Today: Today: LyondellBasell Industries (LYB) Coverage Initiated at Tudor Pickering

Today: LyondellBasell Industries (LYB) Coverage Initiated at Tudor Pickering

Tudor Pickering assumed coverage on shares of LyondellBasell Industries (NYSE:LYB) in a research note issued to investors on Thursday. The firm set a “buy” rating and a $95.00 price target on the stock. Tudor Pickering’s target price suggests a potential upside of 19.42% from the stock’s current price.

LYB has been the subject of several other reports. Zacks Investment Research upgraded shares of LyondellBasell Industries from a “hold” rating to a “buy” rating and set a $89.00 price target for the company in a research note on Wednesday, October 5th. Susquehanna decreased their price target on shares of LyondellBasell Industries from $100.00 to $96.00 and set a “positive” rating for the company in a research note on Friday, August 26th. RBC Capital Markets reiterated a “hold” rating and issued a $82.00 price target on shares of LyondellBasell Industries in a research note on Tuesday, September 20th. Vetr lowered shares of LyondellBasell Industries from a “buy” rating to a “hold” rating and set a $82.00 price target for the company. in a research note on Monday, August 22nd. Finally, Morgan Stanley reiterated a “buy” rating on shares of LyondellBasell Industries in a research note on Thursday, June 16th. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating and five have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $90.19.

Shares of LyondellBasell Industries (NYSE:LYB) opened at 79.55 on Thursday. The firm has a 50-day moving average of $78.99 and a 200 day moving average of $80.11. LyondellBasell Industries has a 12 month low of $69.10 and a 12 month high of $97.20. The company has a market cap of $33.07 billion, a price-to-earnings ratio of 8.59 and a beta of 1.46.

LyondellBasell Industries (NYSE:LYB) last issued its quarterly earnings data on Friday, July 29th. The company reported $2.45 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $2.51 by $0.06. The company earned $7.33 billion during the quarter, compared to the consensus estimate of $7.64 billion. LyondellBasell Industries had a return on equity of 66.25% and a net margin of 13.91%. The firm’s revenue for the quarter was down 19.9% compared to the same quarter last year. During the same quarter last year, the company posted $2.81 earnings per share. On average, analysts expect that LyondellBasell Industries will post $9.61 earnings per share for the current year.

In other news, Director Jagjeet S. Bindra sold 3,750 shares of the firm’s stock in a transaction dated 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 accessible through this hyperlink. Insiders own 0.14% of the company’s stock.

Several hedge funds have recently made changes to their positions in LYB. Geode Capital Management LLC increased its stake in shares of LyondellBasell Industries by 3.9% in the first quarter. Geode Capital Management LLC now owns 3,165,347 shares of the company’s stock worth $270,393,000 after buying an additional 117,962 shares during the last quarter. Loomis Sayles & Co. L P increased its stake in shares of LyondellBasell Industries by 106.2% in the first quarter. Loomis Sayles & Co. L P now owns 513,157 shares of the company’s stock worth $43,916,000 after buying an additional 264,234 shares during the last quarter. Riverhead Capital Management LLC increased its stake in shares of LyondellBasell Industries by 12.2% in the first quarter. Riverhead Capital Management LLC now owns 222,513 shares of the company’s stock worth $19,043,000 after buying an additional 24,171 shares during the last quarter. AXA increased its stake in shares of LyondellBasell Industries by 13.4% in the first quarter. AXA now owns 656,797 shares of the company’s stock worth $56,209,000 after buying an additional 77,461 shares during the last quarter. Finally, Quadrature Capital Ltd increased its stake in shares of LyondellBasell Industries by 113.0% in the first quarter. Quadrature Capital Ltd now owns 41,413 shares of the company’s stock worth $3,544,000 after buying an additional 21,974 shares during the last quarter. 71.63% of the stock is currently owned by hedge funds and other institutional investors.

LyondellBasell Industries Company Profile

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