Insider Selling: LyondellBasell Industries NV SVP Sells 7,270 Shares of Stock (LYB)
LyondellBasell Industries NV (NYSE:LYB) SVP Michael D. Vandersnick sold 7,270 shares of the company’s stock on the open market in a transaction dated Friday, August 29th. The stock was sold at an average price of $114.00, for a total transaction of $828,780.00. Following the completion of the transaction, the senior vice president now directly owns 15,113 shares in the company, valued at approximately $1,722,882. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
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 an average rating of “Buy” and a consensus price target of $114.40.
LyondellBasell Industries NV (NYSE:LYB) traded up 0.77% during mid-day trading on Friday, hitting $114.35. The stock had a trading volume of 2,052,317 shares. LyondellBasell Industries NV has a one year low of $68.94 and a one year high of $113.71. The stock’s 50-day moving average is $106.9 and its 200-day moving average is $96.54. The company has a market cap of $58.585 billion and a P/E ratio of 15.08.
LyondellBasell Industries NV (NYSE:LYB) last posted its quarterly 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. Analysts expect that LyondellBasell Industries NV will post $8.08 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Monday, September 8th. Investors of record on Monday, August 25th will be paid a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 2.45%. The ex-dividend date is Thursday, August 21st.
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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