LyondellBasell Industries (LYB) Downgraded to “Hold” at Zacks Investment Research
According to Zacks, “LyondellBasell remains on track with its expansion projects that are expected to boost capacity and add to its earnings. The company also remains committed to boosting shareholder returns by leveraging healthy cash flows. Moreover, the company is executing its expansion projects to leverage the U.S. natural gas liquids (NGLs) advantage. However, LyondellBasell is exposed to headwind from weak product prices. Depressed crude oil prices may also hurt its margins moving ahead. Moreover, its operations are subject to maintenance outages.”
A number of other equities research analysts also recently issued reports on the stock. Vetr raised shares of LyondellBasell Industries from a buy rating to a strong-buy rating and set a $85.17 price target on the stock in a report on Monday, June 27th. JPMorgan Chase & Co. downgraded shares of LyondellBasell Industries from an overweight rating to a neutral rating and lowered their price target for the stock from $100.00 to $80.00 in a report on Thursday, June 23rd. Deutsche Bank AG raised their target price on shares of LyondellBasell Industries from $80.00 to $83.00 and gave the company a hold rating in a research note on Tuesday, September 13th. Cowen and Company downgraded shares of LyondellBasell Industries from an outperform rating to a market perform rating and lowered their target price for the company from $105.00 to $87.00 in a research note on Monday, June 13th. Finally, Royal Bank Of Canada downgraded shares of LyondellBasell Industries from an outperform rating to a sector perform rating and lowered their target price for the company from $100.00 to $84.00 in a research note on Monday, June 27th. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating and four have given a buy rating to the company’s stock. The company currently has an average rating of Hold and a consensus target price of $89.87.
LyondellBasell Industries (NYSE:LYB) traded up 0.92% during midday trading on Friday, hitting $82.19. 1,041,892 shares of the stock were exchanged. The stock has a market cap of $34.17 billion, a PE ratio of 8.88 and a beta of 1.46. LyondellBasell Industries has a 1-year low of $69.10 and a 1-year high of $97.20. The company’s 50 day moving average is $78.77 and its 200-day moving average is $80.25.
LyondellBasell Industries (NYSE:LYB) last announced its quarterly earnings results on Friday, July 29th. The company reported $2.45 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.51 by $0.06. LyondellBasell Industries had a return on equity of 66.25% and a net margin of 13.91%. The firm earned $7.33 billion during the quarter, compared to analysts’ expectations of $7.64 billion. During the same period in the previous year, the company posted $2.81 earnings per share. The company’s quarterly revenue was down 19.9% compared to the same quarter last year. On average, analysts expect that LyondellBasell Industries will post $9.61 earnings per share for the current year.
In other LyondellBasell Industries news, Director Jagjeet S. Bindra sold 3,750 shares of the business’s stock in a transaction dated Tuesday, August 30th. The stock was sold at an average price of $80.01, for a total value of $300,037.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.14% of the stock is owned by company insiders.
A number of institutional investors have recently modified their holdings of the company. Ngam Advisors L.P. raised its position in shares of LyondellBasell Industries by 4.3% in the first quarter. Ngam Advisors L.P. now owns 25,379 shares of the company’s stock worth $2,172,000 after buying an additional 1,045 shares during the period. Columbia Partners L L C Investment Management increased its stake in LyondellBasell Industries by 1.1% in the first quarter. Columbia Partners L L C Investment Management now owns 12,098 shares of the company’s stock worth $1,035,000 after buying an additional 127 shares in the last quarter. American Financial Group Inc. purchased a new stake in LyondellBasell Industries during the first quarter worth about $3,423,000. Credit Capital Investments LLC purchased a new stake in LyondellBasell Industries during the first quarter worth about $1,699,000. Finally, M&T Bank Corp increased its stake in LyondellBasell Industries by 22.2% in the first quarter. M&T Bank Corp now owns 93,562 shares of the company’s stock worth $8,007,000 after buying an additional 16,989 shares in the last quarter. 71.63% of the stock is owned by institutional investors and hedge funds.
About LyondellBasell Industries
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.
Receive News & Stock Ratings for LyondellBasell Industries Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for LyondellBasell Industries and related stocks with our FREE daily email newsletter.