LyondellBasell Industries (NYSE:LYB) Shares Gap Up After Analyst Upgrade

Shares of LyondellBasell Industries NV (NYSE:LYB) gapped up prior to trading on Tuesday after Jefferies Financial Group raised their price target on the stock from $99.00 to $104.00. The stock had previously closed at $83.94, but opened at $83.65. Jefferies Financial Group currently has a buy rating on the stock. LyondellBasell Industries shares last traded at $85.06, with a volume of 2634097 shares changing hands.

LYB has been the subject of a number of other research reports. Alembic Global Advisors set a $120.00 target price on LyondellBasell Industries and gave the stock a “buy” rating in a report on Friday, April 26th. Nomura raised LyondellBasell Industries from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $87.00 to $113.00 in a research note on Monday, April 15th. Bank of America upgraded LyondellBasell Industries from an “underperform” rating to a “buy” rating and set a $105.00 price target on the stock in a report on Tuesday, April 2nd. Goldman Sachs Group upgraded LyondellBasell Industries from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $104.00 to $125.00 in a report on Wednesday, March 6th. Finally, Dougherty & Co cut LyondellBasell Industries from a “buy” rating to a “neutral” rating in a report on Friday, February 22nd. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and eleven have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $112.13.

A number of large investors have recently made changes to their positions in LYB. Vanguard Group Inc increased its position in LyondellBasell Industries by 0.7% during the third quarter. Vanguard Group Inc now owns 25,762,376 shares of the specialty chemicals company’s stock valued at $2,640,901,000 after acquiring an additional 179,076 shares during the last quarter. Deprince Race & Zollo Inc. grew its holdings in LyondellBasell Industries by 48.6% during the fourth quarter. Deprince Race & Zollo Inc. now owns 173,203 shares of the specialty chemicals company’s stock valued at $14,404,000 after purchasing an additional 56,616 shares during the period. Gantzert Investment Co. LLC ADV bought a new stake in LyondellBasell Industries during the fourth quarter valued at about $1,258,000. First Mercantile Trust Co. boosted its stake in shares of LyondellBasell Industries by 60.8% in the fourth quarter. First Mercantile Trust Co. now owns 820 shares of the specialty chemicals company’s stock worth $68,000 after acquiring an additional 310 shares during the period. Finally, Creative Planning boosted its stake in shares of LyondellBasell Industries by 7.9% in the fourth quarter. Creative Planning now owns 4,704 shares of the specialty chemicals company’s stock worth $391,000 after acquiring an additional 345 shares during the period. Institutional investors and hedge funds own 68.94% of the company’s stock.

The company has a market cap of $31.30 billion, a P/E ratio of 7.58, a P/E/G ratio of 1.05 and a beta of 1.18. The company has a quick ratio of 0.83, a current ratio of 1.47 and a debt-to-equity ratio of 0.74.

LyondellBasell Industries (NYSE:LYB) last issued its quarterly earnings data on Friday, April 26th. The specialty chemicals company reported $2.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.20 by $0.02. LyondellBasell Industries had a return on equity of 38.05% and a net margin of 11.24%. The business had revenue of $8.78 billion for the quarter, compared to the consensus estimate of $9.47 billion. During the same period in the prior year, the business posted $3.11 earnings per share. The company’s quarterly revenue was down 10.1% compared to the same quarter last year. On average, equities analysts anticipate that LyondellBasell Industries NV will post 10.35 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 17th. Investors of record on Monday, June 10th will be paid a $1.05 dividend. The ex-dividend date of this dividend is Friday, June 7th. This represents a $4.20 annualized dividend and a yield of 4.92%. This is a boost from LyondellBasell Industries’s previous quarterly dividend of $0.78. LyondellBasell Industries’s dividend payout ratio is 37.27%.

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LyondellBasell Industries Company Profile (NYSE:LYB)

LyondellBasell Industries N.V. operates as a chemical company worldwide. The company operates in six segments: Olefins and Polyolefins—Americas; Olefins and Polyolefins—Europe, 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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