RBC Capital Markets Reaffirms “Hold” Rating for LyondellBasell Industries (LYB)
Several other research firms also recently weighed in on LYB. Vetr raised shares of LyondellBasell Industries from a buy rating to a strong-buy rating and set a $84.88 target price on the stock in a research report on Monday, August 1st. Barclays PLC dropped their target price on shares of 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 target price on shares of 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 report on Tuesday, September 6th. Finally, Royal Bank Of Canada downgraded shares of 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 report on Monday, June 27th. Three equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and four have given a buy rating to the company’s stock. The company presently has an average rating of Hold and a consensus target price of $88.86.
Shares of LyondellBasell Industries (NYSE:LYB) opened at 78.18 on Tuesday. LyondellBasell Industries has a one year low of $69.10 and a one year high of $98.25. The firm has a 50-day moving average of $77.46 and a 200-day moving average of $80.66. The company has a market capitalization of $32.50 billion, a P/E ratio of 8.44 and a beta of 1.71.
LyondellBasell Industries (NYSE:LYB) last released its earnings results on Friday, July 29th. The company reported $2.45 earnings per share for the quarter, missing the consensus estimate of $2.51 by $0.06. The company had revenue of $7.33 billion for the quarter, compared to analysts’ expectations of $7.64 billion. LyondellBasell Industries had a return on equity of 66.25% and a net margin of 13.91%. The firm’s revenue for the quarter was down 19.9% on a year-over-year basis. During the same period in the prior year, the firm posted $2.81 EPS. Analysts forecast that LyondellBasell Industries will post $9.61 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 6th. Shareholders of record on Tuesday, August 16th were given a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a yield of 4.35%. The ex-dividend date of this dividend was Friday, August 12th. LyondellBasell Industries’s dividend payout ratio is presently 36.68%.
In other news, Director Jagjeet S. Bindra sold 3,750 shares of the stock in a transaction dated Tuesday, August 30th. The shares were sold at an average price of $80.01, for a total value of $300,037.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.14% of the stock is currently owned by insiders.
Large investors have recently modified their holdings of the stock. Pinkerton Retirement Specialists LLC acquired a new stake in shares of LyondellBasell Industries during the second quarter worth approximately $103,000. Americafirst Capital Management LLC acquired a new stake in shares of LyondellBasell Industries during the second quarter worth approximately $106,000. Pacer Advisors Inc. boosted 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 worth $111,000 after buying an additional 1,138 shares during the period. Exane Derivatives boosted 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 worth $115,000 after buying an additional 787 shares during the period. Finally, J.Safra Asset Management Corp acquired a new stake in shares of LyondellBasell Industries during the second quarter worth approximately $129,000. Institutional investors and hedge funds own 71.62% of the company’s stock.
LyondellBasell Industries Company Profile
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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