Jefferies Group Comments on LyondellBasell Industries NV’s FY2018 Earnings (LYB)
LyondellBasell Industries NV (NYSE:LYB) – Stock analysts at Jefferies Group upped their FY2018 earnings per share (EPS) estimates for shares of LyondellBasell Industries in a report released on Tuesday. Jefferies Group analyst L. Alexander now anticipates that the specialty chemicals company will post earnings of $10.85 per share for the year, up from their previous estimate of $10.30. Jefferies Group currently has a “Hold” rating and a $95.00 target price on the stock. Jefferies Group also issued estimates for LyondellBasell Industries’ FY2022 earnings at $11.55 EPS.
LYB has been the topic of several other reports. Cowen reaffirmed a “hold” rating and set a $90.00 target price on shares of LyondellBasell Industries in a report on Wednesday, October 4th. Morgan Stanley set a $115.00 target price on LyondellBasell Industries and gave the stock a “buy” rating in a report on Saturday, December 2nd. Citigroup raised LyondellBasell Industries from a “neutral” rating to a “buy” rating and set a $120.00 target price on the stock in a report on Monday, December 18th. UBS Group raised their target price on LyondellBasell Industries from $96.00 to $102.00 and gave the stock a “neutral” rating in a report on Monday, October 30th. Finally, Zacks Investment Research raised LyondellBasell Industries from a “hold” rating to a “buy” rating and set a $110.00 target price on the stock in a report on Thursday, October 12th. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. LyondellBasell Industries has an average rating of “Hold” and a consensus target price of $101.56.
Several large investors have recently modified their holdings of LYB. Janus Henderson Group PLC boosted its stake in shares of LyondellBasell Industries by 10,925.4% in the second quarter. Janus Henderson Group PLC now owns 5,067,951 shares of the specialty chemicals company’s stock worth $427,685,000 after acquiring an additional 5,021,985 shares during the last quarter. Capital World Investors boosted its stake in shares of LyondellBasell Industries by 23.0% in the second quarter. Capital World Investors now owns 19,562,100 shares of the specialty chemicals company’s stock worth $1,650,846,000 after acquiring an additional 3,651,750 shares during the last quarter. BlackRock Inc. boosted its stake in shares of LyondellBasell Industries by 11.6% in the second quarter. BlackRock Inc. now owns 22,389,726 shares of the specialty chemicals company’s stock worth $1,889,470,000 after acquiring an additional 2,327,350 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in shares of LyondellBasell Industries by 38.1% in the third quarter. Bank of New York Mellon Corp now owns 4,209,705 shares of the specialty chemicals company’s stock worth $416,972,000 after acquiring an additional 1,160,471 shares during the last quarter. Finally, Ameriprise Financial Inc. boosted its stake in shares of LyondellBasell Industries by 19.4% in the third quarter. Ameriprise Financial Inc. now owns 6,591,551 shares of the specialty chemicals company’s stock worth $652,840,000 after acquiring an additional 1,069,625 shares during the last quarter. 73.94% of the stock is currently owned by hedge funds and other institutional investors.
In other news, Director Jagjeet S. Bindra sold 1,574 shares of LyondellBasell Industries stock in a transaction that occurred on Tuesday, October 31st. The stock was sold at an average price of $103.73, for a total value of $163,271.02. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders own 0.09% of the company’s stock.
The company also recently declared a quarterly dividend, which was paid on Tuesday, December 12th. Stockholders of record on Tuesday, December 5th were paid a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a dividend yield of 3.22%. The ex-dividend date was Monday, December 4th. LyondellBasell Industries’s dividend payout ratio is presently 38.38%.
LyondellBasell Industries Company Profile
LyondellBasell Industries N.V. is a chemical company. The Company operates in five segments: Olefins and Polyolefins-Americas (O&P-Americas), Olefins and Polyolefins-Europe, Asia, International (O&P-EAI), Intermediates and Derivatives (I&D), Refining and Technology. The O&P-Americas segment produces and markets olefins and co-products, polyethylene and polypropylene.
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