LyondellBasell Industries NV (NYSE:LYB) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Thursday. The firm presently has a $110.00 price objective on the specialty chemicals company’s stock. Zacks Investment Research‘s price objective indicates a potential upside of 12.61% from the company’s previous close.
According to Zacks, “LyondellBasell has outperformed the industry it belongs to over the last three months. The company is executing its expansion projects to leverage the U.S. natural gas liquids (NGLs) advantage. LyondellBasell's ethylene expansion initiatives and the HDPE project on the U.S. Gulf Coast should boost capacity and add to its earnings. It also remains committed to boosting shareholder returns by leveraging healthy cash flows.”
LYB has been the subject of several other reports. Deutsche Bank AG restated a “buy” rating and set a $94.00 price target (up from $90.00) on shares of LyondellBasell Industries NV in a report on Monday, July 31st. Cowen and Company restated a “hold” rating and set a $90.00 price target on shares of LyondellBasell Industries NV in a report on Wednesday, October 4th. UBS AG restated a “neutral” rating and set a $85.00 price target (down from $94.00) on shares of LyondellBasell Industries NV in a report on Sunday, June 25th. HSBC Holdings plc began coverage on shares of LyondellBasell Industries NV in a report on Monday, June 26th. They set a “buy” rating and a $101.00 price target for the company. Finally, Royal Bank Of Canada restated a “hold” rating and set a $92.00 price target on shares of LyondellBasell Industries NV in a report on Friday, July 14th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $96.33.
LyondellBasell Industries NV (NYSE LYB) traded up 0.15% during trading on Thursday, reaching $97.68. 1,475,542 shares of the company’s stock were exchanged. The company’s 50 day moving average price is $95.49 and its 200-day moving average price is $87.50. The stock has a market capitalization of $38.66 billion, a price-to-earnings ratio of 10.91 and a beta of 1.04. LyondellBasell Industries NV has a 52 week low of $76.71 and a 52 week high of $100.74.
LyondellBasell Industries NV (NYSE:LYB) last posted its quarterly earnings results on Friday, July 28th. The specialty chemicals company reported $2.82 EPS for the quarter, topping the consensus estimate of $2.68 by $0.14. The business had revenue of $8.40 billion during the quarter, compared to analysts’ expectations of $8.52 billion. LyondellBasell Industries NV had a net margin of 11.40% and a return on equity of 60.87%. The firm’s quarterly revenue was up 14.7% compared to the same quarter last year. During the same period last year, the company posted $2.56 earnings per share. On average, equities analysts expect that LyondellBasell Industries NV will post $9.99 EPS for the current year.
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In other news, Director Jagjeet S. Bindra sold 3,224 shares of the business’s stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of $89.20, for a total value of $287,580.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.09% of the stock is currently owned by insiders.
Several institutional investors have recently modified their holdings of LYB. Dynamic Technology Lab Private Ltd acquired a new stake in shares of LyondellBasell Industries NV in the first quarter worth $246,000. Artisan Partners Limited Partnership lifted its stake in shares of LyondellBasell Industries NV by 14.2% in the first quarter. Artisan Partners Limited Partnership now owns 846,576 shares of the specialty chemicals company’s stock worth $77,199,000 after buying an additional 105,242 shares during the last quarter. AE Wealth Management LLC lifted its stake in shares of LyondellBasell Industries NV by 12.5% in the first quarter. AE Wealth Management LLC now owns 10,297 shares of the specialty chemicals company’s stock worth $939,000 after buying an additional 1,141 shares during the last quarter. ARGI Investment Services LLC lifted its stake in shares of LyondellBasell Industries NV by 8.0% in the first quarter. ARGI Investment Services LLC now owns 28,167 shares of the specialty chemicals company’s stock worth $2,569,000 after buying an additional 2,083 shares during the last quarter. Finally, Alliancebernstein L.P. lifted its stake in shares of LyondellBasell Industries NV by 15.7% in the first quarter. Alliancebernstein L.P. now owns 849,547 shares of the specialty chemicals company’s stock worth $77,470,000 after buying an additional 115,266 shares during the last quarter. Institutional investors and hedge funds own 73.81% of the company’s stock.
About LyondellBasell Industries NV
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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