LyondellBasell Industries NV (LYB) Earns Hold Rating from Jefferies Group LLC
Jefferies Group LLC restated their hold rating on shares of LyondellBasell Industries NV (NYSE:LYB) in a report released on Tuesday. They currently have a $95.00 price target on the specialty chemicals company’s stock, up from their prior price target of $88.00. Jefferies Group also issued estimates for LyondellBasell Industries NV’s Q3 2017 earnings at $2.40 EPS, Q4 2017 earnings at $2.47 EPS, FY2017 earnings at $9.95 EPS, FY2018 earnings at $10.20 EPS, FY2019 earnings at $8.50 EPS and FY2020 earnings at $8.76 EPS.
A number of other research analysts have also recently weighed in on the stock. HSBC Holdings plc cut shares of LyondellBasell Industries NV from a buy rating to a hold rating and set a $101.00 price objective for the company. in a research note on Tuesday. Cowen and Company reissued a hold rating and set a $90.00 price objective on shares of LyondellBasell Industries NV in a research note on Wednesday, October 4th. SunTrust Banks, Inc. reissued a hold rating and set a $96.00 price objective (up from $90.00) on shares of LyondellBasell Industries NV in a research note on Saturday, September 30th. Nomura reissued a hold rating and set a $99.00 price objective (up from $90.00) on shares of LyondellBasell Industries NV in a research note on Tuesday, September 26th. Finally, ValuEngine raised shares of LyondellBasell Industries NV from a buy rating to a strong-buy rating in a research note on Wednesday, September 6th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock has a consensus rating of Hold and an average price target of $96.25.
LyondellBasell Industries NV (NYSE:LYB) traded up 0.37% during midday trading on Tuesday, reaching $97.89. The company’s stock had a trading volume of 614,615 shares. LyondellBasell Industries NV has a 52 week low of $76.71 and a 52 week high of $100.74. The firm has a market capitalization of $38.75 billion, a P/E ratio of 10.93 and a beta of 1.04. The company’s 50-day moving average is $95.25 and its 200 day moving average is $87.44.
LyondellBasell Industries NV (NYSE:LYB) last issued its quarterly earnings data on Friday, July 28th. The specialty chemicals company reported $2.82 earnings per share for the quarter, topping the Zacks’ 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 analysts’ expectations of $8.52 billion. During the same period last year, the company posted $2.56 EPS. The company’s revenue was up 14.7% on a year-over-year basis. Analysts expect that LyondellBasell Industries NV will post $9.99 earnings per share for the current fiscal year.
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The company also recently announced a quarterly dividend, which was paid on Wednesday, September 13th. Shareholders of record on Wednesday, September 6th were paid a $0.90 dividend. The ex-dividend date of this dividend was Friday, September 1st. This represents a $3.60 annualized dividend and a yield of 3.69%. LyondellBasell Industries NV’s payout ratio is currently 40.18%.
In other news, Director Jagjeet S. Bindra sold 3,224 shares of the business’s stock in a transaction 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 legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.09% of the stock is owned by insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. Fulton Bank N.A. grew its stake in shares of LyondellBasell Industries NV by 25.8% during the 3rd quarter. Fulton Bank N.A. now owns 7,042 shares of the specialty chemicals company’s stock valued at $697,000 after buying an additional 1,442 shares during the period. W. E. Donoghue & Co. LLC purchased a new stake in shares of LyondellBasell Industries NV during the 2nd quarter valued at $16,714,000. Intl Fcstone Inc. purchased a new stake in shares of LyondellBasell Industries NV during the 2nd quarter valued at $1,059,000. Navellier & Associates Inc purchased a new stake in shares of LyondellBasell Industries NV during the 2nd quarter valued at $436,000. Finally, WFG Advisors LP grew its stake in shares of LyondellBasell Industries NV by 66.4% during the 2nd quarter. WFG Advisors LP now owns 2,213 shares of the specialty chemicals company’s stock valued at $187,000 after buying an additional 883 shares during the period. 73.81% of the stock is owned by institutional investors.
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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