Investors purchased shares of LyondellBasell Industries NV (NYSE:LYB) on weakness during trading hours on Tuesday. $68.87 million flowed into the stock on the tick-up and $39.40 million flowed out of the stock on the tick-down, for a money net flow of $29.47 million into the stock. Of all equities tracked, LyondellBasell Industries NV had the 18th highest net in-flow for the day. LyondellBasell Industries NV traded down ($0.83) for the day and closed at $89.26
A number of equities research analysts have recently weighed in on LYB shares. Bank of America Corporation lowered shares of LyondellBasell Industries NV from a “buy” rating to an “underperform” rating and lowered their price objective for the stock from $98.00 to $70.00 in a report on Monday, May 8th. Vertical Research upgraded shares of LyondellBasell Industries NV from a “hold” rating to a “buy” rating and set a $93.00 price objective for the company in a report on Tuesday, May 9th. Instinet lowered their price target on shares of LyondellBasell Industries NV from $91.00 to $90.00 and set a “neutral” rating for the company in a report on Monday, May 1st. Sanford C. Bernstein reiterated an “outperform” rating and set a $110.00 price target on shares of LyondellBasell Industries NV in a report on Wednesday, June 28th. Finally, HSBC Holdings plc started coverage on shares of LyondellBasell Industries NV in a report on Monday, June 26th. They set a “buy” rating and a $101.00 price target for the company. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating and eight have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $94.81.
The firm has a 50 day moving average price of $86.89 and a 200-day moving average price of $86.61. The firm has a market cap of $34.57 billion, a PE ratio of 9.75 and a beta of 1.06.
LyondellBasell Industries NV (NYSE:LYB) last issued its quarterly earnings results on Friday, July 28th. The specialty chemicals company reported $2.82 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.68 by $0.14. The business had revenue of $8.40 billion for the quarter, compared to analyst estimates of $8.52 billion. LyondellBasell Industries NV had a return on equity of 60.87% and a net margin of 11.40%. The company’s revenue was up 14.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.56 earnings per share. On average, analysts anticipate that LyondellBasell Industries NV will post $9.89 earnings per share for the current fiscal year.
LyondellBasell Industries NV announced that its Board of Directors has approved a share buyback plan on Wednesday, May 24th that permits the company to repurchase 1,000% of outstanding shares. This repurchase authorization permits the specialty chemicals company to buy shares of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.
In related news, Director Jagjeet S. Bindra sold 3,224 shares of the company’s stock in a transaction that occurred on Tuesday, August 1st. The stock was sold at an average price of $89.20, for a total value of $287,580.80. The sale was disclosed in a document filed with the SEC, which is available at this link. 0.14% of the stock is owned by corporate insiders.
A number of large investors have recently modified their holdings of LYB. Harbour Capital Advisors LLC purchased a new stake in shares of LyondellBasell Industries NV during the first quarter worth approximately $107,000. TrimTabs Asset Management LLC increased its position in shares of LyondellBasell Industries NV by 89.1% in the first quarter. TrimTabs Asset Management LLC now owns 1,358 shares of the specialty chemicals company’s stock worth $124,000 after buying an additional 640 shares during the last quarter. Point72 Asia Hong Kong Ltd bought a new position in shares of LyondellBasell Industries NV during the first quarter worth about $132,000. American Beacon Advisors Inc. bought a new position in shares of LyondellBasell Industries NV during the first quarter worth about $161,000. Finally, Seven Bridges Advisors LLC increased its position in shares of LyondellBasell Industries NV by 32.8% in the second quarter. Seven Bridges Advisors LLC now owns 1,936 shares of the specialty chemicals company’s stock worth $163,000 after buying an additional 478 shares during the last quarter. Hedge funds and other institutional investors own 74.23% of the company’s stock.
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About LyondellBasell Industries NV
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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