Alembic Global Advisors set a $0.00 price objective on LyondellBasell Industries NV (NYSE:LYB) in a research note released on Friday, July 28th. The brokerage currently has a buy rating on the specialty chemicals company’s stock.

A number of other brokerages also recently issued reports on LYB. Instinet reduced their price objective on shares of LyondellBasell Industries NV from $91.00 to $90.00 and set a neutral rating on the stock in a research report on Monday, May 1st. Zacks Investment Research downgraded shares of LyondellBasell Industries NV from a hold rating to a sell rating in a research report on Thursday, July 27th. Citigroup Inc. reaffirmed an overweight rating on shares of LyondellBasell Industries NV in a research report on Friday, April 14th. Sanford C. Bernstein reaffirmed an outperform rating and issued a $110.00 target price on shares of LyondellBasell Industries NV in a research report on Wednesday, June 28th. Finally, Bank of America Corporation downgraded shares of LyondellBasell Industries NV from a buy rating to an underperform rating and reduced their target price for the stock from $98.00 to $70.00 in a research report on Monday, May 8th. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have assigned a buy rating to the company’s stock. The company presently has an average rating of Hold and a consensus target price of $94.81.

Shares of LyondellBasell Industries NV (NYSE LYB) opened at 89.12 on Friday. LyondellBasell Industries NV has a 1-year low of $71.55 and a 1-year high of $97.64. The company has a 50 day moving average of $84.36 and a 200 day moving average of $86.92. The company has a market cap of $35.27 billion, a PE ratio of 9.95 and a beta of 1.06.

LyondellBasell Industries NV (NYSE:LYB) last issued its earnings results 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 company had revenue of $8.40 billion for the quarter, compared to the consensus estimate of $8.52 billion. LyondellBasell Industries NV had a net margin of 11.40% and a return on equity of 60.87%. The firm’s revenue for the quarter was up 14.7% on a year-over-year basis. During the same period in the previous year, the firm earned $2.56 earnings per share. Equities analysts expect that LyondellBasell Industries NV will post $9.88 earnings per share for the current fiscal year.

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LyondellBasell Industries NV announced that its Board of Directors has initiated a share 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 repurchase shares of its stock through open market purchases. Shares buyback plans are generally an indication that the company’s board of directors believes its stock is undervalued.

In other LyondellBasell Industries NV news, Director Jagjeet S. Bindra sold 3,224 shares of the 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.14% of the company’s stock.

A number of large investors have recently made changes to their positions in LYB. Oliver Luxxe Assets LLC raised its stake in shares of LyondellBasell Industries NV by 3.8% in the first quarter. Oliver Luxxe Assets LLC now owns 8,171 shares of the specialty chemicals company’s stock worth $745,000 after buying an additional 297 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 worth $2,656,249,000 after buying an additional 4,990,465 shares in the last quarter. Advisory Services Network LLC purchased a new position in LyondellBasell Industries NV during the first quarter worth approximately $1,746,000. 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 worth $1,829,488,000 after buying an additional 19,121,769 shares in the last quarter. Finally, South Dakota Investment Council increased its position in LyondellBasell Industries NV by 1.7% in the first quarter. South Dakota Investment Council now owns 140,481 shares of the specialty chemicals company’s stock worth $12,810,000 after buying an additional 2,400 shares in the last quarter. 74.76% 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.

Analyst Recommendations for LyondellBasell Industries NV (NYSE:LYB)

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