LyondellBasell Industries (LYB) Shares Gap Up to $89.27

Shares of LyondellBasell Industries NV (NYSE:LYB) gapped up before the market opened on Thursday . The stock had previously closed at $87.35, but opened at $89.27. LyondellBasell Industries shares last traded at $92.53, with a volume of 3298572 shares.

A number of analysts recently issued reports on LYB shares. Citigroup increased their price target on shares of LyondellBasell Industries from $122.00 to $125.00 and gave the stock a “buy” rating in a report on Wednesday, August 15th. Zacks Investment Research raised shares of LyondellBasell Industries from a “hold” rating to a “buy” rating and set a $127.00 price target on the stock in a report on Thursday, August 9th. Standpoint Research raised shares of LyondellBasell Industries from a “hold” rating to a “buy” rating in a report on Friday, October 12th. Alembic Global Advisors set a $145.00 price target on shares of LyondellBasell Industries and gave the stock a “buy” rating in a report on Tuesday. Finally, HSBC raised shares of LyondellBasell Industries from a “hold” rating to a “buy” rating and set a $124.00 price target on the stock in a report on Friday. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and nine have given a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $117.70.

The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.51 and a current ratio of 1.82. The firm has a market cap of $34.58 billion, a PE ratio of 9.08, a price-to-earnings-growth ratio of 0.80 and a beta of 1.14.

LyondellBasell Industries (NYSE:LYB) last posted its quarterly earnings data on Tuesday, October 30th. The specialty chemicals company reported $2.96 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.68 by $0.28. The business had revenue of $10.16 billion for the quarter, compared to the consensus estimate of $9.95 billion. LyondellBasell Industries had a net margin of 15.01% and a return on equity of 47.35%. The company’s revenue was up 19.2% compared to the same quarter last year. During the same period last year, the firm posted $2.67 earnings per share. Analysts predict that LyondellBasell Industries NV will post 11.74 EPS for the current fiscal year.

A number of institutional investors and hedge funds have recently bought and sold shares of LYB. Janus Henderson Group PLC raised its position in shares of LyondellBasell Industries by 3.2% in the second quarter. Janus Henderson Group PLC now owns 5,463,921 shares of the specialty chemicals company’s stock valued at $600,212,000 after buying an additional 167,440 shares during the last quarter. Morgan Stanley raised its position in shares of LyondellBasell Industries by 9.9% in the second quarter. Morgan Stanley now owns 4,606,962 shares of the specialty chemicals company’s stock valued at $506,075,000 after buying an additional 413,346 shares during the last quarter. Bank of New York Mellon Corp raised its position in shares of LyondellBasell Industries by 1.5% in the second quarter. Bank of New York Mellon Corp now owns 4,331,592 shares of the specialty chemicals company’s stock valued at $475,825,000 after buying an additional 64,786 shares during the last quarter. Waddell & Reed Financial Inc. raised its position in shares of LyondellBasell Industries by 16.2% in the second quarter. Waddell & Reed Financial Inc. now owns 1,549,687 shares of the specialty chemicals company’s stock valued at $170,233,000 after buying an additional 215,957 shares during the last quarter. Finally, Assenagon Asset Management S.A. raised its position in shares of LyondellBasell Industries by 102.5% in the second quarter. Assenagon Asset Management S.A. now owns 1,435,668 shares of the specialty chemicals company’s stock valued at $157,708,000 after buying an additional 726,524 shares during the last quarter. 72.66% of the stock is currently owned by institutional investors and hedge funds.

About LyondellBasell Industries (NYSE:LYB)

LyondellBasell Industries N.V. operates as a chemical company worldwide. The company operates in five segments: Olefins and Polyolefins?Americas; Olefins and Polyolefins?Europe, Asia, International; Intermediates and Derivatives; Refining; and Technology. It produces and markets olefins and co-products; polyethylene products, which consist of high density polyethylene, low density polyethylene, and linear low density polyethylene; and polypropylene (PP) products, such as PP homopolymers, copolymers, and compounds.

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