LyondellBasell Industries NV (NYSE:LYB) – KeyCorp upped their Q3 2020 EPS estimates for shares of LyondellBasell Industries in a research note issued to investors on Thursday, June 25th. KeyCorp analyst A. Yefremov now expects that the specialty chemicals company will post earnings per share of $0.95 for the quarter, up from their previous estimate of $0.93. KeyCorp currently has a “Sector Weight” rating and a $46.00 price target on the stock.
Other research analysts have also issued research reports about the company. Citigroup lowered LyondellBasell Industries from a “buy” rating to a “neutral” rating and lifted their price target for the stock from $60.00 to $64.00 in a research report on Monday. Deutsche Bank raised LyondellBasell Industries from a “hold” rating to a “buy” rating and boosted their target price for the company from $60.00 to $72.00 in a report on Tuesday, May 26th. Barclays reissued a “buy” rating on shares of LyondellBasell Industries in a report on Friday, April 17th. Zacks Investment Research raised LyondellBasell Industries from a “strong sell” rating to a “hold” rating and set a $72.00 target price on the stock in a report on Wednesday, May 27th. Finally, ValuEngine lowered LyondellBasell Industries from a “hold” rating to a “sell” rating in a report on Thursday, April 2nd. Two equities research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating, five have assigned a buy rating and two have issued a strong buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $70.27.
LYB opened at $64.95 on Monday. The firm has a market cap of $21.67 billion, a price-to-earnings ratio of 8.33, a price-to-earnings-growth ratio of 1.89 and a beta of 1.55. LyondellBasell Industries has a 52 week low of $33.71 and a 52 week high of $98.91. The business’s 50 day moving average is $64.45 and its two-hundred day moving average is $69.82. The company has a quick ratio of 1.04, a current ratio of 1.76 and a debt-to-equity ratio of 1.82.
LyondellBasell Industries (NYSE:LYB) last released its quarterly earnings results on Friday, May 1st. The specialty chemicals company reported $1.47 EPS for the quarter, topping the consensus estimate of $1.36 by $0.11. The company had revenue of $7.49 billion for the quarter, compared to analyst estimates of $7.60 billion. LyondellBasell Industries had a return on equity of 36.08% and a net margin of 8.14%. The firm’s revenue was down 14.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.22 earnings per share.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in LYB. Capital International Investors raised its holdings in shares of LyondellBasell Industries by 123.1% in the first quarter. Capital International Investors now owns 24,419,983 shares of the specialty chemicals company’s stock worth $1,211,964,000 after acquiring an additional 13,474,442 shares during the last quarter. Norges Bank acquired a new position in shares of LyondellBasell Industries in the fourth quarter worth $285,621,000. APG Asset Management N.V. increased its stake in LyondellBasell Industries by 462.8% in the first quarter. APG Asset Management N.V. now owns 2,627,025 shares of the specialty chemicals company’s stock valued at $196,714,000 after purchasing an additional 2,160,251 shares during the last quarter. Prudential PLC acquired a new position in LyondellBasell Industries in the first quarter valued at $51,322,000. Finally, AQR Capital Management LLC increased its stake in LyondellBasell Industries by 119.6% in the fourth quarter. AQR Capital Management LLC now owns 1,814,543 shares of the specialty chemicals company’s stock valued at $170,730,000 after purchasing an additional 988,155 shares during the last quarter. 65.86% of the stock is owned by institutional investors.
In other news, CEO Bhavesh V. Patel bought 4,654 shares of the firm’s stock in a transaction on Monday, April 6th. The shares were bought at an average cost of $51.65 per share, for a total transaction of $240,379.10. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Daniel M. Coombs bought 4,400 shares of the firm’s stock in a transaction on Monday, May 4th. The shares were purchased at an average price of $53.28 per share, for a total transaction of $234,432.00. The disclosure for this purchase can be found here. 0.18% of the stock is currently owned by insiders.
The company also recently announced a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Monday, June 8th were given a dividend of $1.05 per share. The ex-dividend date of this dividend was Friday, June 5th. This represents a $4.20 dividend on an annualized basis and a yield of 6.47%. LyondellBasell Industries’s payout ratio is 43.66%.
About LyondellBasell Industries
LyondellBasell Industries N.V. operates as a chemical company worldwide. The company operates in six segments: Olefins and PolyolefinsAmericas; Olefins and PolyolefinsEurope, Asia, International; Intermediates and Derivatives; Advanced Polymer Solutions; Refining; and Technology. It produces and markets olefins and co-products; polyethylene products, which consist of high density polyethylene, low density polyethylene, and linear low density polyethylene; and polypropylene (PP) products, such as PP homopolymers and copolymers.
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