LyondellBasell Industries NV (LYB) Sees Large Volume Increase
LyondellBasell Industries NV (NYSE:LYB) saw unusually-high trading volume on Friday . Approximately 7,251,700 shares traded hands during mid-day trading, an increase of 225% from the previous session’s volume of 2,232,160 shares.The stock last traded at $95.17 and had previously closed at $94.43.
LYB has been the topic of several recent research reports. Jefferies Group LLC restated a “hold” rating and issued a $88.00 price objective on shares of LyondellBasell Industries NV in a research report on Friday, June 16th. UBS AG restated a “neutral” rating and issued a $85.00 price objective (down from $94.00) on shares of LyondellBasell Industries NV in a research report on Sunday, June 25th. HSBC Holdings plc initiated coverage on LyondellBasell Industries NV in a research report on Monday, June 26th. They issued a “buy” rating and a $101.00 price objective on the stock. Sanford C. Bernstein restated an “outperform” rating and issued a $110.00 price objective on shares of LyondellBasell Industries NV in a research report on Wednesday, June 28th. Finally, BidaskClub upgraded LyondellBasell Industries NV from a “strong sell” rating to a “sell” rating in a research report on Wednesday, June 28th. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $95.67.
The stock has a market capitalization of $37.67 billion, a P/E ratio of 10.63 and a beta of 1.04. The company has a 50 day moving average of $89.93 and a 200 day moving average of $86.35.
LyondellBasell Industries NV (NYSE:LYB) last issued its earnings results on Friday, July 28th. The specialty chemicals company reported $2.82 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.68 by $0.14. The business had revenue of $8.40 billion during the quarter, compared to analysts’ expectations of $8.52 billion. LyondellBasell Industries NV had a return on equity of 60.87% and a net margin of 11.40%. LyondellBasell Industries NV’s revenue was up 14.7% compared to the same quarter last year. During the same quarter last year, the firm posted $2.56 earnings per share. Equities research analysts anticipate that LyondellBasell Industries NV will post $9.89 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 13th. Investors of record on Wednesday, September 6th were given a dividend of $0.90 per share. The ex-dividend date was Friday, September 1st. This represents a $3.60 dividend on an annualized basis and a yield of 3.78%. LyondellBasell Industries NV’s payout ratio is 40.18%.
LyondellBasell Industries NV declared that its board has authorized a stock buyback plan on Wednesday, May 24th that authorizes the company to buyback 1,000% of outstanding shares. This buyback authorization authorizes the specialty chemicals company to repurchase shares of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s board of directors believes its shares are undervalued.
In other LyondellBasell Industries NV news, Director Jagjeet S. Bindra sold 3,224 shares of the firm’s stock in a transaction dated Tuesday, August 1st. The stock was sold at an average price of $89.20, for a total transaction of $287,580.80. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.09% of the stock is owned by company insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the business. W. E. Donoghue & Co. LLC bought a new position in shares of LyondellBasell Industries NV in the second quarter worth about $16,714,000. Intl Fcstone Inc. bought a new position in shares of LyondellBasell Industries NV in the second quarter worth about $1,059,000. Navellier & Associates Inc bought a new position in shares of LyondellBasell Industries NV in the second quarter worth about $436,000. WFG Advisors LP increased its stake in shares of LyondellBasell Industries NV by 66.4% in the second quarter. WFG Advisors LP now owns 2,213 shares of the specialty chemicals company’s stock worth $187,000 after purchasing an additional 883 shares during the period. Finally, Toronto Dominion Bank increased its stake in shares of LyondellBasell Industries NV by 26.5% in the second quarter. Toronto Dominion Bank now owns 113,758 shares of the specialty chemicals company’s stock worth $9,598,000 after purchasing an additional 23,857 shares during the period. Institutional investors own 73.82% of the company’s stock.
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LyondellBasell Industries NV Company Profile
LyondellBasell Industries N.V. is a chemical company. The Company operates in five segments: Olefins and Polyolefins-Americas (O&P-Americas), Olefins and Polyolefins-Europe, Asia, International (O&P-EAI), Intermediates and Derivatives (I&D), Refining and Technology. The O&P-Americas segment produces and markets olefins and co-products, polyethylene and polypropylene.
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