LyondellBasell Industries NV EVP Unloads $1,484,927 in Stock (LYB)
LyondellBasell Industries NV (NYSE:LYB) EVP Craig B. Glidden sold 13,004 shares of the stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $114.19, for a total value of $1,484,926.76. Following the completion of the sale, the executive vice president now directly owns 209,118 shares of the company’s stock, valued at approximately $23,879,184. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.
LyondellBasell Industries NV (NYSE:LYB) traded up 0.04% during mid-day trading on Wednesday, hitting $114.23. The stock had a trading volume of 1,770,827 shares. LyondellBasell Industries NV has a 1-year low of $69.24 and a 1-year high of $115.33. The stock has a 50-day moving average of $108.5 and a 200-day moving average of $97.43. 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 for the quarter, beating the analysts’ 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 last year, the company posted $1.60 earnings per share. LyondellBasell Industries NV’s revenue was up 9.1% compared to the same quarter last year. On average, analysts predict that LyondellBasell Industries NV will post $8.08 earnings per share 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.
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 analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $114.40.
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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