The LyondellBasell Industries NV (LYB) Upgraded by Zacks Investment Research to “Buy”

The LyondellBasell Industries NV (LYB) Upgraded by Zacks Investment Research to “Buy”

Zacks Investment Research upgraded shares of LyondellBasell Industries NV (NYSE:LYB) from a hold rating to a buy rating in a report published on Thursday morning. The brokerage currently has $110.00 price objective on the specialty chemicals company’s stock.

According to Zacks, “LyondellBasell has outperformed the industry it belongs to over the last three months. The company is executing its expansion projects to leverage the U.S. natural gas liquids (NGLs) advantage. LyondellBasell's ethylene expansion initiatives and the HDPE project on the U.S. Gulf Coast should boost capacity and add to its earnings. It also remains committed to boosting shareholder returns by leveraging healthy cash flows.”

LYB has been the topic of several other reports. BidaskClub lowered LyondellBasell Industries NV from a hold rating to a sell rating in a research report on Tuesday, August 1st. Cowen and Company reissued a hold rating and set a $90.00 price target on shares of LyondellBasell Industries NV in a research report on Monday, August 28th. Deutsche Bank AG reissued a buy rating and set a $94.00 price target (up from $90.00) on shares of LyondellBasell Industries NV in a research report on Monday, July 31st. UBS AG reissued a neutral rating and set a $88.00 price target (up from $85.00) on shares of LyondellBasell Industries NV in a research report on Monday, July 31st. Finally, Royal Bank Of Canada reissued a hold rating and set a $92.00 price target on shares of LyondellBasell Industries NV in a research report on Friday, July 14th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of Hold and an average price target of $96.25.

Shares of LyondellBasell Industries NV (LYB) traded up 0.15% during mid-day trading on Thursday, hitting $97.68. 1,475,542 shares of the stock traded hands. The company has a market cap of $38.66 billion, a P/E ratio of 10.91 and a beta of 1.04. LyondellBasell Industries NV has a one year low of $76.71 and a one year high of $100.74. The stock has a 50 day moving average price of $95.25 and a 200-day moving average price of $87.44.

LyondellBasell Industries NV (NYSE:LYB) last released its quarterly earnings results on Friday, July 28th. The specialty chemicals company reported $2.82 EPS for the quarter, topping the consensus estimate of $2.68 by $0.14. The firm had revenue of $8.40 billion for the quarter, compared to analyst estimates of $8.52 billion. LyondellBasell Industries NV had a return on equity of 60.87% and a net margin of 11.40%. LyondellBasell Industries NV’s revenue for the quarter was up 14.7% on a year-over-year basis. During the same period in the previous year, the company posted $2.56 EPS. On average, analysts forecast that LyondellBasell Industries NV will post $9.99 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 13th. Stockholders of record on Wednesday, September 6th were issued a $0.90 dividend. The ex-dividend date of this dividend was Friday, September 1st. This represents a $3.60 dividend on an annualized basis and a dividend yield of 3.69%. LyondellBasell Industries NV’s dividend payout ratio (DPR) is 40.18%.

In other news, Director Jagjeet S. Bindra sold 3,224 shares of the business’s stock in a transaction that occurred on Tuesday, August 1st. The stock was sold at an average price of $89.20, for a total value of $287,580.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.09% of the stock is currently owned by insiders.

Several hedge funds and other institutional investors have recently modified their holdings of LYB. BlackRock Inc. increased its holdings in shares of LyondellBasell Industries NV by 2,032.9% in the 1st quarter. BlackRock Inc. now owns 20,062,376 shares of the specialty chemicals company’s stock valued at $1,829,488,000 after acquiring an additional 19,121,769 shares during the last quarter. Janus Henderson Group PLC increased its holdings in shares of LyondellBasell Industries NV by 10,925.4% in the 2nd quarter. Janus Henderson Group PLC now owns 5,067,951 shares of the specialty chemicals company’s stock valued at $427,685,000 after acquiring an additional 5,021,985 shares during the last quarter. FMR LLC increased its holdings in shares of LyondellBasell Industries NV by 20.7% in the 1st quarter. FMR LLC now owns 29,128,736 shares of the specialty chemicals company’s stock valued at $2,656,249,000 after acquiring an additional 4,990,465 shares during the last quarter. Capital World Investors increased its holdings in shares of LyondellBasell Industries NV by 23.0% in the 2nd quarter. Capital World Investors now owns 19,562,100 shares of the specialty chemicals company’s stock valued at $1,650,846,000 after acquiring an additional 3,651,750 shares during the last quarter. Finally, Beutel Goodman & Co Ltd. bought a new stake in shares of LyondellBasell Industries NV in the 2nd quarter valued at approximately $102,907,000. Institutional investors and hedge funds own 73.81% of the company’s stock.

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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