UBS AG reaffirmed their neutral rating on shares of LyondellBasell Industries NV (NYSE:LYB) in a research report released on Monday, July 31st, www.flashratings.com reports. UBS AG currently has a $88.00 price objective on the specialty chemicals company’s stock, up from their prior price objective of $85.00.
Several other 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 stock from $98.00 to $70.00 in a research report 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 on the stock in a research report 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 on the stock in a research report on Monday, May 1st. Citigroup Inc. reaffirmed an overweight rating on shares of LyondellBasell Industries NV in a research report on Friday, April 14th. Finally, Sanford C. Bernstein reaffirmed an outperform rating and issued a $110.00 price objective on shares of LyondellBasell Industries NV in a research report on Wednesday, June 28th. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have given a buy rating to the company. LyondellBasell Industries NV has a consensus rating of Hold and a consensus price target of $94.81.
LyondellBasell Industries NV (LYB) traded down 0.47% during midday trading on Monday, hitting $87.19. The stock had a trading volume of 1,893,185 shares. The company has a market cap of $34.51 billion, a P/E ratio of 9.73 and a beta of 1.06. LyondellBasell Industries NV has a one year low of $74.02 and a one year high of $97.64. The stock’s 50-day moving average is $86.13 and its 200-day moving average is $86.89.
LyondellBasell Industries NV (NYSE:LYB) last released its quarterly earnings results on Friday, July 28th. The specialty chemicals company reported $2.82 earnings per share for the quarter, topping the 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 for the quarter, compared to analysts’ expectations of $8.52 billion. During the same period in the previous year, the company earned $2.56 earnings per share. The firm’s revenue for the quarter was up 14.7% compared to the same quarter last year. Equities analysts predict that LyondellBasell Industries NV will post $9.89 EPS for the current fiscal year.
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LyondellBasell Industries NV announced that its board has approved a share buyback plan on Wednesday, May 24th that permits the company to buyback 1,000% of shares. This buyback authorization permits the specialty chemicals company to repurchase shares of its stock through open market purchases. Stock buyback plans are often a sign that the company’s leadership believes its stock is undervalued.
In related news, Director Jagjeet S. Bindra sold 3,224 shares of the company’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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.14% of the company’s stock.
Large investors have recently bought and sold shares of the stock. Quadrature Capital Ltd purchased a new stake in LyondellBasell Industries NV during the fourth quarter worth approximately $546,000. Teachers Advisors LLC raised 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 in the last quarter. Franklin Street Advisors Inc. NC raised 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 in the last quarter. Chevy Chase Trust Holdings Inc. raised its position in shares of 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 valued at $26,085,000 after buying an additional 5,292 shares during the period. Finally, Manning & Napier Advisors LLC raised its position in shares of 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 valued at $6,174,000 after buying an additional 3,864 shares during the period. Institutional investors own 74.76% of the company’s stock.
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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