Traders Sell LyondellBasell Industries (LYB) on Strength (LYB)
Investors sold shares of LyondellBasell Industries (NYSE:LYB) on strength during trading hours on Tuesday. $27.62 million flowed into the stock on the tick-up and $41.98 million flowed out of the stock on the tick-down, for a money net flow of $14.36 million out of the stock. Of all stocks tracked, LyondellBasell Industries had the 0th highest net out-flow for the day. LyondellBasell Industries traded up $0.24 for the day and closed at $78.74
LYB has been the subject of a number of research analyst reports. Citigroup Inc. lifted their price objective on shares of LyondellBasell Industries from $82.00 to $94.00 and gave the stock a “neutral” rating in a research report on Monday, April 18th. Morgan Stanley reaffirmed a “buy” rating on shares of LyondellBasell Industries in a research report on Thursday, June 16th. Nomura Holdings Inc. reaffirmed a “hold” rating on shares of LyondellBasell Industries in a research report on Monday, July 11th. Vetr raised shares of LyondellBasell Industries from a “hold” rating to a “buy” rating and set a $92.39 target price for the company in a research report on Monday, April 25th. Finally, Atlantic Securities cut shares of LyondellBasell Industries from a “neutral” rating to an “underweight” rating in a research report on Tuesday, April 5th. Three investment analysts have rated the stock with a sell rating, nine have given a hold rating and five have assigned a buy rating to the stock. LyondellBasell Industries presently has an average rating of “Hold” and an average price target of $90.56.
The firm has a market capitalization of $33.60 billion and a PE ratio of 8.25. The company has a 50-day moving average of $77.86 and a 200 day moving average of $80.98.
LyondellBasell Industries (NYSE:LYB) last announced its earnings results on Friday, April 22nd. The company reported $2.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.28 by $0.20. The business had revenue of $6.74 billion for the quarter, compared to analysts’ expectations of $7.08 billion. During the same period in the prior year, the business earned $2.54 earnings per share. The company’s revenue for the quarter was down 17.6% compared to the same quarter last year. On average, analysts forecast that LyondellBasell Industries will post $9.74 EPS for the current year.
In related news, SVP Massimo Covezzi sold 7,551 shares of LyondellBasell Industries 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 owns 9,702 shares of the company’s stock, valued at approximately $864,836.28. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.
A number of large investors have recently made changes to their positions in LYB. Tredje AP fonden raised its stake in shares of LyondellBasell Industries by 1.3% in the fourth quarter. Tredje AP fonden now owns 25,632 shares of the company’s stock valued at $2,227,000 after buying an additional 330 shares during the period. American National Bank & Trust Co. VA raised its stake in shares of LyondellBasell Industries by 1.5% in the fourth quarter. American National Bank & Trust Co. VA now owns 27,414 shares of the company’s stock valued at $2,382,000 after buying an additional 410 shares during the period. Whittier Trust Co. of Nevada Inc. raised 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. Smith Salley & Associates raised its stake in shares of LyondellBasell Industries by 1.8% in the fourth quarter. Smith Salley & Associates now owns 50,100 shares of the company’s stock valued at $4,353,000 after buying an additional 902 shares during the period. Finally, Affinity Investment Advisors LLC raised its stake in shares of LyondellBasell Industries by 6.6% in the fourth quarter. Affinity Investment Advisors LLC now owns 15,205 shares of the company’s stock valued at $1,321,000 after buying an additional 940 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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