According to Zacks, “LyondellBasell remains on track with its expansion projects that are expected to boost capacity and add to its earnings. The company also remains committed to boosting shareholder returns by leveraging healthy cash flows. Moreover, the company is executing its expansion projects to leverage the U.S. natural gas liquids (NGLs) advantage. However, LyondellBasell is exposed to headwind from weak product prices. Depressed crude oil prices may also hurt its margins moving ahead. Moreover, its operations are subject to maintenance outages.”
A number of other equities research analysts also recently weighed in on the company. Vetr raised LyondellBasell Industries from a buy rating to a strong-buy rating and set a $84.88 price objective on the stock in a research report on Monday, August 1st. Barclays PLC dropped their price objective on LyondellBasell Industries from $99.00 to $95.00 and set an overweight rating on the stock in a research report on Tuesday, August 2nd. Susquehanna dropped their price objective on LyondellBasell Industries from $100.00 to $96.00 and set a positive rating on the stock in a research report on Friday, August 26th. Jefferies Group reaffirmed a neutral rating on shares of LyondellBasell Industries in a research report on Tuesday, September 6th. Finally, Royal Bank Of Canada downgraded LyondellBasell Industries from an outperform rating to a sector perform rating and dropped their price objective for the company from $100.00 to $84.00 in a research report on Monday, June 27th. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and four have issued a buy rating to the stock. LyondellBasell Industries currently has a consensus rating of Hold and an average price target of $89.87.
LyondellBasell Industries (NYSE:LYB) traded up 0.92% during midday trading on Friday, hitting $82.19. The company’s stock had a trading volume of 1,041,892 shares. LyondellBasell Industries has a one year low of $69.10 and a one year high of $97.20. The company’s 50-day moving average is $78.77 and its 200 day moving average is $80.25. The company has a market cap of $34.17 billion, a price-to-earnings ratio of 8.88 and a beta of 1.46.
LyondellBasell Industries (NYSE:LYB) last posted its quarterly earnings results on Friday, July 29th. The company reported $2.45 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.51 by $0.06. LyondellBasell Industries had a return on equity of 66.25% and a net margin of 13.91%. The firm had revenue of $7.33 billion for the quarter, compared to the consensus estimate of $7.64 billion. During the same period in the previous year, the company posted $2.81 EPS. LyondellBasell Industries’s quarterly revenue was down 19.9% compared to the same quarter last year. On average, analysts predict that LyondellBasell Industries will post $9.61 EPS for the current year.
In related news, Director Jagjeet S. Bindra sold 3,750 shares of LyondellBasell Industries stock in a transaction that occurred on Tuesday, August 30th. The stock was sold at an average price of $80.01, for a total transaction of $300,037.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.14% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in LYB. Pinkerton Retirement Specialists LLC acquired a new stake in shares of LyondellBasell Industries during the second quarter valued at approximately $103,000. Americafirst Capital Management LLC acquired a new stake in shares of LyondellBasell Industries during the second quarter valued at approximately $106,000. Pacer Advisors Inc. raised its stake in shares of LyondellBasell Industries by 321.5% in the second quarter. Pacer Advisors Inc. now owns 1,492 shares of the company’s stock valued at $111,000 after buying an additional 1,138 shares during the last quarter. Exane Derivatives raised its stake in shares of LyondellBasell Industries by 103.6% in the second quarter. Exane Derivatives now owns 1,547 shares of the company’s stock valued at $115,000 after buying an additional 787 shares during the last quarter. Finally, J.Safra Asset Management Corp acquired a new stake in shares of LyondellBasell Industries during the second quarter valued at approximately $129,000. Institutional investors own 71.63% of the company’s stock.
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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