Traders Purchase High Volume of Put Options on LyondellBasell Industries N.V. (LYB)
Shares of LyondellBasell Industries N.V. (NYSE:LYB) was the recipient of unusually large options trading on Friday. Stock investors bought 3,606 put options on the stock, Analyst Ratings Network reports. This is an increase of 287% compared to the typical volume of 931 put options.
A number of research firms have recently commented on LYB. Analysts at RBC Capital upgraded shares of LyondellBasell Industries N.V. from an “outperform” rating to a “top pick” rating in a research note to investors on Thursday, December 12th. They now have a $110.00 price target on the stock, up previously from $90.00. Finally, analysts at Jefferies Group raised their price target on shares of LyondellBasell Industries N.V. from $83.00 to $90.00 in a research note to investors on Wednesday, October 16th. They now have a “buy” rating on the stock. One research analyst has rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $80.18.
LyondellBasell Industries N.V. (NYSE:LYB) traded down 0.09% during mid-day trading on Friday, hitting $78.71. The stock had a trading volume of 1,528,547 shares. LyondellBasell Industries N.V. has a 52-week low of $55.02 and a 52-week high of $80.33. The stock’s 50-day moving average is $77.7 and its 200-day moving average is $72.74. The company has a market cap of $43.576 billion and a price-to-earnings ratio of 13.70.
LyondellBasell Industries N.V. (NYSE:LYB) last issued its quarterly earnings data on Tuesday, October 29th. The company reported $1.51 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.59 by $0.08. The company had revenue of $11.15 billion for the quarter, compared to the consensus estimate of $11.40 billion. During the same quarter in the previous year, the company posted $1.47 earnings per share. On average, analysts predict that LyondellBasell Industries N.V. will post $6.10 earnings per share for the current fiscal year.
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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