LyondellBasell Industries (LYB) Upgraded to “Buy” by Zacks Investment Research
Zacks Investment Research upgraded shares of LyondellBasell Industries (NYSE:LYB) from a hold rating to a buy rating in a report published on Tuesday. Zacks Investment Research currently has $128.00 price target on the specialty chemicals company’s stock.
According to Zacks, “Estimates for the full year for LyondellBasell have been stable lately. LyondellBasell has outperformed the industry it belongs to over the last three months. LyondellBasell's ethylene expansion initiatives and the HDPE project should boost capacity and add to its earnings. The company also remains committed to boosting shareholder returns. The company has a mixed record of earnings surprises in the last few quarters.”
Other equities analysts have also issued research reports about the stock. Citigroup upgraded shares of LyondellBasell Industries from a neutral rating to a buy rating and set a $120.00 price target on the stock in a report on Monday, December 18th. Morgan Stanley set a $115.00 price target on shares of LyondellBasell Industries and gave the company a buy rating in a report on Saturday, December 2nd. Jefferies Group reiterated a hold rating and issued a $95.00 price target (up previously from $88.00) on shares of LyondellBasell Industries in a report on Tuesday, October 10th. lowered shares of LyondellBasell Industries from a buy rating to a hold rating and set a $101.00 price target on the stock. in a report on Tuesday, October 10th. Finally, Cowen reiterated a hold rating and issued a $90.00 price target on shares of LyondellBasell Industries in a report on Wednesday, October 4th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of Hold and an average target price of $102.56.
Shares of LyondellBasell Industries (NYSE LYB) traded down $0.02 on Tuesday, hitting $117.68. 2,070,462 shares of the company’s stock were exchanged, compared to its average volume of 1,760,000. The firm has a market cap of $46,420.00, a price-to-earnings ratio of 12.55, a PEG ratio of 1.39 and a beta of 1.08. LyondellBasell Industries has a 52 week low of $78.01 and a 52 week high of $118.00. The company has a debt-to-equity ratio of 1.16, a quick ratio of 1.49 and a current ratio of 2.40.
In other news, Director Jagjeet S. Bindra sold 1,574 shares of the firm’s stock in a transaction on Tuesday, October 31st. The shares were sold at an average price of $103.73, for a total value of $163,271.02. The sale was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 0.09% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in LYB. Fieldpoint Private Securities LLC purchased a new stake in LyondellBasell Industries during the 3rd quarter worth $109,000. BDO Wealth Advisors LLC increased its stake in LyondellBasell Industries by 64.5% during the 3rd quarter. BDO Wealth Advisors LLC now owns 1,785 shares of the specialty chemicals company’s stock worth $177,000 after buying an additional 700 shares during the period. WESPAC Advisors SoCal LLC increased its stake in LyondellBasell Industries by 4.9% during the 2nd quarter. WESPAC Advisors SoCal LLC now owns 2,125 shares of the specialty chemicals company’s stock worth $179,000 after buying an additional 100 shares during the period. Salem Investment Counselors Inc. increased its stake in LyondellBasell Industries by 80.0% during the 3rd quarter. Salem Investment Counselors Inc. now owns 1,800 shares of the specialty chemicals company’s stock worth $179,000 after buying an additional 800 shares during the period. Finally, WFG Advisors LP increased its stake in LyondellBasell Industries by 66.4% during the 2nd quarter. WFG Advisors LP now owns 2,213 shares of the specialty chemicals company’s stock worth $187,000 after buying an additional 883 shares during the period. 73.94% of the stock is currently owned by hedge funds and other institutional investors.
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LyondellBasell Industries 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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