Trading Report: The LyondellBasell Industries (LYB) to Release Quarterly Earnings on Tuesday

The LyondellBasell Industries (LYB) to Release Quarterly Earnings on Tuesday

LyondellBasell Industries (NYSE:LYB) will issue its Q316 quarterly earnings data on Tuesday, November 1st. Analysts expect the company to announce earnings of $2.35 per share and revenue of $7.48 billion for the quarter.

LyondellBasell Industries (NYSE:LYB) opened at 80.28 on Monday. LyondellBasell Industries has a 52 week low of $69.10 and a 52 week high of $97.20. The firm’s 50 day moving average is $79.40 and its 200-day moving average is $79.78. The company has a market cap of $33.37 billion, a P/E ratio of 8.67 and a beta of 1.46.

In related news, Director Jagjeet S. Bindra sold 3,750 shares of the stock in a transaction on Tuesday, August 30th. The shares were sold at an average price of $80.01, for a total transaction of $300,037.50. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 0.14% of the company’s stock.

A number of hedge funds have recently made changes to their positions in LYB. Janus Capital Management LLC increased its stake in shares of LyondellBasell Industries by 7.4% in the second quarter. Janus Capital Management LLC now owns 12,232,383 shares of the company’s stock worth $910,334,000 after buying an additional 844,373 shares during the period. Artisan Partners Limited Partnership purchased a new stake in shares of LyondellBasell Industries during the second quarter worth about $45,293,000. Lord Abbett & CO. LLC increased its stake in shares of LyondellBasell Industries by 52.6% in the second quarter. Lord Abbett & CO. LLC now owns 1,094,682 shares of the company’s stock worth $81,466,000 after buying an additional 377,543 shares during the period. Marshall Wace LLP increased its stake in shares of LyondellBasell Industries by 27.7% in the second quarter. Marshall Wace LLP now owns 1,698,049 shares of the company’s stock worth $126,369,000 after buying an additional 368,551 shares during the period. Finally, APG Asset Management N.V. increased its stake in shares of LyondellBasell Industries by 15.8% in the second quarter. APG Asset Management N.V. now owns 1,877,029 shares of the company’s stock worth $139,688,000 after buying an additional 256,100 shares during the period. 71.07% of the stock is currently owned by hedge funds and other institutional investors.

LYB has been the subject of several research reports. Vetr cut shares of LyondellBasell Industries from a “strong-buy” rating to a “buy” rating and set a $84.88 price target for the company. in a research report on Monday, July 11th. Morgan Stanley set a $115.00 price objective on shares of LyondellBasell Industries and gave the stock a “buy” rating in a research note on Wednesday, September 28th. Zacks Investment Research upgraded shares of LyondellBasell Industries from a “hold” rating to a “buy” rating and set a $89.00 price objective for the company in a research note on Wednesday, October 5th. Tudor Pickering started coverage on shares of LyondellBasell Industries in a research note on Thursday, October 13th. They set a “buy” rating and a $95.00 price objective for the company. Finally, Argus reiterated a “hold” rating on shares of LyondellBasell Industries in a research note on Thursday, August 18th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and five have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $89.47.

About LyondellBasell Industries

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