Jefferies Group Comments on LyondellBasell Industries NV’s FY2019 Earnings (LYB)
LyondellBasell Industries NV (NYSE:LYB) – Investment analysts at Jefferies Group increased their FY2019 earnings per share estimates for LyondellBasell Industries in a report released on Tuesday. Jefferies Group analyst L. Alexander now expects that the specialty chemicals company will earn $9.60 per share for the year, up from their previous estimate of $8.85. Jefferies Group currently has a “Hold” rating and a $95.00 target price on the stock. Jefferies Group also issued estimates for LyondellBasell Industries’ FY2020 earnings at $10.15 EPS and FY2021 earnings at $10.95 EPS.
Several other equities analysts have also recently weighed in on the company. Vertical Research cut LyondellBasell Industries from a “buy” rating to a “hold” rating in a report on Wednesday. Citigroup raised LyondellBasell Industries from a “neutral” rating to a “buy” rating and set a $120.00 price target on the stock in a report on Monday, December 18th. 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. SunTrust Banks reaffirmed a “hold” rating and issued a $100.00 target price on shares of LyondellBasell Industries in a report on Wednesday, November 1st. Finally, Barclays raised their target price on LyondellBasell Industries from $105.00 to $115.00 and gave the stock an “overweight” rating in a report on Tuesday, October 31st. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $101.56.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 12th. Shareholders of record on Tuesday, December 5th were paid a $0.90 dividend. The ex-dividend date of this dividend was Monday, December 4th. This represents a $3.60 dividend on an annualized basis and a yield of 3.19%. LyondellBasell Industries’s payout ratio is presently 38.38%.
In other LyondellBasell Industries news, Director Jagjeet S. Bindra sold 1,574 shares of the stock in a transaction 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 Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.09% of the company’s stock.
Hedge funds have recently modified their holdings of the business. Fieldpoint Private Securities LLC purchased a new stake in LyondellBasell Industries in the 3rd quarter worth $109,000. BDO Wealth Advisors LLC increased its stake in LyondellBasell Industries by 64.5% in the 3rd quarter. BDO Wealth Advisors LLC now owns 1,785 shares of the specialty chemicals company’s stock worth $177,000 after buying an additional 700 shares in the last quarter. WESPAC Advisors SoCal LLC increased its stake in LyondellBasell Industries by 4.9% in the 2nd quarter. WESPAC Advisors SoCal LLC now owns 2,125 shares of the specialty chemicals company’s stock worth $179,000 after buying an additional 100 shares in the last quarter. Salem Investment Counselors Inc. increased its stake in LyondellBasell Industries by 80.0% in the 3rd quarter. Salem Investment Counselors Inc. now owns 1,800 shares of the specialty chemicals company’s stock worth $179,000 after buying an additional 800 shares in the last quarter. Finally, WFG Advisors LP increased its stake in LyondellBasell Industries by 66.4% in the 2nd quarter. WFG Advisors LP now owns 2,213 shares of the specialty chemicals company’s stock worth $187,000 after buying an additional 883 shares in the last quarter. Institutional investors and hedge funds own 73.94% of the company’s stock.
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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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