LyondellBasell Industries (LYB) Coverage Initiated at Tudor Pickering
Equities researchers at Tudor Pickering initiated coverage on shares of LyondellBasell Industries (NYSE:LYB) in a note issued to investors on Thursday. The firm set a “buy” rating and a $95.00 price target on the stock. Tudor Pickering’s target price would indicate a potential upside of 19.42% from the company’s previous close.
Several other brokerages also recently commented on LYB. Zacks Investment Research downgraded shares of LyondellBasell Industries from a “buy” rating to a “hold” rating in a research note on Friday, October 7th. Morgan Stanley reissued a “buy” rating on shares of LyondellBasell Industries in a research note on Thursday, June 16th. Vetr downgraded shares of LyondellBasell Industries from a “buy” rating to a “hold” rating and set a $82.00 price objective for the company. in a research note on Monday, August 22nd. Jefferies Group reissued a “neutral” rating on shares of LyondellBasell Industries in a research note on Tuesday, September 6th. Finally, JPMorgan Chase & Co. downgraded shares of LyondellBasell Industries from an “overweight” rating to a “neutral” rating and dropped their price objective for the company from $100.00 to $80.00 in a research note on Thursday, June 23rd. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and five have given a buy rating to the company’s stock. LyondellBasell Industries presently has an average rating of “Hold” and a consensus price target of $90.19.
LyondellBasell Industries (NYSE:LYB) opened at 79.55 on Thursday. The company has a 50-day moving average of $78.99 and a 200-day moving average of $80.11. LyondellBasell Industries has a 52 week low of $69.10 and a 52 week high of $97.20. The firm has a market capitalization of $33.07 billion, a price-to-earnings ratio of 8.59 and a beta of 1.46.
LyondellBasell Industries (NYSE:LYB) last issued its quarterly earnings data on Friday, July 29th. The company reported $2.45 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $2.51 by $0.06. The company 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 revenue for the quarter was down 19.9% on a year-over-year basis. During the same period in the previous year, the company earned $2.81 EPS. On average, equities analysts forecast that LyondellBasell Industries will post $9.61 earnings per share for the current fiscal year.
In other LyondellBasell Industries news, Director Jagjeet S. Bindra sold 3,750 shares of the firm’s stock in a transaction on Tuesday, August 30th. The shares were sold at an average price of $80.01, for a total value of $300,037.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.14% of the stock is currently owned by company insiders.
A number of large investors have recently bought and sold shares of LYB. Pinkerton Retirement Specialists LLC bought a new stake in LyondellBasell Industries during the second quarter worth approximately $103,000. Americafirst Capital Management LLC bought a new stake in LyondellBasell Industries during the second quarter worth approximately $106,000. Pacer Advisors Inc. boosted its stake in LyondellBasell Industries by 321.5% in the second quarter. Pacer Advisors Inc. now owns 1,492 shares of the company’s stock worth $111,000 after buying an additional 1,138 shares during the last quarter. Exane Derivatives boosted its stake in LyondellBasell Industries by 103.6% in the second quarter. Exane Derivatives now owns 1,547 shares of the company’s stock worth $115,000 after buying an additional 787 shares during the last quarter. Finally, J.Safra Asset Management Corp bought a new stake in LyondellBasell Industries during the second quarter worth approximately $129,000. Institutional investors and hedge funds own 71.63% of the company’s stock.
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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