Zacks Investment Research upgraded shares of LyondellBasell Industries (NYSE:LYB) from a hold rating to a buy rating in a report released on Tuesday morning. The brokerage currently has $128.00 price objective on the specialty chemicals company’s stock.
According to Zacks, “Estimates for the full year for LyondellBasell have been stable lately. LyondellBasell has outperformed the industry it belongs to over the last three months. LyondellBasell's ethylene expansion initiatives and the HDPE project should boost capacity and add to its earnings. The company also remains committed to boosting shareholder returns. The company has a mixed record of earnings surprises in the last few quarters.”
Several other equities research analysts also recently weighed in on LYB. Nomura reaffirmed a hold rating and issued a $99.00 price objective (up previously from $90.00) on shares of LyondellBasell Industries in a report on Tuesday, September 26th. SunTrust Banks reaffirmed a hold rating and issued a $96.00 price objective (up previously from $90.00) on shares of LyondellBasell Industries in a report on Saturday, September 30th. Cowen reaffirmed a hold rating and issued a $90.00 price objective on shares of LyondellBasell Industries in a report on Wednesday, October 4th. downgraded shares of LyondellBasell Industries from a buy rating to a hold rating and set a $101.00 price objective for the company. in a report on Tuesday, October 10th. Finally, Jefferies Group reissued a hold rating and issued a $95.00 price target (up from $88.00) on shares of LyondellBasell Industries in a report on Tuesday, October 10th. Two analysts have rated the stock with a sell rating, ten have given a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. The company presently has a consensus rating of Hold and a consensus price target of $102.56.
LyondellBasell Industries (NYSE LYB) traded down $0.02 during mid-day trading on Tuesday, reaching $117.68. 2,070,462 shares of the company traded hands, compared to its average volume of 1,760,000. The firm has a market capitalization of $46,420.00, a P/E ratio of 12.55, a P/E/G ratio of 1.39 and a beta of 1.08. LyondellBasell Industries has a 1-year low of $78.01 and a 1-year high of $118.00. The company has a quick ratio of 1.49, a current ratio of 2.40 and a debt-to-equity ratio of 1.16.
In other LyondellBasell Industries news, Director Jagjeet S. Bindra sold 1,574 shares of the company’s stock in a transaction dated Tuesday, October 31st. The shares were sold at an average price of $103.73, for a total value of $163,271.02. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.09% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of LYB. Fieldpoint Private Securities LLC acquired a new stake in LyondellBasell Industries during the 3rd quarter worth about $109,000. BDO Wealth Advisors LLC raised its holdings in LyondellBasell Industries by 64.5% during the 3rd quarter. BDO Wealth Advisors LLC now owns 1,785 shares of the specialty chemicals company’s stock worth $177,000 after buying an additional 700 shares during the period. WESPAC Advisors SoCal LLC raised its holdings in LyondellBasell Industries by 4.9% during the 2nd quarter. WESPAC Advisors SoCal LLC now owns 2,125 shares of the specialty chemicals company’s stock worth $179,000 after buying an additional 100 shares during the period. Salem Investment Counselors Inc. raised its holdings in LyondellBasell Industries by 80.0% during the 3rd quarter. Salem Investment Counselors Inc. now owns 1,800 shares of the specialty chemicals company’s stock worth $179,000 after buying an additional 800 shares during the period. Finally, WFG Advisors LP raised its holdings in LyondellBasell Industries by 66.4% during the 2nd quarter. WFG Advisors LP now owns 2,213 shares of the specialty chemicals company’s stock worth $187,000 after buying an additional 883 shares during the period. Hedge funds and other institutional investors own 73.94% of the company’s stock.
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About LyondellBasell Industries
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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