LyondellBasell Industries NV’s (LYB) Hold Rating Reaffirmed at Cowen and Company
Cowen and Company reissued their hold rating on shares of LyondellBasell Industries NV (NYSE:LYB) in a research note issued to investors on Wednesday morning. They currently have a $90.00 price objective on the specialty chemicals company’s stock.
Several other equities research analysts have also weighed in on the company. SunTrust Banks, Inc. reaffirmed a hold rating and issued a $96.00 target price (up from $90.00) on shares of LyondellBasell Industries NV in a research report on Saturday, September 30th. Nomura reaffirmed a hold rating and issued a $99.00 target price (up from $90.00) on shares of LyondellBasell Industries NV in a research report on Tuesday, September 26th. ValuEngine raised LyondellBasell Industries NV from a buy rating to a strong-buy rating in a research report on Wednesday, September 6th. Jefferies Group LLC set a $88.00 target price on LyondellBasell Industries NV and gave the stock a hold rating in a research report on Monday, August 21st. Finally, BidaskClub lowered LyondellBasell Industries NV from a hold rating to a sell rating in a research report on Tuesday, August 1st. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of Hold and a consensus target price of $94.33.
Shares of LyondellBasell Industries NV (LYB) traded up 0.61% during trading on Wednesday, hitting $99.48. 2,182,141 shares of the stock were exchanged. The company has a market cap of $39.37 billion, a price-to-earnings ratio of 11.11 and a beta of 1.04. The firm has a 50 day moving average of $93.46 and a 200-day moving average of $87.01. LyondellBasell Industries NV has a 12-month low of $76.71 and a 12-month high of $100.74.
LyondellBasell Industries NV (NYSE:LYB) last issued its earnings results on Friday, July 28th. The specialty chemicals company reported $2.82 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.68 by $0.14. LyondellBasell Industries NV had a return on equity of 60.87% and a net margin of 11.40%. The firm had revenue of $8.40 billion for the quarter, compared to analyst estimates of $8.52 billion. During the same period last year, the company earned $2.56 earnings per share. The firm’s revenue for the quarter was up 14.7% on a year-over-year basis. On average, analysts forecast that LyondellBasell Industries NV will post $9.92 earnings per share for the current year.
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The company also recently announced a quarterly dividend, which was paid on Wednesday, September 13th. Investors of record on Wednesday, September 6th were paid a dividend of $0.90 per share. The ex-dividend date of this dividend was Friday, September 1st. This represents a $3.60 annualized dividend and a yield of 3.62%. LyondellBasell Industries NV’s dividend payout ratio is currently 40.18%.
In related news, Director Jagjeet S. Bindra sold 3,224 shares of the firm’s stock in a transaction dated Tuesday, August 1st. The stock was 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 is accessible through this link. Company insiders own 0.09% of the company’s stock.
Hedge funds have recently made changes to their positions in the stock. BlackRock Inc. boosted its stake in LyondellBasell Industries NV by 11.6% during the second quarter. BlackRock Inc. now owns 22,389,726 shares of the specialty chemicals company’s stock valued at $1,889,470,000 after buying an additional 2,327,350 shares in the last quarter. FMR LLC boosted its stake in LyondellBasell Industries NV by 20.7% during the first quarter. FMR LLC now owns 29,128,736 shares of the specialty chemicals company’s stock valued at $2,656,249,000 after buying an additional 4,990,465 shares in the last quarter. Brookstone Capital Management boosted its stake in LyondellBasell Industries NV by 8.7% during the second quarter. Brookstone Capital Management now owns 70,061 shares of the specialty chemicals company’s stock valued at $5,912,000 after buying an additional 5,624 shares in the last quarter. Ray Gerald L & Associates Ltd. boosted its stake in LyondellBasell Industries NV by 84.9% during the second quarter. Ray Gerald L & Associates Ltd. now owns 4,900 shares of the specialty chemicals company’s stock valued at $414,000 after buying an additional 2,250 shares in the last quarter. Finally, Artemis Investment Management LLP bought a new position in LyondellBasell Industries NV during the second quarter valued at about $13,041,000. 73.81% of the stock is owned by institutional investors and hedge funds.
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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