LyondellBasell Industries (LYB) Price Target Raised to $88.00 at Jefferies Group
LyondellBasell Industries (NYSE:LYB) had its price target upped by analysts at Jefferies Group to $88.00 in a research report issued to clients and investors on Thursday. The brokerage presently has a “hold” rating on the stock. Jefferies Group’s price target suggests a potential upside of 12.62% from the company’s current price.
Other equities research analysts have also recently issued research reports about the stock. Vetr cut shares of LyondellBasell Industries from a “strong-buy” rating to a “buy” rating and set a $84.88 target price on the stock. in a report on Monday, July 11th. Morgan Stanley reissued a “buy” rating on shares of LyondellBasell Industries in a report on Thursday, June 16th. Nomura set a $82.00 target price on shares of LyondellBasell Industries and gave the company a “hold” rating in a report on Monday, August 1st. Argus reaffirmed a “hold” rating on shares of LyondellBasell Industries in a report on Thursday, August 18th. Finally, Deutsche Bank AG upped their price target on shares of LyondellBasell Industries from $80.00 to $83.00 and gave the stock a “hold” rating in a report on Tuesday, September 13th. Three research analysts have rated the stock with a sell rating, eleven have given a hold rating and four have given a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $88.86.
Shares of LyondellBasell Industries (NYSE:LYB) opened at 78.14 on Thursday. LyondellBasell Industries has a 12-month low of $69.10 and a 12-month high of $98.25. The company’s 50 day moving average price is $77.33 and its 200 day moving average price is $80.67. The firm has a market cap of $32.48 billion, a P/E ratio of 8.44 and a beta of 1.71.
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LyondellBasell Industries (NYSE:LYB) last posted its quarterly earnings results on Friday, July 29th. The company reported $2.45 EPS for the quarter, missing analysts’ consensus estimates of $2.51 by $0.06. The company earned $7.33 billion during the quarter, compared to the consensus estimate of $7.64 billion. LyondellBasell Industries had a return on equity of 66.25% and a net margin of 13.91%. The company’s revenue for the quarter was down 19.9% compared to the same quarter last year. During the same period last year, the firm posted $2.81 EPS. Equities research analysts forecast that LyondellBasell Industries will post $9.61 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, September 6th. Stockholders of record on Tuesday, August 16th were issued a dividend of $0.85 per share. The ex-dividend date was Friday, August 12th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 4.35%. LyondellBasell Industries’s dividend payout ratio is currently 36.68%.
In other news, Director Jagjeet S. Bindra sold 3,750 shares of the 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.14% of the company’s stock.
Several hedge funds have recently bought and sold shares of LYB. Pinkerton Retirement Specialists LLC purchased a new stake in LyondellBasell Industries during the second quarter worth $103,000. Americafirst Capital Management LLC purchased a new stake in LyondellBasell Industries during the second quarter worth $106,000. Pacer Advisors Inc. raised its stake in LyondellBasell Industries by 321.5% in the second quarter. Pacer Advisors Inc. now owns 1,492 shares of the company’s stock worth $111,000 after buying an additional 1,138 shares in the last quarter. Exane Derivatives raised its stake in LyondellBasell Industries by 103.6% in the second quarter. Exane Derivatives now owns 1,547 shares of the company’s stock worth $115,000 after buying an additional 787 shares in the last quarter. Finally, J.Safra Asset Management Corp purchased a new stake in LyondellBasell Industries during the second quarter worth $129,000. Institutional investors own 71.62% of the company’s stock.
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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