UBS AG Reaffirms “Neutral” Rating for LyondellBasell Industries NV (LYB)
UBS AG reissued their neutral rating on shares of LyondellBasell Industries NV (NYSE:LYB) in a research report sent to investors on Monday morning, www.flashratings.com reports. UBS AG currently has a $88.00 price objective on the specialty chemicals company’s stock, up from their previous price objective of $85.00.
Several other research analysts have also commented on the stock. Bank of America Corporation lowered shares of LyondellBasell Industries NV from a buy rating to an underperform rating and lowered their price objective for the company from $98.00 to $70.00 in a research note on Monday, May 8th. Vertical Research raised shares of LyondellBasell Industries NV from a hold rating to a buy rating and set a $93.00 price objective for the company in a research note on Tuesday, May 9th. Instinet lowered their price objective on shares of LyondellBasell Industries NV from $91.00 to $90.00 and set a neutral rating for the company in a research note on Monday, May 1st. Citigroup Inc. reissued an overweight rating on shares of LyondellBasell Industries NV in a research note on Friday, April 14th. Finally, Sanford C. Bernstein reissued an outperform rating and issued a $110.00 price objective on shares of LyondellBasell Industries NV in a research note on Wednesday, June 28th. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have assigned a buy rating to the stock. LyondellBasell Industries NV presently has an average rating of Hold and an average price target of $94.81.
Shares of LyondellBasell Industries NV (NYSE LYB) traded up 0.43% during trading on Monday, hitting $88.75. 4,259,937 shares of the company’s stock were exchanged. The stock has a market cap of $35.13 billion, a P/E ratio of 9.83 and a beta of 1.05. LyondellBasell Industries NV has a one year low of $71.55 and a one year high of $97.64. The firm has a 50-day moving average price of $84.36 and a 200-day moving average price of $86.92.
LyondellBasell Industries NV (NYSE:LYB) last posted its quarterly earnings data on Friday, July 28th. The specialty chemicals company reported $2.82 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.68 by $0.14. LyondellBasell Industries NV had a net margin of 11.40% and a return on equity of 60.87%. The business had revenue of $8.40 billion during the quarter, compared to analyst estimates of $8.52 billion. During the same quarter last year, the firm posted $2.56 earnings per share. The business’s revenue for the quarter was up 14.7% compared to the same quarter last year. Equities research analysts expect that LyondellBasell Industries NV will post $9.69 EPS for the current fiscal year.
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LyondellBasell Industries NV announced that its board has authorized a share repurchase program on Wednesday, May 24th that authorizes the company to buyback 1,000% of outstanding shares. This buyback authorization authorizes the specialty chemicals company to buy shares of its stock through open market purchases. Shares buyback programs are typically an indication that the company’s management 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 that occurred on Tuesday, August 1st. The shares were 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 SEC, which is available at this hyperlink. 0.14% of the stock is currently owned by company insiders.
Hedge funds have recently added to or reduced their stakes in the company. Quadrature Capital Ltd bought a new stake in LyondellBasell Industries NV during the fourth quarter worth $546,000. Teachers Advisors LLC boosted its stake in LyondellBasell Industries NV by 9.5% in the fourth quarter. Teachers Advisors LLC now owns 729,486 shares of the specialty chemicals company’s stock worth $62,575,000 after buying an additional 63,213 shares during the last quarter. Franklin Street Advisors Inc. NC boosted its stake in LyondellBasell Industries NV by 532.9% in the first quarter. Franklin Street Advisors Inc. NC now owns 69,742 shares of the specialty chemicals company’s stock worth $6,360,000 after buying an additional 58,722 shares during the last quarter. Chevy Chase Trust Holdings Inc. boosted its stake in LyondellBasell Industries NV by 1.9% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 286,051 shares of the specialty chemicals company’s stock worth $26,085,000 after buying an additional 5,292 shares during the last quarter. Finally, Manning & Napier Advisors LLC boosted its stake in LyondellBasell Industries NV by 6.1% in the first quarter. Manning & Napier Advisors LLC now owns 67,713 shares of the specialty chemicals company’s stock worth $6,174,000 after buying an additional 3,864 shares during the last quarter. 73.27% of the stock is currently owned by institutional investors.
About LyondellBasell Industries NV
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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