LyondellBasell Industries (LYB) Shares Up 2.4%
LyondellBasell Industries (NYSE:LYB) shares shot up 2.4% on Thursday . The stock traded as high as $75.20 and last traded at $74.83, with a volume of 1,705,094 shares traded. The stock had previously closed at $73.11.
Several research firms have recently weighed in on LYB. Citigroup Inc. lifted their price objective on LyondellBasell Industries from $82.00 to $94.00 and gave the stock a “neutral” rating in a research report on Monday, April 18th. Goldman Sachs Group Inc. lifted their price objective on LyondellBasell Industries from $95.00 to $102.00 in a research report on Tuesday, April 12th. JPMorgan Chase & Co. lowered LyondellBasell Industries from an “overweight” rating to a “neutral” rating and lowered their price objective for the stock from $100.00 to $80.00 in a research report on Thursday, June 23rd. Vetr lowered LyondellBasell Industries from a “buy” rating to a “hold” rating and set a $92.39 price objective for the company. in a research report on Tuesday, April 19th. Finally, Jefferies Group reaffirmed a “hold” rating and issued a $84.00 target price (down from $91.00) on shares of LyondellBasell Industries in a research report on Tuesday. Three research analysts have rated the stock with a sell rating, seven have given a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $93.80.
The firm has a 50-day moving average price of $78.49 and a 200 day moving average price of $81.50. The firm has a market cap of $32.75 billion and a PE ratio of 8.04.
LyondellBasell Industries (NYSE:LYB) last issued its quarterly earnings data on Friday, April 22nd. The company reported $2.48 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.28 by $0.20. The company earned $6.74 billion during the quarter, compared to analysts’ expectations of $7.08 billion. The business’s quarterly revenue was down 17.6% on a year-over-year basis. During the same quarter last year, the business earned $2.54 earnings per share. Analysts forecast that LyondellBasell Industries will post $9.76 earnings per share for the current fiscal year.
In other LyondellBasell Industries news, SVP Massimo Covezzi sold 7,551 shares of the firm’s stock in a transaction that occurred on Tuesday, April 26th. The shares were sold at an average price of $89.14, for a total transaction of $673,096.14. Following the completion of the transaction, the senior vice president now owns 9,702 shares of the company’s stock, valued at $864,836.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.
Other large investors have recently made changes to their positions in the company. Turner Investments L.P. purchased a new stake in shares of LyondellBasell Industries during the fourth quarter valued at $1,043,000. Freestone Capital Holdings LLC increased its stake in shares of LyondellBasell Industries by 95.9% in the fourth quarter. Freestone Capital Holdings LLC now owns 12,910 shares of the company’s stock valued at $1,122,000 after buying an additional 6,319 shares during the period. Whittier Trust Co. of Nevada Inc. increased its stake in shares of LyondellBasell Industries by 4.4% in the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 14,865 shares of the company’s stock valued at $1,292,000 after buying an additional 620 shares during the period. Intrust Bank NA increased its stake in shares of LyondellBasell Industries by 6.8% in the fourth quarter. Intrust Bank NA now owns 15,307 shares of the company’s stock valued at $1,330,000 after buying an additional 968 shares during the period. Finally, Wills Financial Group Inc. increased its stake in shares of LyondellBasell Industries by 124.6% in the fourth quarter. Wills Financial Group Inc. now owns 15,856 shares of the company’s stock valued at $1,377,000 after buying an additional 8,796 shares during the period.
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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