LyondellBasell Industries NV (NYSE:LYB) Sees Significant Growth in Short Interest

LyondellBasell Industries NV (NYSE:LYB) was the target of a significant growth in short interest in the month of July. As of July 15th, there was short interest totalling 9,506,900 shares, a growth of 53.2% from the June 15th total of 6,205,600 shares. Based on an average daily trading volume, of 3,300,000 shares, the short-interest ratio is presently 2.9 days. Approximately 3.2% of the company’s shares are short sold.

Several equities research analysts have weighed in on the stock. UBS Group increased their target price on shares of LyondellBasell Industries from $86.00 to $89.00 and gave the stock a “neutral” rating in a report on Thursday, July 11th. JPMorgan Chase & Co. set a $430.00 target price on shares of Boeing and gave the stock a “buy” rating in a report on Friday, July 19th. Citigroup upgraded shares of Infosys from a “neutral” rating to a “buy” rating in a report on Friday, July 12th. Nomura increased their target price on shares of Cintas from $217.00 to $248.00 and gave the stock a “neutral” rating in a report on Monday. Finally, Deutsche Bank reiterated a “buy” rating and issued a GBX 430 ($5.62) target price on shares of in a report on Monday, June 17th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and nine have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $107.38.

Institutional investors have recently added to or reduced their stakes in the stock. First Command Bank grew its position in LyondellBasell Industries by 64.4% in the first quarter. First Command Bank now owns 319 shares of the specialty chemicals company’s stock valued at $27,000 after purchasing an additional 125 shares in the last quarter. Destination Wealth Management bought a new position in shares of LyondellBasell Industries in the 1st quarter valued at about $28,000. Phocas Financial Corp. bought a new position in shares of LyondellBasell Industries in the 4th quarter valued at about $33,000. Truvestments Capital LLC bought a new position in shares of LyondellBasell Industries in the 1st quarter valued at about $33,000. Finally, Icon Wealth Partners LLC bought a new position in shares of LyondellBasell Industries in the 1st quarter valued at about $35,000. 68.89% of the stock is owned by institutional investors and hedge funds.

Shares of LYB stock traded down $0.17 during trading hours on Friday, hitting $85.34. 1,935,900 shares of the company were exchanged, compared to its average volume of 2,884,784. The company has a 50 day moving average of $85.77. The company has a quick ratio of 0.83, a current ratio of 1.47 and a debt-to-equity ratio of 0.74. LyondellBasell Industries has a 52 week low of $73.94 and a 52 week high of $116.63. The stock has a market cap of $28.66 billion, a P/E ratio of 7.57, a PEG ratio of 0.92 and a beta of 1.27.

LyondellBasell Industries (NYSE:LYB) last released its earnings results on Friday, April 26th. The specialty chemicals company reported $2.22 earnings per share for the quarter, beating analysts’ consensus estimates of $2.20 by $0.02. The business had revenue of $8.78 billion during the quarter, compared to the consensus estimate of $9.47 billion. LyondellBasell Industries had a net margin of 11.24% and a return on equity of 38.05%. The firm’s revenue for the quarter was down 10.1% compared to the same quarter last year. During the same quarter last year, the firm earned $3.11 earnings per share. As a group, sell-side analysts forecast that LyondellBasell Industries will post 10.45 earnings per share for the current fiscal year.

LyondellBasell Industries Company Profile

LyondellBasell Industries N.V. operates as a chemical company worldwide. The company operates in six segments: Olefins and Polyolefins—Americas; Olefins and Polyolefins—Europe, Asia, International; Intermediates and Derivatives; Advanced Polymer Solutions; 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 and copolymers.

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