LyondellBasell Industries NV (NYSE:LYB) Stock Rating Reaffirmed by Deutsche Bank AG

Deutsche Bank AG reaffirmed their buy rating on shares of LyondellBasell Industries NV (NYSE:LYB) in a report released on Monday morning. Deutsche Bank AG currently has a $94.00 target price on the specialty chemicals company’s stock, up from their prior target price of $90.00.

LYB has been the topic of several other research reports. Instinet dropped their price objective on LyondellBasell Industries NV from $91.00 to $90.00 and set a neutral rating on the stock in a research note on Monday, May 1st. Zacks Investment Research cut LyondellBasell Industries NV from a hold rating to a sell rating in a research note on Thursday, July 27th. Citigroup Inc. reissued an overweight rating on shares of LyondellBasell Industries NV in a research note on Friday, April 14th. Sanford C. Bernstein reissued an outperform rating and issued a $110.00 price objective on shares of LyondellBasell Industries NV in a research note on Wednesday, June 28th. Finally, Bank of America Corporation cut LyondellBasell Industries NV from a buy rating to an underperform rating and dropped their price objective for the stock from $98.00 to $70.00 in a research note on Monday, May 8th. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have assigned a buy rating to the company. The stock currently has a consensus rating of Hold and a consensus target price of $94.81.

Shares of LyondellBasell Industries NV (LYB) traded up 0.43% during midday trading on Monday, hitting $88.75. The stock had a trading volume of 4,259,711 shares. LyondellBasell Industries NV has a 52-week low of $71.55 and a 52-week high of $97.64. The company’s 50 day moving average is $84.36 and its 200 day moving average is $86.92. The company has a market cap of $35.13 billion, a PE ratio of 9.91 and a beta of 1.05.

LyondellBasell Industries NV (NYSE:LYB) last released its earnings results on Friday, July 28th. The specialty chemicals company reported $2.82 EPS for the quarter, beating analysts’ consensus estimates of $2.68 by $0.14. The firm had revenue of $8.40 billion for the quarter, compared to analysts’ expectations 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 quarterly revenue was up 14.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.56 earnings per share. On average, analysts anticipate that LyondellBasell Industries NV will post $9.69 earnings per share for the current year.

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LyondellBasell Industries NV announced that its board has authorized a share repurchase program on Wednesday, May 24th that authorizes the company to buyback 1,000% of shares. This buyback authorization authorizes the specialty chemicals company to reacquire shares of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.

In other LyondellBasell Industries NV news, Director Jagjeet S. Bindra sold 3,224 shares of the company’s stock in a transaction on Tuesday, August 1st. The stock was sold at an average price of $89.20, for a total transaction of $287,580.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.14% of the stock is owned by corporate insiders.

Hedge funds have recently bought and sold shares of the company. Harbour Capital Advisors LLC bought a new stake in LyondellBasell Industries NV during the first quarter worth $107,000. TrimTabs Asset Management LLC raised its stake 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 valued at $124,000 after buying an additional 640 shares in the last quarter. Point72 Asia Hong Kong Ltd acquired a new stake in shares of LyondellBasell Industries NV during the first quarter valued at approximately $132,000. American Beacon Advisors Inc. acquired a new stake in shares of LyondellBasell Industries NV during the first quarter valued at approximately $161,000. Finally, Seven Bridges Advisors LLC raised its stake 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 valued at $163,000 after buying an additional 478 shares in the last quarter. Institutional investors own 73.27% of the company’s stock.

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.