LyondellBasell Industries (NYSE: LYB – Get Rating) ‘s share price hit a new 52-week low on Thursday after Royal Bank of Canada lowered their price target on the stock from $ 109.00 to $ 99.00. The company traded as low as $ 83.73 and last traded at $ 83.91, with a volume of 54462 shares. The stock had closed yesterday at $ 87.53.
LYB has been the subject of a number of other reports. Deutsche Bank Aktiengesellschaft upped their price objective on shares of LyondellBasell Industries from $ 104.00 to $ 120.00 in a research report on Thursday, May 5th. Mizuho upped their target price on LyondellBasell Industries from $ 125.00 to $ 132.00 in a research report on Tuesday, May 3rd. Jefferies Financial Group cut their target price on LyondellBasell Industries from $ 135.00 to $ 117.00 in a research report on Thursday, June 16th. Bank of America reduced their price objective on shares of LyondellBasell Industries from $ 109.00 to $ 100.00 and set an “underperform” rating for the company in a report on Tuesday, June 14th. Finally, Alembic Global Advisors lowered shares of LyondellBasell Industries from an “overweight” rating to a “neutral” rating and reduced their price objective for the stock from $ 120.00 to $ 115.00 in a report on Tuesday, May 31st. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $ 114.75.
In other LyondellBasell Industries news, Director Jagjeet S. Bindra sold 2,640 shares of the company’s stock in a transaction dated Tuesday, June 7th. The shares were sold at an average price of $ 111.44, for a total value of $ 294,201.60. Following the completion of the sale, the director now directly owns 7,020 shares of the company’s stock, valued at approximately $ 782,308.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Michael C. Mcmurray sold 33,880 shares of the company’s stock in a transaction dated Wednesday, June 8th. The shares were sold at an average price of $ 110.94, for a total transaction of $ 3,758,647.20. Following the completion of the sale, the chief financial officer now directly owns 39,612 shares of the company’s stock, valued at $ 4,394,555.28. The disclosure for this sale can be found here. Corporate insiders own 0.18% of the company’s stock.
Several large investors have recently made changes to their positions in the company. Vanguard Group Inc. lifted its position in shares of LyondellBasell Industries by 1.1% during the 1st quarter. Vanguard Group Inc. now owns 30,852,225 shares of the specialty chemicals company’s stock valued at $ 3,172,226,000 after acquiring an additional 335,124 shares during the last quarter. State Street Corp lifted its position in shares of LyondellBasell Industries by 2.9% during the 1st quarter. State Street Corp now owns 12,322,280 shares of the specialty chemicals company’s stock valued at $ 1,266,977,000 after acquiring an additional 348,169 shares during the last quarter. Wellington Management Group LLP raised its stake in LyondellBasell Industries by 2.6% during the 1st quarter. Wellington Management Group LLP now owns 10,570,084 shares of the specialty chemicals company’s stock valued at $ 1,086,816,000 after purchasing an additional 272,372 shares during the period. Geode Capital Management LLC raised its stake in LyondellBasell Industries by 3.5% during the 4th quarter. Geode Capital Management LLC now owns 5,092,810 shares of the specialty chemicals company’s stock valued at $ 469,192,000 after purchasing an additional 173,263 shares during the period. Finally, Charles Schwab Investment Management Inc. LyondellBasell Industries raised 205.3% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 4,454,483 shares of the specialty chemicals company’s stock valued at $ 458,010,000 after purchasing an additional 2,995,335 shares during the period. Institutional investors own 69.64% of the company’s stock.
The firm’s 50-day simple moving average is $ 106.56 and its 200-day simple moving average is $ 100.90. The company has a debt-to-equity ratio of 0.88, a quick ratio of 1.10 and a current ratio of 1.76. The company has a market capitalization of $ 27.45 billion, a price-to-earnings ratio of 4.98, a P / E / G ratio of 0.64 and a beta of 1.27.
LyondellBasell Industries (NYSE: LYB – Get Rating) last announced its quarterly earnings data on Friday, April 29th. The specialty chemicals company reported $ 4.00 EPS for the quarter, beating analysts’ consensus estimates of $ 3.48 by $ 0.52. LyondellBasell Industries had a net margin of 11.68% and a return on equity of 54.14%. The firm had revenue of $ 13.16 billion for the quarter, compared to the consensus estimate of $ 12.67 billion. During the same period in the previous year, the firm posted $ 3.18 earnings per share. The firm’s revenue was up 44.9% on a year-over-year basis. As a group, equities analysts anticipate that LyondellBasell Industries will post 17.85 earnings per share for the current fiscal year.
The business also recently announced a special dividend, which was paid on Monday, June 13th. Investors of record on Monday, June 6th were given a dividend of $ 5.20 per share. This represents a yield of 4.2%. The ex-dividend date was Friday, June 3rd. LyondellBasell Industries’ payout ratio is currently 27.11%.
About LyondellBasell Industries (NYSE: LYB)
LyondellBasell Industries NV operates as a chemical company in the United States, Germany, Mexico, Italy, Poland, France, Japan, China, the Netherlands, and internationally. The company operates in six segments: Olefins and PolyolefinsAmericas; Olefins and PolyolefinsEurope, Asia, International; Intermediates and Derivatives; Advanced Polymer Solutions; Refining; and Technology.
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