LyondellBasell Industries NV (LYB) Rating Lowered to Hold at Zacks Investment Research

LyondellBasell Industries NV (NYSE:LYB) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Tuesday.

According to Zacks, “LyondellBasell’s adjusted earnings for third-quarter 2017 missed the Zacks Consensus Estimate while sales beat.  The company expects global markets to remain tight to balanced for the remainder of 2017. LyondellBasell has outperformed the industry it belongs to over the last three months. LyondellBasell's ethylene expansion initiatives and the HDPE project should boost capacity and add to its earnings. The company also remains committed to boosting shareholder returns. However, LyondellBasell continues to face certain operation issues. Its operations remain subject to outages which is affecting its results. The company also faces headwind from Hurricane Harvey, which is expected to impact its fourth-quarter results. It also faces pricing pressure. “

Several other equities research analysts have also commented on LYB. BidaskClub lowered shares of LyondellBasell Industries NV from a “hold” rating to a “sell” rating in a research note on Tuesday, August 1st. Jefferies Group LLC set a $88.00 price objective on shares of LyondellBasell Industries NV and gave the stock a “hold” rating in a research note on Monday, August 21st. Royal Bank Of Canada boosted their price objective on shares of LyondellBasell Industries NV from $102.00 to $110.00 and gave the stock a “sector perform” rating in a research note on Tuesday. SunTrust Banks, Inc. reissued a “hold” rating and set a $96.00 price objective (up previously from $90.00) on shares of LyondellBasell Industries NV in a research note on Saturday, September 30th. Finally, UBS AG reissued a “neutral” rating and set a $88.00 price objective (up previously from $85.00) on shares of LyondellBasell Industries NV in a research note on Monday, July 31st. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. LyondellBasell Industries NV has a consensus rating of “Hold” and an average target price of $99.56.

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In other news, Director Jagjeet S. Bindra sold 1,574 shares of the business’s stock in a transaction that occurred on Tuesday, October 31st. The shares were sold at an average price of $103.73, for a total transaction of $163,271.02. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.09% of the stock is owned by insiders.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. First Heartland Consultants Inc. raised its holdings in shares of LyondellBasell Industries NV by 1.9% during the first quarter. First Heartland Consultants Inc. now owns 2,500 shares of the specialty chemicals company’s stock valued at $228,000 after purchasing an additional 47 shares during the last quarter. Glenview Trust Co raised its holdings in shares of LyondellBasell Industries NV by 0.4% during the second quarter. Glenview Trust Co now owns 14,051 shares of the specialty chemicals company’s stock valued at $1,186,000 after purchasing an additional 50 shares during the last quarter. Kingfisher Capital LLC raised its holdings in shares of LyondellBasell Industries NV by 0.5% during the second quarter. Kingfisher Capital LLC now owns 16,703 shares of the specialty chemicals company’s stock valued at $1,410,000 after purchasing an additional 75 shares during the last quarter. CAPROCK Group Inc. raised its holdings in shares of LyondellBasell Industries NV by 1.0% during the second quarter. CAPROCK Group Inc. now owns 8,338 shares of the specialty chemicals company’s stock valued at $704,000 after purchasing an additional 79 shares during the last quarter. Finally, Advisory Services Network LLC raised its holdings in shares of LyondellBasell Industries NV by 0.4% during the second quarter. Advisory Services Network LLC now owns 19,225 shares of the specialty chemicals company’s stock valued at $1,622,000 after purchasing an additional 81 shares during the last quarter. 74.05% of the stock is owned by hedge funds and other institutional investors.

LyondellBasell Industries NV Company Profile

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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