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.
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%.
ILLEGAL ACTIVITY NOTICE: “LyondellBasell Industries (NYSE:LYB) Shares Gap Up After Analyst Upgrade” was first posted by Chaffey Breeze and is the sole property of of Chaffey Breeze. If you are reading this article on another publication, it was illegally copied and reposted in violation of US & international trademark and copyright legislation. The legal version of this article can be viewed at https://www.chaffeybreeze.com/2019/06/13/lyondellbasell-industries-nyselyb-shares-gap-up-after-analyst-upgrade.html.
LyondellBasell Industries Company Profile (NYSE:LYB)
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.
Read More: Trading Options- What is a Strangle?
Receive News & Ratings for LyondellBasell Industries Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for LyondellBasell Industries and related companies with MarketBeat.com's FREE daily email newsletter.