Morgan Stanley Reiterates “$115.00” Price Target for LyondellBasell Industries (LYB)
Several other research analysts have also recently issued reports on LYB. Cowen and Company cut LyondellBasell Industries from an outperform rating to a market perform rating and dropped their target price for the stock from $105.00 to $87.00 in a research report on Monday, June 13th. JPMorgan Chase & Co. cut LyondellBasell Industries from an overweight rating to a neutral rating and lowered their price objective for the company from $100.00 to $80.00 in a research report on Thursday, June 23rd. Vetr raised LyondellBasell Industries from a buy rating to a strong-buy rating and set a $85.17 price objective on the stock in a research report on Monday, June 27th. Royal Bank Of Canada cut LyondellBasell Industries from an outperform rating to a sector perform rating and lowered their price objective for the company from $100.00 to $84.00 in a research report on Monday, June 27th. Finally, Jefferies Group reaffirmed a hold rating and set a $84.00 price objective (down from $91.00) on shares of LyondellBasell Industries in a research report on Tuesday, July 5th. Three research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and four have assigned a buy rating to the company. The stock currently has an average rating of Hold and an average target price of $90.60.
Shares of LyondellBasell Industries (NYSE:LYB) opened at 80.66 on Wednesday. The stock has a market cap of $33.53 billion, a price-to-earnings ratio of 8.71 and a beta of 1.46. LyondellBasell Industries has a 52 week low of $69.10 and a 52 week high of $98.25. The firm has a 50-day moving average price of $78.12 and a 200 day moving average price of $80.43.
LyondellBasell Industries (NYSE:LYB) last announced its earnings results on Friday, July 29th. The company reported $2.45 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.51 by $0.06. The firm earned $7.33 billion during 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 company’s revenue for the quarter was down 19.9% on a year-over-year basis. During the same period in the previous year, the business posted $2.81 earnings per share. On average, analysts forecast that LyondellBasell Industries will post $9.61 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 6th. Shareholders of record on Tuesday, August 16th were paid a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a yield of 4.22%. The ex-dividend date was Friday, August 12th. LyondellBasell Industries’s payout ratio is 36.68%.
In other LyondellBasell Industries 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 value of $300,037.50. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 0.14% of the stock is owned by company insiders.
Hedge funds have recently added to or reduced their stakes in the company. Pinkerton Retirement Specialists LLC bought a new position in LyondellBasell Industries during the second quarter valued at $103,000. Americafirst Capital Management LLC bought a new position in LyondellBasell Industries during the second quarter valued at $106,000. Pacer Advisors Inc. increased its position in 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 in the last quarter. Exane Derivatives increased its position in 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 in the last quarter. Finally, J.Safra Asset Management Corp bought a new position in LyondellBasell Industries during the second quarter valued at $129,000. 71.62% of the stock is currently owned by institutional investors and hedge funds.
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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