LyondellBasell Industries NV Reaches New 12-Month High at $110.49 (LYB)
Shares of LyondellBasell Industries NV (NYSE:LYB) reached a new 52-week high during trading on Thursday , American Banking and Market News reports. The stock traded as high as $110.49 and last traded at $110.33, with a volume of 981,178 shares changing hands. The stock had previously closed at $109.85.
LYB has been the subject of a number of recent research reports. Analysts at Susquehanna raised their price target on shares of LyondellBasell Industries NV from $108.00 to $123.00 in a research note on Wednesday, August 6th. Separately, analysts at Jefferies Group raised their price target on shares of LyondellBasell Industries NV from $120.00 to $125.00 in a research note on Tuesday, July 29th. They now have a “buy” rating on the stock. Finally, analysts at JPMorgan Chase & Co. reiterated an “overweight” rating on shares of LyondellBasell Industries NV in a research note on Monday, July 28th. They now have a $115.00 price target on the stock, up previously from $109.00. Seven analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $114.40.
The stock has a 50-day moving average of $102. and a 200-day moving average of $93.97. The company has a market cap of $56.248 billion and a price-to-earnings ratio of 14.59.
LyondellBasell Industries NV (NYSE:LYB) last announced its earnings results on Friday, July 25th. The company reported $2.22 EPS for the quarter, beating the Thomson Reuters consensus estimate of $1.92 by $0.30. The company had revenue of $12.12 billion for the quarter, compared to the consensus estimate of $11.45 billion. During the same quarter in the prior year, the company posted $1.60 earnings per share. The company’s quarterly revenue was up 9.1% on a year-over-year basis. On average, analysts predict that LyondellBasell Industries NV will post $8.07 earnings per share for the current fiscal year.
In other LyondellBasell Industries NV news, CEO James L. Gallogly sold 83,333 shares of the stock on the open market in a transaction dated Monday, August 4th. The shares were sold at an average price of $107.42, for a total transaction of $8,951,630.86. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.
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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