Traders Buy Shares of LyondellBasell Industries (LYB) on Weakness
Investors bought shares of LyondellBasell Industries (NYSE:LYB) on weakness during trading hours on Tuesday. $54.83 million flowed into the stock on the tick-up and $30.42 million flowed out of the stock on the tick-down, for a money net flow of $24.41 million into the stock. Of all equities tracked, LyondellBasell Industries had the 19th highest net in-flow for the day. LyondellBasell Industries traded down ($0.90) for the day and closed at $77.54
A number of research firms recently weighed in on LYB. RBC Capital Markets restated a “hold” rating and set a $82.00 target price on shares of LyondellBasell Industries in a research note on Tuesday. Vetr upgraded shares of LyondellBasell Industries from a “buy” rating to a “strong-buy” rating and set a $85.17 target price on the stock in a research note on Monday, June 27th. Citigroup Inc. lowered their target price on shares of LyondellBasell Industries from $81.00 to $80.00 and set a “neutral” rating on the stock in a research note on Tuesday, August 2nd. Nomura lowered their target price on shares of LyondellBasell Industries from $89.00 to $85.00 and set a “neutral” rating on the stock in a research note on Monday, July 11th. Finally, Barclays PLC lowered their target price on shares of LyondellBasell Industries from $99.00 to $95.00 and set an “overweight” rating on the stock in a research note on Tuesday, August 2nd. Three investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and four have assigned a buy rating to the company. LyondellBasell Industries currently has a consensus rating of “Hold” and a consensus price target of $88.57.
The company’s 50-day moving average is $77.16 and its 200 day moving average is $80.69. The stock has a market cap of $32.24 billion, a P/E ratio of 8.37 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 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $2.51 by $0.06. The firm had revenue of $7.33 billion for the quarter, compared to analyst estimates of $7.64 billion. LyondellBasell Industries had a net margin of 13.91% and a return on equity of 66.25%. The firm’s quarterly revenue was down 19.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.81 EPS. Analysts predict that LyondellBasell Industries will post $9.61 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, September 6th. Investors of record on Tuesday, August 16th were given a dividend of $0.85 per share. The ex-dividend date of this dividend was Friday, August 12th. This represents a $3.40 annualized dividend and a yield of 4.38%. LyondellBasell Industries’s dividend payout ratio is presently 36.68%.
In related news, Director Jagjeet S. Bindra sold 3,750 shares of the firm’s stock in a transaction on Tuesday, August 30th. The shares were sold at an average price of $80.01, for a total transaction of $300,037.50. The transaction was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 0.14% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the stock. Pinkerton Retirement Specialists LLC purchased a new stake in LyondellBasell Industries during the second quarter valued at approximately $103,000. Americafirst Capital Management LLC bought a new position in LyondellBasell Industries during the second quarter valued at about $106,000. Pacer Advisors Inc. increased its position in LyondellBasell Industries by 321.5% in the second quarter. Pacer Advisors Inc. now owns 1,492 shares of the company’s stock valued at $111,000 after buying an additional 1,138 shares during the last quarter. Exane Derivatives increased its position in LyondellBasell Industries by 103.6% in the second quarter. Exane Derivatives now owns 1,547 shares of the company’s stock valued at $115,000 after buying an additional 787 shares during the last quarter. Finally, J.Safra Asset Management Corp bought a new position in LyondellBasell Industries during the second quarter valued at about $129,000. Institutional investors own 68.63% of the company’s stock.
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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