LyondellBasell Industries (LYB) Trading Up 2.4%
LyondellBasell Industries (NYSE:LYB) shares were 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 trading hands. The stock had previously closed at $73.11.
Several research analysts recently weighed in on LYB shares. Vetr raised shares of LyondellBasell Industries from a “buy” rating to a “strong-buy” rating and set a $85.17 target price for the company in a research note on Monday, June 27th. JPMorgan Chase & Co. downgraded shares of LyondellBasell Industries from an “overweight” rating to a “neutral” rating and cut their target price for the company from $100.00 to $80.00 in a research note on Thursday, June 23rd. Cowen and Company downgraded shares of LyondellBasell Industries from an “outperform” rating to a “market perform” rating and dropped their price objective for the company from $105.00 to $87.00 in a research note on Monday, June 13th. Morgan Stanley reaffirmed a “buy” rating on shares of LyondellBasell Industries in a research note on Thursday, June 16th. 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 research note on Monday, June 27th. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. LyondellBasell Industries presently has a consensus rating of “Hold” and an average target price of $93.80.
The firm has a 50-day moving average price of $78.82 and a 200-day moving average price of $81.63. The company has a market capitalization of $31.80 billion and a PE ratio of 7.81.
LyondellBasell Industries (NYSE:LYB) last announced its quarterly earnings data on Friday, April 22nd. The company reported $2.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.28 by $0.20. During the same period in the prior year, the company posted $2.54 earnings per share. The business earned $6.74 billion during the quarter, compared to analysts’ expectations of $7.08 billion. The firm’s revenue was down 17.6% on a year-over-year basis. On average, equities analysts forecast that LyondellBasell Industries will post $9.76 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 7th. Investors of record on Tuesday, May 24th were paid a $0.85 dividend. This is a positive change from LyondellBasell Industries’s previous quarterly dividend of $0.78. This represents a $3.40 annualized dividend and a yield of 4.56%. The ex-dividend date of this dividend was Friday, May 20th.
In related news, SVP Massimo Covezzi sold 7,551 shares of the stock in a transaction dated Tuesday, April 26th. The stock was sold at an average price of $89.14, for a total value of $673,096.14. Following the completion of the sale, the senior vice president now directly owns 9,702 shares of the company’s stock, valued at approximately $864,836.28. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.
Other large investors have recently bought and sold shares of the company. NorthCoast Asset Management LLC increased its stake in LyondellBasell Industries by 825.2% in the fourth quarter. NorthCoast Asset Management LLC now owns 684,205 shares of the company’s stock worth $59,457,000 after buying an additional 610,254 shares during the period. Winton Capital Group Ltd raised its position in shares of LyondellBasell Industries by 54.6% in the fourth quarter. Winton Capital Group Ltd now owns 1,258,141 shares of the company’s stock worth $109,332,000 after buying an additional 444,557 shares in the last quarter. BNP Paribas Arbitrage SA raised its position in shares of LyondellBasell Industries by 64.7% in the fourth quarter. BNP Paribas Arbitrage SA now owns 1,038,868 shares of the company’s stock worth $90,278,000 after buying an additional 408,173 shares in the last quarter. Boston Partners bought a new position in shares of LyondellBasell Industries during the fourth quarter worth approximately $32,838,000. Finally, WHV Investments Inc. bought a new position in shares of LyondellBasell Industries during the fourth quarter worth approximately $31,387,000.
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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