LyondellBasell Industries NV (LYB) Given New $99.00 Price Target at Nomura
LyondellBasell Industries NV (NYSE:LYB) had its target price boosted by research analysts at Nomura from $90.00 to $99.00 in a report issued on Tuesday. The firm presently has a “neutral” rating on the specialty chemicals company’s stock. Nomura’s price objective points to a potential upside of 1.10% from the company’s previous close.
Other research analysts have also recently issued reports about the company. UBS AG reissued a “neutral” rating and set a $85.00 price target (down from $94.00) on shares of LyondellBasell Industries NV in a research report on Sunday, June 25th. ValuEngine raised LyondellBasell Industries NV from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, September 6th. BidaskClub raised LyondellBasell Industries NV from a “sell” rating to a “hold” rating in a research report on Tuesday, July 11th. Sanford C. Bernstein reissued an “outperform” rating and set a $110.00 price target on shares of LyondellBasell Industries NV in a research report on Wednesday, June 28th. Finally, HSBC Holdings plc began coverage on LyondellBasell Industries NV in a research report on Monday, June 26th. They set a “buy” rating and a $101.00 price target for the company. Three analysts have rated the stock with a sell rating, seven have given a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $95.88.
LyondellBasell Industries NV (LYB) traded up 1.905% during midday trading on Tuesday, reaching $99.785. The company had a trading volume of 1,649,392 shares. The company’s 50-day moving average is $90.28 and its 200 day moving average is $86.32. LyondellBasell Industries NV has a 52-week low of $75.76 and a 52-week high of $100.10. The company has a market cap of $39.50 billion, a PE ratio of 11.140 and a beta of 1.04.
LyondellBasell Industries NV (NYSE:LYB) last issued its quarterly earnings results on Friday, July 28th. The specialty chemicals company reported $2.82 EPS for the quarter, beating the consensus estimate of $2.68 by $0.14. LyondellBasell Industries NV had a return on equity of 60.87% and a net margin of 11.40%. The firm had revenue of $8.40 billion during the quarter, compared to analysts’ expectations of $8.52 billion. During the same period in the prior year, the firm posted $2.56 earnings per share. The business’s quarterly revenue was up 14.7% compared to the same quarter last year. On average, equities research analysts forecast that LyondellBasell Industries NV will post $9.91 EPS for the current year.
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In related news, Director Jagjeet S. Bindra sold 3,224 shares of LyondellBasell Industries NV stock in a transaction that occurred on 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 legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.09% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in the stock. Biltmore Wealth Management LLC lifted its holdings in LyondellBasell Industries NV by 0.4% during the 1st quarter. Biltmore Wealth Management LLC now owns 8,405 shares of the specialty chemicals company’s stock worth $766,000 after purchasing an additional 30 shares during the last quarter. First Heartland Consultants Inc. lifted its holdings in LyondellBasell Industries NV by 1.9% during the 1st quarter. First Heartland Consultants Inc. now owns 2,500 shares of the specialty chemicals company’s stock worth $228,000 after purchasing an additional 47 shares during the last quarter. Glenview Trust Co lifted its holdings in LyondellBasell Industries NV by 0.4% during the 2nd quarter. Glenview Trust Co now owns 14,051 shares of the specialty chemicals company’s stock worth $1,186,000 after purchasing an additional 50 shares during the last quarter. Kingfisher Capital LLC lifted its holdings in LyondellBasell Industries NV by 0.5% during the 2nd quarter. Kingfisher Capital LLC now owns 16,703 shares of the specialty chemicals company’s stock worth $1,410,000 after purchasing an additional 75 shares during the last quarter. Finally, CAPROCK Group Inc. lifted its holdings in LyondellBasell Industries NV by 1.0% during the 2nd quarter. CAPROCK Group Inc. now owns 8,338 shares of the specialty chemicals company’s stock worth $704,000 after purchasing an additional 79 shares during the last quarter. 73.81% of the stock is owned by institutional investors and hedge funds.
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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