LyondellBasell Industries (LYB) Shares Gap Up to $77.12
LyondellBasell Industries (NYSE:LYB) gapped up before the market opened on Monday . The stock had previously closed at $76.67, but opened at $77.12. LyondellBasell Industries shares last traded at $78.35, with a volume of 1,026,083 shares trading hands.
A number of equities research analysts recently weighed in on the company. Citigroup Inc. dropped their price target on LyondellBasell Industries from $96.00 to $81.00 and set a “neutral” rating for the company in a report on Friday, July 15th. Nomura reaffirmed a “hold” rating on shares of LyondellBasell Industries in a report on Monday, July 11th. Vetr cut LyondellBasell Industries from a “buy” rating to a “hold” rating and set a $82.00 price target for the company. in a report on Monday, August 22nd. JPMorgan Chase & Co. cut LyondellBasell Industries from an “overweight” rating to a “neutral” rating and dropped their price target for the company from $100.00 to $80.00 in a report on Thursday, June 23rd. Finally, Argus reaffirmed a “hold” rating on shares of LyondellBasell Industries in a report on Thursday, August 18th. Three research analysts have rated the stock with a sell rating, ten have given a hold rating and four have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $89.08.
The firm has a 50-day moving average of $77.08 and a 200-day moving average of $80.73. The firm has a market cap of $32.61 billion, a PE ratio of 8.47 and a beta of 1.71.
LyondellBasell Industries (NYSE:LYB) last released its earnings results on Friday, July 29th. The company reported $2.45 earnings per share for the quarter, missing the consensus estimate of $2.51 by $0.06. LyondellBasell Industries had a return on equity of 66.25% and a net margin of 13.91%. The business had revenue of $7.33 billion for the quarter, compared to the consensus estimate of $7.64 billion. During the same quarter in the previous year, the company earned $2.81 earnings per share. The firm’s revenue for the quarter was down 19.9% on a year-over-year basis. Equities research analysts predict that LyondellBasell Industries will post $9.61 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 6th. Shareholders of record on Tuesday, August 16th were paid a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a yield of 4.33%. The ex-dividend date was Friday, August 12th. LyondellBasell Industries’s payout ratio is presently 36.68%.
In other LyondellBasell Industries news, Director Jagjeet S. Bindra sold 3,750 shares of the company’s stock in a transaction on Tuesday, August 30th. The stock was sold at an average price of $80.01, for a total transaction of $300,037.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.14% of the company’s stock.
Large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in shares of LyondellBasell Industries by 1.6% in the second quarter. Vanguard Group Inc. now owns 23,274,506 shares of the company’s stock valued at $1,732,089,000 after buying an additional 360,118 shares during the period. Janus Capital Management LLC increased its position in shares of LyondellBasell Industries by 7.4% in the second quarter. Janus Capital Management LLC now owns 12,232,383 shares of the company’s stock valued at $910,334,000 after buying an additional 844,373 shares during the period. BlackRock Institutional Trust Company N.A. increased its position in shares of LyondellBasell Industries by 6.5% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 10,262,230 shares of the company’s stock valued at $763,715,000 after buying an additional 630,125 shares during the period. BlackRock Fund Advisors increased its position in shares of LyondellBasell Industries by 3.4% in the second quarter. BlackRock Fund Advisors now owns 4,429,279 shares of the company’s stock valued at $329,627,000 after buying an additional 145,581 shares during the period. Finally, Credit Capital Investments LLC increased its position in shares of LyondellBasell Industries by 21,119.3% in the second quarter. Credit Capital Investments LLC now owns 4,212,246 shares of the company’s stock valued at $4,212,000 after buying an additional 4,192,395 shares during the period. Hedge funds and other institutional investors own 68.63% of the company’s stock.
LyondellBasell Industries Company Profile
LyondellBasell Industries N.V. is a global chemical company. The Company’s segments include Olefins and Polyolefins-Americas (O&P-Americas), Olefins and Polyolefins-Europe, Asia, International (O&P-EAI), Intermediates and Derivatives (I&D), Refining, and Technology. Its O&P-Americas segment produces and markets olefins, including ethylene and ethylene co-products, and polyolefins.
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