LyondellBasell Industries (LYB) Now Covered by Analysts at Tudor Pickering
Stock analysts at Tudor Pickering began coverage on shares of LyondellBasell Industries (NYSE:LYB) in a research report issued on Thursday, The Fly reports. The firm set a “buy” rating on the stock.
Several other equities research analysts have also issued reports on LYB. Morgan Stanley reiterated a “buy” rating on shares of LyondellBasell Industries in a report on Thursday, June 16th. JPMorgan Chase & Co. lowered LyondellBasell Industries from an “overweight” rating to a “neutral” rating and reduced their price target for the company from $100.00 to $80.00 in a report on Thursday, June 23rd. Vetr upgraded LyondellBasell Industries from a “buy” rating to a “strong-buy” rating and set a $85.17 price target for the company in a report on Monday, June 27th. Royal Bank Of Canada lowered LyondellBasell Industries from an “outperform” rating to a “sector perform” rating and reduced their price target for the company from $100.00 to $84.00 in a report on Monday, June 27th. Finally, Jefferies Group reiterated a “hold” rating and set a $84.00 price target (down from $91.00) on shares of LyondellBasell Industries in a report on Tuesday, July 5th. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and five have assigned a buy rating to the company. LyondellBasell Industries presently has a consensus rating of “Hold” and a consensus price target of $89.87.
LyondellBasell Industries (NYSE:LYB) traded down 0.12% during trading on Thursday, hitting $79.90. The stock had a trading volume of 2,854,002 shares. The firm has a market cap of $33.22 billion, a PE ratio of 8.63 and a beta of 1.46. LyondellBasell Industries has a 52 week low of $69.10 and a 52 week high of $98.25. The company’s 50-day moving average is $78.97 and its 200 day moving average is $80.15.
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LyondellBasell Industries (NYSE:LYB) last announced its quarterly earnings results on Friday, July 29th. The company reported $2.45 earnings per share (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 firm earned $2.81 earnings per share. Equities analysts expect that LyondellBasell Industries will post $9.61 EPS for the current fiscal year.
In related news, Director Jagjeet S. Bindra sold 3,750 shares of the business’s stock in a transaction on Tuesday, August 30th. The stock was sold at an average price of $80.01, for a total value of $300,037.50. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 0.14% of the company’s stock.
A number of hedge funds have recently made changes to their positions in LYB. Credit Capital Investments LLC raised its stake in shares of LyondellBasell Industries by 21,119.3% in the second quarter. Credit Capital Investments LLC now owns 4,212,246 shares of the company’s stock valued at $4,212,000 after buying an additional 4,192,395 shares in the last quarter. Bank of Montreal Can bought a new stake in shares of LyondellBasell Industries during the second quarter valued at approximately $184,074,000. Janus Capital Management LLC raised its stake in shares of LyondellBasell Industries by 7.4% in the second quarter. Janus Capital Management LLC now owns 12,232,383 shares of the company’s stock valued at $910,334,000 after buying an additional 844,373 shares in the last quarter. Iridian Asset Management LLC CT raised its stake in shares of LyondellBasell Industries by 23.2% in the second quarter. Iridian Asset Management LLC CT now owns 4,054,132 shares of the company’s stock valued at $301,709,000 after buying an additional 762,920 shares in the last quarter. Finally, BlackRock Institutional Trust Company N.A. raised its stake in shares of LyondellBasell Industries by 6.5% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 10,262,230 shares of the company’s stock valued at $763,715,000 after buying an additional 630,125 shares in the last quarter. 71.63% 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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