LyondellBasell Industries N.V. (NYSE:LYB – Get Free Report) was the target of some unusual options trading activity on Wednesday. Stock traders acquired 18,011 put options on the stock. This represents an increase of approximately 291% compared to the typical volume of 4,605 put options.
Wall Street Analysts Forecast Growth
A number of research firms have weighed in on LYB. Zacks Research downgraded LyondellBasell Industries from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 1st. Wells Fargo & Company upgraded LyondellBasell Industries from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $80.00 to $98.00 in a report on Thursday, May 28th. JPMorgan Chase & Co. upgraded shares of LyondellBasell Industries from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $75.00 to $80.00 in a report on Monday, August 3rd. Weiss Ratings downgraded LyondellBasell Industries from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Wednesday, August 26th. Finally, Royal Bank Of Canada boosted their price objective on shares of LyondellBasell Industries from $65.00 to $72.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 5th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, eight have assigned a Hold rating and four have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $72.41.
Get Our Latest Stock Analysis on LYB
LyondellBasell Industries Price Performance
LyondellBasell Industries (NYSE:LYB – Get Free Report) last issued its quarterly earnings results on Friday, July 31st. The specialty chemicals company reported $4.30 earnings per share for the quarter, topping analysts’ consensus estimates of $3.44 by $0.86. The company had revenue of $9.18 billion during the quarter, compared to the consensus estimate of $9.21 billion. LyondellBasell Industries had a negative net margin of 1.13% and a positive return on equity of 17.44%. The firm’s quarterly revenue was up 19.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.62 EPS. On average, research analysts predict that LyondellBasell Industries will post 9.18 earnings per share for the current fiscal year.
LyondellBasell Industries Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Monday, August 31st. Shareholders of record on Monday, August 24th were issued a $0.69 dividend. This represents a $2.76 dividend on an annualized basis and a dividend yield of 4.3%. The ex-dividend date of this dividend was Monday, August 24th. LyondellBasell Industries’s dividend payout ratio (DPR) is currently -244.25%.
Institutional Trading of LyondellBasell Industries
Several institutional investors and hedge funds have recently modified their holdings of the business. Core Capital Management & Research inc. bought a new stake in shares of LyondellBasell Industries in the 2nd quarter worth approximately $189,000. Sequoia Financial Advisors LLC grew its holdings in LyondellBasell Industries by 112.6% during the second quarter. Sequoia Financial Advisors LLC now owns 20,460 shares of the specialty chemicals company’s stock valued at $1,077,000 after purchasing an additional 10,837 shares during the period. WINTON GROUP Ltd increased its position in LyondellBasell Industries by 244.8% in the second quarter. WINTON GROUP Ltd now owns 134,133 shares of the specialty chemicals company’s stock worth $7,062,000 after buying an additional 95,236 shares during the last quarter. Engineers Gate Manager LP raised its stake in shares of LyondellBasell Industries by 158.6% in the second quarter. Engineers Gate Manager LP now owns 341,172 shares of the specialty chemicals company’s stock valued at $17,963,000 after buying an additional 209,255 shares during the period. Finally, Cidel Asset Management Inc. raised its stake in shares of LyondellBasell Industries by 2.0% in the second quarter. Cidel Asset Management Inc. now owns 9,996 shares of the specialty chemicals company’s stock valued at $526,000 after buying an additional 193 shares during the period. 71.20% of the stock is currently owned by institutional investors.
About LyondellBasell Industries
LyondellBasell Industries N.V. (NYSE: LYB) is a global chemical company that produces plastics, chemicals and refined products used in packaging, transportation, construction, healthcare, electronics and other consumer and industrial applications. Its portfolio includes polyethylene, polypropylene, propylene oxide, oxyfuels, acetyls and other intermediate chemicals, as well as advanced polymer compounds and solutions.
The company operates across the petrochemical value chain, converting hydrocarbon feedstocks into materials and specialty products.
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