LyondellBasell Industries NV (NYSE:LYB) – SunTrust Banks cut their Q4 2017 earnings per share estimates for LyondellBasell Industries in a report issued on Tuesday. SunTrust Banks analyst J. Sheehan now forecasts that the specialty chemicals company will post earnings of $2.34 per share for the quarter, down from their prior forecast of $2.40. SunTrust Banks currently has a “Hold” rating and a $100.00 price target on the stock. SunTrust Banks also issued estimates for LyondellBasell Industries’ FY2019 earnings at $8.71 EPS.
Other research analysts have also issued research reports about the company. Zacks Investment Research raised LyondellBasell Industries from a “hold” rating to a “buy” rating and set a $110.00 target price on the stock in a report on Thursday, October 12th. Morgan Stanley set a $115.00 target price on LyondellBasell Industries and gave the company a “buy” rating in a report on Saturday, December 2nd. Citigroup raised LyondellBasell Industries from a “neutral” rating to a “buy” rating and set a $120.00 target price on the stock in a report on Monday. Jefferies Group reissued a “hold” rating and issued a $95.00 target price (up previously from $88.00) on shares of LyondellBasell Industries in a report on Tuesday, October 10th. Finally, lowered LyondellBasell Industries from a “buy” rating to a “hold” rating and set a $101.00 target price on the stock. in a report on Tuesday, October 10th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $101.56.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 12th. Investors of record on Tuesday, December 5th were paid a $0.90 dividend. The ex-dividend date was Monday, December 4th. This represents a $3.60 dividend on an annualized basis and a dividend yield of 3.28%. LyondellBasell Industries’s dividend payout ratio (DPR) is presently 38.59%.
In related news, Director Jagjeet S. Bindra sold 1,574 shares of LyondellBasell Industries stock in a transaction that occurred on Tuesday, October 31st. The stock was sold at an average price of $103.73, for a total value of $163,271.02. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.09% of the stock is owned by insiders.
Institutional investors have recently bought and sold shares of the stock. Fieldpoint Private Securities LLC purchased a new stake in shares of LyondellBasell Industries in the third quarter valued at approximately $109,000. BDO Wealth Advisors LLC boosted its stake in shares of LyondellBasell Industries by 64.5% in the third quarter. BDO Wealth Advisors LLC now owns 1,785 shares of the specialty chemicals company’s stock valued at $177,000 after buying an additional 700 shares in the last quarter. Salem Investment Counselors Inc. boosted its stake in shares of LyondellBasell Industries by 80.0% in the third quarter. Salem Investment Counselors Inc. now owns 1,800 shares of the specialty chemicals company’s stock valued at $179,000 after buying an additional 800 shares in the last quarter. Vicus Capital purchased a new stake in shares of LyondellBasell Industries in the third quarter valued at approximately $203,000. Finally, Park Avenue Securities LLC purchased a new stake in shares of LyondellBasell Industries in the third quarter valued at approximately $206,000. Hedge funds and other institutional investors own 73.94% of the company’s stock.
About LyondellBasell Industries
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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