LyondellBasell Industries (LYB) Given Average Recommendation of “Hold” by Analysts
Shares of LyondellBasell Industries (NYSE:LYB) have received an average rating of “Hold” from the nineteen brokerages that are presently covering the company. Two research analysts have rated the stock with a sell recommendation, eleven have issued a hold recommendation and five have assigned a buy recommendation to the company. The average 12-month target price among analysts that have covered the stock in the last year is $89.93.
Several research firms have issued reports on LYB. Citigroup Inc. dropped their price objective on LyondellBasell Industries from $96.00 to $81.00 and set a “neutral” rating on the stock in a research note on Friday, July 15th. Nomura reiterated a “hold” rating on shares of LyondellBasell Industries in a research note on Monday, July 11th. Vetr lowered LyondellBasell Industries from a “buy” rating to a “hold” rating and set a $82.00 target price on the stock. in a research note on Monday, August 22nd. JPMorgan Chase & Co. lowered LyondellBasell Industries from an “overweight” rating to a “neutral” rating and lowered their target price for the stock from $100.00 to $80.00 in a research note on Thursday, June 23rd. Finally, Argus reiterated a “hold” rating on shares of LyondellBasell Industries in a research note on Thursday, August 18th.
Shares of LyondellBasell Industries (NYSE:LYB) traded down 0.18% during mid-day trading on Friday, reaching $79.76. The company had a trading volume of 1,343,491 shares. LyondellBasell Industries has a 12-month low of $69.10 and a 12-month high of $98.25. The stock has a market capitalization of $33.16 billion, a P/E ratio of 8.61 and a beta of 1.46. The firm’s 50 day moving average is $78.97 and its 200-day moving average is $80.15.
LyondellBasell Industries (NYSE:LYB) last released its quarterly earnings data on Friday, July 29th. The company reported $2.45 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.51 by $0.06. The business earned $7.33 billion during the quarter, compared to the consensus estimate of $7.64 billion. LyondellBasell Industries had a net margin of 13.91% and a return on equity of 66.25%. LyondellBasell Industries’s quarterly revenue was down 19.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.81 EPS. On average, analysts expect that LyondellBasell Industries will post $9.61 earnings per share for the current fiscal year.
In related news, Director Jagjeet S. Bindra sold 3,750 shares of the firm’s stock in a transaction on Tuesday, August 30th. The stock was sold at an average price of $80.01, for a total transaction of $300,037.50. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.14% of the company’s stock.
Several large investors have recently added to or reduced their stakes in LYB. Checchi Capital Advisers LLC increased its position in shares of LyondellBasell Industries by 0.3% in the second quarter. Checchi Capital Advisers LLC now owns 2,271 shares of the company’s stock valued at $169,000 after buying an additional 7 shares during the last quarter. FirstMerit Bank N A Trustee increased its position in shares of LyondellBasell Industries by 0.6% in the second quarter. FirstMerit Bank N A Trustee now owns 5,049 shares of the company’s stock valued at $376,000 after buying an additional 28 shares during the last quarter. Bremer Trust National Association increased its position in shares of LyondellBasell Industries by 0.8% in the second quarter. Bremer Trust National Association now owns 4,053 shares of the company’s stock valued at $302,000 after buying an additional 33 shares during the last quarter. Cypress Capital Group increased its position in shares of LyondellBasell Industries by 0.4% in the first quarter. Cypress Capital Group now owns 8,160 shares of the company’s stock valued at $698,000 after buying an additional 35 shares during the last quarter. Finally, Eagle Ridge Investment Management increased its position in shares of LyondellBasell Industries by 0.6% in the second quarter. Eagle Ridge Investment Management now owns 8,615 shares of the company’s stock valued at $641,000 after buying an additional 53 shares during the last quarter. 71.63% of the stock is currently owned by institutional investors.
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.
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