LyondellBasell Industries NV (LYB) Rating Reiterated by Nomura
LyondellBasell Industries NV (NYSE:LYB)‘s stock had its “hold” rating reaffirmed by equities researchers at Nomura in a research note issued to investors on Tuesday. They currently have a $99.00 target price on the specialty chemicals company’s stock, up from their prior target price of $90.00. Nomura’s price target indicates a potential downside of 0.78% from the company’s current price.
Other equities analysts also recently issued research reports about the company. HSBC Holdings plc started coverage on LyondellBasell Industries NV in a research report on Monday, June 26th. They issued a “buy” rating and a $101.00 target price on the stock. Deutsche Bank AG reaffirmed a “buy” rating and issued a $94.00 target price (up previously from $90.00) on shares of LyondellBasell Industries NV in a research report on Monday, July 31st. Royal Bank Of Canada reaffirmed a “hold” rating and issued a $92.00 target price on shares of LyondellBasell Industries NV in a research report on Friday, July 14th. BidaskClub upgraded LyondellBasell Industries NV from a “sell” rating to a “hold” rating in a research note on Tuesday, July 11th. Finally, Jefferies Group LLC reiterated a “hold” rating and issued a $88.00 price target on shares of LyondellBasell Industries NV in a research note on Friday, June 16th. Three analysts have rated the stock with a sell rating, seven have issued a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. LyondellBasell Industries NV has a consensus rating of “Hold” and a consensus price target of $95.88.
Shares of LyondellBasell Industries NV (LYB) opened at 99.78 on Tuesday. The company has a market cap of $39.49 billion, a P/E ratio of 11.14 and a beta of 1.04. LyondellBasell Industries NV has a 12 month low of $75.76 and a 12 month high of $100.69. The firm has a 50 day moving average price of $90.28 and a 200-day moving average price of $86.32.
LyondellBasell Industries NV (NYSE:LYB) last posted its earnings results on Friday, July 28th. The specialty chemicals company reported $2.82 EPS for the quarter, beating the consensus estimate of $2.68 by $0.14. LyondellBasell Industries NV had a return on equity of 60.87% and a net margin of 11.40%. The company had revenue of $8.40 billion for the quarter, compared to the consensus estimate of $8.52 billion. During the same quarter in the prior year, the business earned $2.56 earnings per share. The firm’s revenue for the quarter was up 14.7% on a year-over-year basis. Analysts anticipate that LyondellBasell Industries NV will post $9.91 earnings per share for the current fiscal year.
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In other LyondellBasell Industries NV news, Director Jagjeet S. Bindra sold 3,224 shares of the company’s stock in a transaction on Tuesday, August 1st. The stock was 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 Securities & Exchange Commission, which is available through this hyperlink. 0.09% of the stock is owned by corporate insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Harbour Capital Advisors LLC bought a new stake in LyondellBasell Industries NV during the first quarter worth $107,000. Point72 Asia Hong Kong Ltd bought a new stake in LyondellBasell Industries NV during the first quarter worth $132,000. American Beacon Advisors Inc. bought a new stake in LyondellBasell Industries NV during the first quarter worth $161,000. Seven Bridges Advisors LLC lifted its stake in LyondellBasell Industries NV by 32.8% during the second quarter. Seven Bridges Advisors LLC now owns 1,936 shares of the specialty chemicals company’s stock worth $163,000 after purchasing an additional 478 shares during the last quarter. Finally, WESPAC Advisors SoCal LLC lifted its stake in LyondellBasell Industries NV by 4.9% during the second quarter. WESPAC Advisors SoCal LLC now owns 2,125 shares of the specialty chemicals company’s stock worth $179,000 after purchasing an additional 100 shares during the last quarter. Hedge funds and other institutional investors own 73.81% of the company’s stock.
LyondellBasell Industries NV Company Profile
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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