LyondellBasell Industries (NYSE:LYB)‘s stock had its “buy” rating reiterated by equities researchers at $1 in a research note issued to investors on Tuesday. They presently have a $120.00 target price on the specialty chemicals company’s stock. $1’s target price would indicate a potential upside of 39.45% from the stock’s previous close.
The analysts wrote, “We acknowledge Q4’18 EBITDA’s flirtation with trough-ish levels, but, in our opinion, a series of one-offs during the quarter, including planned and unplanned outages, were responsible for masking the company’s true earnings power and diminishing Q4’18 EBITDA by USD225m. Starting with a base of USD4,848 (trough” Q4’18 EBITDA, annualized), we layer on: 1) the reversal of outage-related lost EBITDA of USD900m, annualized; 2) EBITDA accretion of the mid-year start-up of the company’s greenfield Hyperzone HDPE facility; 3) USD58m gleaned from the I&D segment’s contracting improvements; and 4) lost EBITDA of from company-announced planned turnarounds. Our analysis pegs LYB’s trough-level EBITDA for 2019 at USD5,726m, or a valuation of USD94 per share.””
LYB has been the subject of a number of other reports. HSBC upgraded LyondellBasell Industries from a “hold” rating to a “buy” rating and set a $124.00 price objective for the company in a research note on Friday, November 2nd. Nomura decreased their price objective on shares of LyondellBasell Industries from $118.00 to $113.00 and set a “neutral” rating on the stock in a research report on Monday, October 15th. Zacks Investment Research upgraded shares of LyondellBasell Industries from a “sell” rating to a “hold” rating in a research report on Monday, October 15th. Alembic Global Advisors set a $145.00 target price on shares of LyondellBasell Industries and gave the stock a “buy” rating in a research report on Tuesday, October 30th. Finally, BMO Capital Markets dropped their price target on LyondellBasell Industries from $97.00 to $95.00 and set a “market perform” rating on the stock in a research report on Tuesday, February 5th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and twelve have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $117.29.
LYB opened at $86.05 on Tuesday. The firm has a market cap of $32.65 billion, a PE ratio of 7.64, a PEG ratio of 0.87 and a beta of 1.38. LyondellBasell Industries has a one year low of $77.52 and a one year high of $119.39. The company has a quick ratio of 1.10, a current ratio of 1.92 and a debt-to-equity ratio of 0.83.
In other LyondellBasell Industries news, Director Robin W.T. Buchanan bought 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, December 6th. The stock was acquired at an average price of $88.63 per share, with a total value of $443,150.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.09% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in the business. Oregon Public Employees Retirement Fund increased its holdings in shares of LyondellBasell Industries by 7,934.2% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 13,343,271 shares of the specialty chemicals company’s stock worth $160,000 after acquiring an additional 13,177,190 shares during the period. Capital International Investors purchased a new stake in LyondellBasell Industries during the 3rd quarter valued at $385,453,000. Skandinaviska Enskilda Banken AB publ purchased a new position in shares of LyondellBasell Industries during the third quarter valued at approximately $189,804,000. Alliancebernstein L.P. boosted its stake in shares of LyondellBasell Industries by 98.7% during the 3rd quarter. Alliancebernstein L.P. now owns 2,662,564 shares of the specialty chemicals company’s stock worth $272,939,000 after acquiring an additional 1,322,755 shares in the last quarter. Finally, PointState Capital LP lifted its position in shares of LyondellBasell Industries by 36.3% during the 3rd quarter. PointState Capital LP now owns 2,520,233 shares of the specialty chemicals company’s stock worth $258,349,000 after purchasing an additional 670,971 shares during the last quarter. Institutional investors own 76.29% of the company’s stock.
LyondellBasell Industries Company Profile
LyondellBasell Industries N.V. operates as a chemical company worldwide. The company operates in five segments: Olefins and PolyolefinsAmericas; Olefins and PolyolefinsEurope, Asia, International; Intermediates and Derivatives; Refining; and Technology. It produces and markets olefins and co-products; polyethylene products, which consist of high density polyethylene, low density polyethylene, and linear low density polyethylene; and polypropylene (PP) products, such as PP homopolymers, copolymers, and compounds.
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