LyondellBasell Industries (LYB) Trading Down 4.5%
Shares of LyondellBasell Industries (NYSE:LYB) traded down 4.5% during mid-day trading on Friday . The company traded as low as $73.77 and last traded at $75.49, with a volume of 3,405,564 shares trading hands. The stock had previously closed at $79.02.
A number of analysts have recently issued reports on the company. Citigroup Inc. boosted their price objective on LyondellBasell Industries from $82.00 to $94.00 and gave the company a “neutral” rating in a research report on Monday, April 18th. Nomura restated a “hold” rating on shares of LyondellBasell Industries in a research report on Monday, July 11th. Goldman Sachs Group Inc. boosted their price objective on LyondellBasell Industries from $95.00 to $102.00 in a research report on Tuesday, April 12th. JPMorgan Chase & Co. cut LyondellBasell Industries from an “overweight” rating to a “neutral” rating and lowered their price target for the company from $100.00 to $80.00 in a research report on Thursday, June 23rd. Finally, Vetr cut LyondellBasell Industries from a “buy” rating to a “hold” rating and set a $92.39 price target on the stock. in a research report on Tuesday, April 19th. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and five have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $90.68.
The stock’s 50-day moving average is $77.25 and its 200 day moving average is $80.81. The stock has a market cap of $32.12 billion and a price-to-earnings ratio of 7.88.
LyondellBasell Industries (NYSE:LYB) last released its quarterly earnings results on Friday, July 29th. The company reported $2.56 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.51 by $0.05. The firm had revenue of $7.33 billion for the quarter, compared to analyst estimates of $7.64 billion. During the same period in the previous year, the business posted $2.81 earnings per share. The business’s revenue for the quarter was down 19.9% on a year-over-year basis. On average, equities research analysts forecast that LyondellBasell Industries will post $9.72 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 6th. Shareholders of record on Tuesday, August 16th will be paid a dividend of $0.85 per share. The ex-dividend date is Friday, August 12th. This represents a $3.40 dividend on an annualized basis and a yield of 4.52%.
A number of institutional investors recently bought and sold shares of LYB. Turner Investments L.P. bought a new position in LyondellBasell Industries during the fourth quarter worth approximately $1,043,000. Freestone Capital Holdings LLC raised its position in LyondellBasell Industries by 95.9% in the fourth quarter. Freestone Capital Holdings LLC now owns 12,910 shares of the company’s stock worth $1,122,000 after buying an additional 6,319 shares during the period. Whittier Trust Co. of Nevada Inc. raised its position in 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 worth $1,292,000 after buying an additional 620 shares during the period. Affinity Investment Advisors LLC raised its position in LyondellBasell Industries by 6.6% in the fourth quarter. Affinity Investment Advisors LLC now owns 15,205 shares of the company’s stock worth $1,321,000 after buying an additional 940 shares during the period. Finally, Wills Financial Group Inc. raised its position in LyondellBasell Industries by 124.6% in the fourth quarter. Wills Financial Group Inc. now owns 15,856 shares of the company’s stock worth $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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