagjeet S. Bindra sold 3,750 shares of LyondellBasell Industries stock in a transaction dated Tuesday, August 30th. The shares were sold at an average price of $80.01, for a total value of $300,037.50. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 0.14% of the stock is currently owned by company insiders.
Hedge funds have recently made changes to their positions in the company. Pinkerton Retirement Specialists LLC bought a new stake in shares of LyondellBasell Industries during the second quarter valued at approximately $103,000. Americafirst Capital Management LLC bought a new stake in shares of LyondellBasell Industries during the second quarter valued at approximately $106,000. Pacer Advisors Inc. raised its stake in shares of LyondellBasell Industries by 321.5% in the second quarter. Pacer Advisors Inc. now owns 1,492 shares of the company’s stock valued at $111,000 after buying an additional 1,138 shares in the last quarter. Exane Derivatives raised its stake in shares of LyondellBasell Industries by 103.6% in the second quarter. Exane Derivatives now owns 1,547 shares of the company’s stock valued at $115,000 after buying an additional 787 shares in the last quarter. Finally, J.Safra Asset Management Corp bought a new stake in shares of LyondellBasell Industries during the second quarter valued at approximately $129,000. 71.62% of the stock is currently owned by institutional investors and hedge funds.
LyondellBasell Industries Company Profile
LyondellBasell Industries N.V. is a global chemical company. The Company’s segments include Olefins and Polyolefins-Americas (O&P-Americas), Olefins and Polyolefins-Europe, Asia, International (O&P-EAI), Intermediates and Derivatives (I&D), Refining, and Technology. Its O&P-Americas segment produces and markets olefins, including ethylene and ethylene co-products, and polyolefins.
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