LyondellBasell Industries Receives New Coverage from Analysts at Atlantic Securities (LYB)
Equities research analysts at Atlantic Securities began coverage on shares of LyondellBasell Industries (NYSE:LYB) in a research note issued to investors on Tuesday, TheFlyOnTheWall.com reports. The firm set an “overweight” rating and a $115.00 price target on the stock. Atlantic Securities’ price objective would suggest a potential upside of 23.08% from the stock’s previous close.
A number of other analysts have also recently weighed in on LYB. Analysts at Cowen and Company raised their price target on shares of LyondellBasell Industries from $77.00 to $98.00 in a research note on Tuesday, April 15th. They now have an “outperform” rating on the stock. Separately, analysts at Morgan Stanley raised their price target on shares of LyondellBasell Industries from $91.00 to $100.00 in a research note on Friday, April 11th. Finally, analysts at Citigroup Inc. raised their price target on shares of LyondellBasell Industries from $95.00 to $105.00 in a research note on Wednesday, March 19th. One investment analyst has rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $95.27.
Shares of LyondellBasell Industries (NYSE:LYB) traded up 1.12% on Tuesday, hitting $93.27. 2,479,304 shares of the company’s stock traded hands. LyondellBasell Industries has a 1-year low of $57.33 and a 1-year high of $93.43. The stock’s 50-day moving average is $89.5 and its 200-day moving average is $81.35. The company has a market cap of $50.977 billion and a price-to-earnings ratio of 13.67. LyondellBasell Industries also saw some unusual options trading activity on Monday. Investors purchased 5,618 call options on the stock. This is an increase of 315% compared to the typical daily volume of 1,353 call options.
LyondellBasell Industries (NYSE:LYB) last posted its quarterly earnings results on Thursday, January 30th. The company reported $2.11 earnings per share for the quarter, beating the analysts’ consensus estimate of $1.40 by $0.71. The company had revenue of $11.14 billion for the quarter, compared to the consensus estimate of $10.76 billion. During the same quarter last year, the company posted $1.13 earnings per share. LyondellBasell Industries’s revenue was up .4% compared to the same quarter last year. On average, analysts predict that LyondellBasell Industries will post $7.44 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Monday, May 12th. Investors of record on Monday, April 28th will be paid a dividend of $0.9721 per share. This represents a $3.89 annualized dividend and a dividend yield of 4.16%. The ex-dividend date is Thursday, April 24th.
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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