RBC Capital Markets Reiterates Hold Rating for LyondellBasell Industries (LYB)
LyondellBasell Industries (NYSE:LYB)‘s stock had its “hold” rating restated by research analysts at RBC Capital Markets in a research note issued to investors on Tuesday. They presently have a $82.00 target price on the stock. RBC Capital Markets’ target price indicates a potential upside of 4.54% from the company’s current price.
A number of other research firms have also recently weighed in on LYB. Vetr upgraded LyondellBasell Industries from a “buy” rating to a “strong-buy” rating and set a $84.88 price target on the stock in a report on Monday, August 1st. Barclays PLC lowered their price target on LyondellBasell Industries from $99.00 to $95.00 and set an “overweight” rating on the stock in a report on Tuesday, August 2nd. Susquehanna lowered their price target on LyondellBasell Industries from $100.00 to $96.00 and set a “positive” rating on the stock in a report on Friday, August 26th. Jefferies Group restated a “neutral” rating on shares of LyondellBasell Industries in a report on Tuesday, September 6th. Finally, Royal Bank Of Canada cut LyondellBasell Industries from an “outperform” rating to a “sector perform” rating and lowered their price target for the stock from $100.00 to $84.00 in a 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 given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $88.57.
Shares of LyondellBasell Industries (NYSE:LYB) opened at 78.44 on Tuesday. LyondellBasell Industries has a 52-week low of $69.10 and a 52-week high of $98.25. The firm has a 50-day moving average price of $77.08 and a 200-day moving average price of $80.73. The stock has a market cap of $32.61 billion, a P/E ratio of 8.47 and a beta of 1.71.
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LyondellBasell Industries (NYSE:LYB) last released its quarterly earnings results on Friday, July 29th. The company reported $2.45 earnings per share for the quarter, missing analysts’ consensus estimates of $2.51 by $0.06. The firm earned $7.33 billion during the quarter, compared to analyst estimates of $7.64 billion. LyondellBasell Industries had a return on equity of 66.25% and a net margin of 13.91%. The business’s revenue was down 19.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.81 EPS. On average, analysts anticipate that LyondellBasell Industries will post $9.61 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 6th. Shareholders of record on Tuesday, August 16th were given a $0.85 dividend. This represents a $3.40 annualized dividend and a yield of 4.33%. The ex-dividend date of this dividend was Friday, August 12th. LyondellBasell Industries’s dividend payout ratio (DPR) is presently 36.68%.
In other LyondellBasell Industries news, Director Jagjeet S. Bindra sold 3,750 shares of the firm’s stock in a transaction dated Tuesday, August 30th. The stock was sold at an average price of $80.01, for a total value of $300,037.50. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.14% of the stock is owned by company insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Mn Services Vermogensbeheer B.V. bought a new position in LyondellBasell Industries during the first quarter valued at approximately $717,000. Commonwealth Equity Services Inc raised its position in LyondellBasell Industries by 1.6% in the first quarter. Commonwealth Equity Services Inc now owns 18,177 shares of the company’s stock valued at $1,556,000 after buying an additional 282 shares during the period. Apex Capital Management raised its position in LyondellBasell Industries by 52.6% in the first quarter. Apex Capital Management now owns 11,187 shares of the company’s stock valued at $957,000 after buying an additional 3,858 shares during the period. Arvest Bank Trust Division raised its position in LyondellBasell Industries by 3.4% in the first quarter. Arvest Bank Trust Division now owns 63,922 shares of the company’s stock valued at $5,471,000 after buying an additional 2,117 shares during the period. Finally, Sanders Morris Harris Inc. bought a new position in LyondellBasell Industries during the first quarter valued at approximately $873,000. 68.63% of the stock is currently owned by institutional investors.
LyondellBasell Industries Company Profile
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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