LyondellBasell Industries N.V. Sees Unusually High Options Volume (LYB)
Shares of LyondellBasell Industries N.V. (NYSE:LYB) was the target of some unusual options trading on Wednesday. Investors purchased 8,646 put options on the company, AnalystRatingsNetwork.com reports. This is an increase of approximately 376% compared to the average volume of 1,816 put options.
LYB has been the subject of a number of recent research reports. Analysts at Cowen and Company raised their price target on shares of LyondellBasell Industries N.V. (NYSE:LYB) from $68.00 to $77.00 in a research note to investors on Wednesday, August 28th. They now have an “outperform” rating on the stock. Separately, analysts at Barclays Capital raised their price target on shares of LyondellBasell Industries N.V. (NYSE:LYB) from $77.00 to $83.00 in a research note to investors on Tuesday, August 6th. Finally, analysts at Jefferies Group raised their price target on shares of LyondellBasell Industries N.V. (NYSE:LYB) from $80.00 to $83.00 in a research note to investors on Monday, August 5th.
Three research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $72.07.
Shares of LyondellBasell Industries N.V. (NYSE:LYB) traded up 0.69% during mid-day trading on Wednesday, hitting $72.92. 2,448,495 shares of the company’s stock traded hands. LyondellBasell Industries N.V. has a one year low of $44.87 and a one year high of $75.67. The stock’s 50-day moving average is $70.1 and its 200-day moving average is $65.95. The company has a market cap of $41.355 billion and a price-to-earnings ratio of 12.69.
LyondellBasell Industries N.V. (NYSE:LYB) last issued its quarterly earnings data on Friday, July 26th. The company reported $1.60 EPS for the quarter, missing the Thomson Reuters consensus estimate of $1.62 by $0.02. The company had revenue of $11.10 billion for the quarter, compared to the consensus estimate of $11.30 billion. During the same quarter in the prior year, the company posted $1.66 earnings per share. The company’s quarterly revenue was down 1.3% on a year-over-year basis. Analysts expect that LyondellBasell Industries N.V. will post $6.13 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Monday, October 7th. Stockholders of record on Monday, September 23rd will be given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 2.76%. The ex-dividend date of this dividend is Thursday, September 19th.
LyondellBasell Industries N.V. is an independent chemical company. The Company’s chemicals businesses consist of processing plants that convert volumes of liquid and gaseous hydrocarbon feedstock into plastic resins and other chemicals.
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