LyondellBasell Industries NV (NYSE:LYB) Receives Average Rating of “Hold” from Analysts
Shares of LyondellBasell Industries NV (NYSE:LYB) have been given a consensus recommendation of “Hold” by the nineteen brokerages that are covering the stock, MarketBeat Ratings reports. Three analysts have rated the stock with a sell recommendation, eight have assigned a hold recommendation and eight have given a buy recommendation to the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $94.47.
Several equities research analysts have recently commented on LYB shares. Bank of America Corporation lowered LyondellBasell Industries NV from a “buy” rating to an “underperform” rating and reduced their price objective for the stock from $98.00 to $70.00 in a research note on Monday, May 8th. Vertical Research upgraded 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. Deutsche Bank AG restated a “buy” rating and issued a $94.00 price objective (up from $90.00) on shares of LyondellBasell Industries NV in a research note on Monday. Zacks Investment Research lowered LyondellBasell Industries NV from a “hold” rating to a “sell” rating in a research note on Thursday, July 27th. Finally, Royal Bank Of Canada restated a “hold” rating and issued a $92.00 price objective on shares of LyondellBasell Industries NV in a research note on Friday, July 14th.
Shares of LyondellBasell Industries NV (LYB) traded up 0.33% during trading on Friday, hitting $89.04. The stock had a trading volume of 619,343 shares. The firm has a market capitalization of $35.24 billion, a P/E ratio of 9.94 and a beta of 1.06. LyondellBasell Industries NV has a 1-year low of $71.55 and a 1-year high of $97.64. The stock’s 50-day moving average price is $84.36 and its 200 day moving average price is $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, topping the consensus estimate of $2.68 by $0.14. The firm had revenue of $8.40 billion during the quarter, compared to analyst estimates of $8.52 billion. LyondellBasell Industries NV had a return on equity of 60.87% and a net margin of 11.40%. LyondellBasell Industries NV’s revenue was up 14.7% on a year-over-year basis. During the same period in the prior year, the business posted $2.56 EPS. On average, analysts anticipate that LyondellBasell Industries NV will post $9.84 earnings per share for the current year.
LyondellBasell Industries NV declared that its board has approved a stock repurchase plan on Wednesday, May 24th that authorizes the company to buyback 1,000% of shares. This buyback authorization authorizes the specialty chemicals company to reacquire shares of its stock through open market purchases. Shares buyback plans are generally a sign that the company’s leadership believes its shares are undervalued.
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In other LyondellBasell Industries NV news, Director Jagjeet S. Bindra sold 3,224 shares of the stock in a transaction dated 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 filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.14% of the stock is owned by corporate insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. increased its position in LyondellBasell Industries NV by 2,032.9% in the first quarter. BlackRock Inc. now owns 20,062,376 shares of the specialty chemicals company’s stock valued at $1,829,488,000 after buying an additional 19,121,769 shares during the period. FMR LLC increased its position in LyondellBasell Industries NV by 20.7% in the first quarter. FMR LLC now owns 29,128,736 shares of the specialty chemicals company’s stock valued at $2,656,249,000 after buying an additional 4,990,465 shares during the period. Beutel Goodman & Co Ltd. bought a new position in LyondellBasell Industries NV during the second quarter valued at approximately $102,907,000. Schroder Investment Management Group increased its position in LyondellBasell Industries NV by 31.8% in the first quarter. Schroder Investment Management Group now owns 3,082,478 shares of the specialty chemicals company’s stock valued at $281,337,000 after buying an additional 743,569 shares during the period. Finally, Vanguard Group Inc. increased its position in LyondellBasell Industries NV by 2.5% in the first quarter. Vanguard Group Inc. now owns 24,056,326 shares of the specialty chemicals company’s stock valued at $2,193,697,000 after buying an additional 587,985 shares during the period. 73.27% of the stock is owned by institutional investors and hedge funds.
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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