$1 reaffirmed their buy rating on shares of LyondellBasell Industries (NYSE:LYB) in a research note published on Tuesday. $1 currently has a $120.00 price target on the specialty chemicals company’s stock.
“We acknowledge Q4’18 EBITDA’s flirtation with trough-ish levels, but, in our opinion, a series of one-offs during the quarter, including planned and unplanned outages, were responsible for masking the company’s true earnings power and diminishing Q4’18 EBITDA by USD225m. Starting with a base of USD4,848 (trough” Q4’18 EBITDA, annualized), we layer on: 1) the reversal of outage-related lost EBITDA of USD900m, annualized; 2) EBITDA accretion of the mid-year start-up of the company’s greenfield Hyperzone HDPE facility; 3) USD58m gleaned from the I&D segment’s contracting improvements; and 4) lost EBITDA of from company-announced planned turnarounds. Our analysis pegs LYB’s trough-level EBITDA for 2019 at USD5,726m, or a valuation of USD94 per share.”,” the firm’s analyst commented.
Several other research firms also recently commented on LYB. Zacks Investment Research upgraded LyondellBasell Industries from a sell rating to a hold rating in a report on Monday, October 15th. Nomura reduced their price objective on LyondellBasell Industries from $118.00 to $113.00 and set a neutral rating for the company in a report on Monday, October 15th. ValuEngine cut LyondellBasell Industries from a hold rating to a sell rating in a research report on Wednesday, October 17th. Alembic Global Advisors set a $120.00 target price on LyondellBasell Industries and gave the stock a buy rating in a research report on Monday, November 12th. Finally, Royal Bank of Canada raised LyondellBasell Industries from a sector perform rating to an outperform rating and set a $130.00 target price on the stock in a research report on Tuesday, November 20th. They noted that the move was a valuation call. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and twelve have assigned a buy rating to the stock. LyondellBasell Industries has an average rating of Buy and an average target price of $117.29.
In related news, Director Robin W.T. Buchanan acquired 5,000 shares of the stock in a transaction dated Thursday, December 6th. The shares were purchased at an average cost of $88.63 per share, with a total value of $443,150.00. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.09% of the company’s stock.
Several hedge funds have recently bought and sold shares of LYB. Oregon Public Employees Retirement Fund lifted its position in shares of LyondellBasell Industries by 7,934.2% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 13,343,271 shares of the specialty chemicals company’s stock valued at $160,000 after buying an additional 13,177,190 shares in the last quarter. Capital International Investors purchased a new position in shares of LyondellBasell Industries during the 3rd quarter valued at about $385,453,000. Skandinaviska Enskilda Banken AB publ purchased a new position in shares of LyondellBasell Industries during the 3rd quarter valued at about $189,804,000. Alliancebernstein L.P. lifted its position in shares of LyondellBasell Industries by 98.7% during the 3rd quarter. Alliancebernstein L.P. now owns 2,662,564 shares of the specialty chemicals company’s stock valued at $272,939,000 after buying an additional 1,322,755 shares in the last quarter. Finally, PointState Capital LP lifted its holdings in LyondellBasell Industries by 36.3% in the 3rd quarter. PointState Capital LP now owns 2,520,233 shares of the specialty chemicals company’s stock worth $258,349,000 after purchasing an additional 670,971 shares in the last quarter. 76.29% of the stock is currently owned by hedge funds and other institutional investors.
About LyondellBasell Industries
LyondellBasell Industries N.V. operates as a chemical company worldwide. The company operates in five segments: Olefins and PolyolefinsAmericas; Olefins and PolyolefinsEurope, Asia, International; Intermediates and Derivatives; 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, copolymers, and compounds.
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