LyondellBasell Industries NV CEO Unloads $9,515,795 in Stock (LYB)
LyondellBasell Industries NV (NYSE:LYB) CEO James L. Gallogly unloaded 83,333 shares of the stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $114.19, for a total transaction of $9,515,795.27. Following the completion of the transaction, the chief executive officer now directly owns 1,128,616 shares in the company, valued at approximately $128,876,661. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
A number of research firms have recently commented on LYB. 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 investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $114.40.
Shares of LyondellBasell Industries NV (NYSE:LYB) traded up 0.04% on Wednesday, hitting $114.23. 1,770,827 shares of the company’s stock traded hands. LyondellBasell Industries NV has a one year low of $68.94 and a one year high of $115.33. The stock’s 50-day moving average is $108.0 and its 200-day moving average is $97.31. The company has a market cap of $58.523 billion and a price-to-earnings ratio of 15.17.
LyondellBasell Industries NV (NYSE:LYB) last posted its quarterly earnings results on Friday, July 25th. The company reported $2.22 earnings per share (EPS) for the quarter, beating the 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 previous year, the company posted $1.60 earnings per share. The company’s revenue for the quarter 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 declared a quarterly dividend, which is scheduled for Monday, September 8th. Stockholders of record on Monday, August 25th will be given a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 2.45%. The ex-dividend date of this dividend 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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