LyondellBasell Industries (LYB) Rating Reiterated by RBC Capital Markets
LyondellBasell Industries (NYSE:LYB)‘s stock had its “hold” rating reissued by equities research analysts at RBC Capital Markets in a note issued to investors on Tuesday. They presently have a $82.00 price objective on the stock. RBC Capital Markets’ price objective would suggest a potential upside of 5.75% from the company’s current price.
Several other research firms have also recently weighed in on LYB. Vetr upgraded shares of LyondellBasell Industries from a “buy” rating to a “strong-buy” rating and set a $84.88 price objective on the stock in a research report on Monday, August 1st. Barclays PLC lowered their price objective on shares of LyondellBasell Industries from $99.00 to $95.00 and set an “overweight” rating on the stock in a research report on Tuesday, August 2nd. Susquehanna lowered their price objective on shares of LyondellBasell Industries from $100.00 to $96.00 and set a “positive” rating on the stock in a research report on Friday, August 26th. Jefferies Group restated a “neutral” rating on shares of LyondellBasell Industries in a research report on Tuesday, September 6th. Finally, Royal Bank Of Canada cut shares of LyondellBasell Industries from an “outperform” rating to a “sector perform” rating and lowered their price objective for the company from $100.00 to $84.00 in a research report on Monday, June 27th. Three equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and four have assigned a buy rating to the company’s stock. LyondellBasell Industries has an average rating of “Hold” and an average price target of $88.57.
LyondellBasell Industries (NYSE:LYB) traded down 1.15% during mid-day trading on Tuesday, hitting $77.54. The company’s stock had a trading volume of 2,835,725 shares. LyondellBasell Industries has a 52-week low of $69.10 and a 52-week high of $98.25. The firm has a market cap of $32.24 billion, a price-to-earnings ratio of 8.37 and a beta of 1.71. The firm has a 50 day moving average of $77.08 and a 200-day moving average of $80.73.
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LyondellBasell Industries (NYSE:LYB) last announced its quarterly earnings results on Friday, July 29th. The company reported $2.45 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $2.51 by $0.06. LyondellBasell Industries had a net margin of 13.91% and a return on equity of 66.25%. The firm earned $7.33 billion during the quarter, compared to the consensus estimate of $7.64 billion. During the same period in the previous year, the business earned $2.81 earnings per share. The firm’s revenue for the quarter was down 19.9% on a year-over-year basis. On average, equities research analysts expect that LyondellBasell Industries will post $9.61 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Tuesday, September 6th. Stockholders of record on Tuesday, August 16th were paid a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a dividend yield of 4.38%. The ex-dividend date was Friday, August 12th. LyondellBasell Industries’s payout ratio is 36.68%.
In other news, Director Jagjeet S. Bindra sold 3,750 shares of LyondellBasell Industries stock in a transaction dated Tuesday, August 30th. The shares were sold at an average price of $80.01, for a total transaction of $300,037.50. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.14% of the company’s stock.
Large investors have recently bought and sold shares of the company. Checchi Capital Advisers LLC raised its stake in LyondellBasell Industries by 0.3% in the second quarter. Checchi Capital Advisers LLC now owns 2,271 shares of the company’s stock valued at $169,000 after buying an additional 7 shares during the last quarter. FirstMerit Bank N A Trustee raised its stake in LyondellBasell Industries by 0.6% in the second quarter. FirstMerit Bank N A Trustee now owns 5,049 shares of the company’s stock valued at $376,000 after buying an additional 28 shares during the last quarter. Bremer Trust National Association raised its stake in LyondellBasell Industries by 0.8% in the second quarter. Bremer Trust National Association now owns 4,053 shares of the company’s stock valued at $302,000 after buying an additional 33 shares during the last quarter. Cypress Capital Group raised its stake in LyondellBasell Industries by 0.4% in the first quarter. Cypress Capital Group now owns 8,160 shares of the company’s stock valued at $698,000 after buying an additional 35 shares during the last quarter. Finally, Eagle Ridge Investment Management raised its stake in LyondellBasell Industries by 0.6% in the second quarter. Eagle Ridge Investment Management now owns 8,615 shares of the company’s stock valued at $641,000 after buying an additional 53 shares during the last quarter. 68.63% of the stock is currently owned by institutional investors and hedge funds.
About LyondellBasell Industries
LyondellBasell Industries N.V. is a global chemical company. The Company’s segments include Olefins and Polyolefins-Americas (O&P-Americas), Olefins and Polyolefins-Europe, Asia, International (O&P-EAI), Intermediates and Derivatives (I&D), Refining, and Technology. Its O&P-Americas segment produces and markets olefins, including ethylene and ethylene co-products, and polyolefins.
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