Trade Report: The Zacks Investment Research Upgrades LyondellBasell Industries (LYB) to Buy

The Zacks Investment Research Upgrades LyondellBasell Industries (LYB) to Buy

LyondellBasell Industries (NYSE:LYB) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Wednesday. The brokerage currently has a $89.00 price target on the stock. Zacks Investment Research’s price target suggests a potential upside of 11.47% from the stock’s previous close.

According to Zacks, “Estimates for LyondellBasell have been going up of late. LyondellBasell remains on track with its expansion projects that are expected to boost capacity and add to its earnings. The company also remains committed to boosting shareholder returns by leveraging healthy cash flows. Moreover, the company is executing its expansion projects to leverage the U.S. natural gas liquids (NGLs) advantage.”

Several other brokerages have also weighed in on LYB. Vetr raised LyondellBasell Industries from a “buy” rating to a “strong-buy” rating and set a $84.88 target price on the stock in a research report on Monday, August 1st. Barclays PLC dropped their target price on LyondellBasell Industries from $99.00 to $95.00 and set an “overweight” rating on the stock in a research report on Tuesday, August 2nd. Susquehanna dropped their target price on LyondellBasell Industries from $100.00 to $96.00 and set a “positive” rating on the stock in a research report on Friday, August 26th. Jefferies Group reaffirmed a “neutral” rating on shares of LyondellBasell Industries in a research report on Tuesday, September 6th. Finally, Royal Bank Of Canada lowered LyondellBasell Industries from an “outperform” rating to a “sector perform” rating and dropped their target price for the stock from $100.00 to $84.00 in a research report on Monday, June 27th. Two analysts have rated the stock with a sell rating, eleven have given a hold rating and five have assigned a buy rating to the company’s stock. LyondellBasell Industries currently has an average rating of “Hold” and an average price target of $89.87.

LyondellBasell Industries (NYSE:LYB) traded up 2.19% during midday trading on Wednesday, hitting $81.59. 1,945,601 shares of the company traded hands. The stock has a market cap of $33.92 billion, a P/E ratio of 8.81 and a beta of 1.46. LyondellBasell Industries has a 12-month low of $69.10 and a 12-month high of $98.25. The stock has a 50 day moving average of $78.34 and a 200 day moving average of $80.25.

LyondellBasell Industries (NYSE:LYB) last posted its quarterly earnings results on Friday, July 29th. The company reported $2.45 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $2.51 by $0.06. The firm had revenue of $7.33 billion for the quarter, compared to analyst estimates of $7.64 billion. LyondellBasell Industries had a net margin of 13.91% and a return on equity of 66.25%. The business’s revenue was down 19.9% on a year-over-year basis. During the same period in the prior year, the company posted $2.81 earnings per share. Equities research analysts predict that LyondellBasell Industries will post $9.61 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 6th. Investors of record on Tuesday, August 16th were given a $0.85 dividend. The ex-dividend date of this dividend was Friday, August 12th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 4.26%. LyondellBasell Industries’s dividend payout ratio (DPR) is 36.68%.

In related news, Director Jagjeet S. Bindra sold 3,750 shares of the stock in a transaction dated Tuesday, August 30th. The stock was sold at an average price of $80.01, for a total value of $300,037.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.14% of the stock is owned by corporate insiders.

A number of large investors have recently made changes to their positions in the company. Pinkerton Retirement Specialists LLC acquired a new stake in shares of LyondellBasell Industries during the second quarter valued at about $103,000. Americafirst Capital Management LLC acquired a new stake in shares of LyondellBasell Industries during the second quarter valued at about $106,000. Pacer Advisors Inc. increased its stake in shares of LyondellBasell Industries by 321.5% in the second quarter. Pacer Advisors Inc. now owns 1,492 shares of the company’s stock valued at $111,000 after buying an additional 1,138 shares in the last quarter. Exane Derivatives increased its stake in shares of LyondellBasell Industries by 103.6% in the second quarter. Exane Derivatives now owns 1,547 shares of the company’s stock valued at $115,000 after buying an additional 787 shares in the last quarter. Finally, J.Safra Asset Management Corp acquired a new stake in shares of LyondellBasell Industries during the second quarter valued at about $129,000. 71.62% of the stock is owned by hedge funds and other institutional investors.

LyondellBasell Industries Company Profile

LyondellBasell Industries N.V. is a global chemical company. The Company’s segments include Olefins and Polyolefins-Americas (O&P-Americas), Olefins and Polyolefins-Europe, Asia, International (O&P-EAI), Intermediates and Derivatives (I&D), Refining, and Technology. Its O&P-Americas segment produces and markets olefins, including ethylene and ethylene co-products, and polyolefins.

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