LyondellBasell Industries NV (LYB) is Downgraded by Cowen to Market Perform, Lowers Price Target to $ 87

LyondellBasell Industries NV (LYB) was Downgraded by Cowen to ” Market Perform” while Lowering the Price Target of the company shares to $ 87 from a previous price target of $105 . Earlier the firm had a rating of “Outperform ” on the company shares. Cowen advised their investors in a research report released on Jun 13, 2016.

Many Wall Street Analysts have commented on LyondellBasell Industries NV. LyondellBasell Industries NV was Downgraded by Nomura to ” Neutral” on Apr 27, 2016. LyondellBasell Industries NV was Downgraded by Atlantic Equities to ” Underweight” on Apr 5, 2016.

On the company’s financial health, LyondellBasell Industries NV reported $2.48 EPS for the quarter, beating the analyst consensus estimate by $ 0.20 according to the earnings call on Apr 22, 2016. Analyst had a consensus of $2.28. The company had revenue of $6743.00 million for the quarter, compared to analysts expectations of $7078.18 million. The company’s revenue was down -17.6 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $2.54 EPS.

LyondellBasell Industries NV opened for trading at $79.11 and hit $81.16 on the upside on Friday, eventually ending the session at $80.47, with a gain of 0.69% or 0.55 points. The heightened volatility saw the trading volume jump to 37,43,037 shares. Company has a market cap of $34,339 M.

In a different news, on Apr 26, 2016, Massimo Covezzi (SVP Research & Development) sold 7,551 shares at $89.14 per share price. According to the SEC, on Apr 26, 2016, Sergey Vasnetsov (SVP Strategic Planning) sold 3,127 shares at $89.89 per share price. On Nov 20, 2015, Jacquelyn H Wolf (SVP, Human Resources) sold 3,394 shares at $94.52 per share price, according to the Form-4 filing with the securities and exchange commission.

LyondellBasell Industries N.V. (LyondellBasell) is a global independent chemical company. The Company operates through five segments: Olefins and Polyolefins-Americas (OandP-Americas) Olefins and Polyolefins-Europe Asia International (OandP-EAI) Intermediates and Derivatives (IandD) Refining and Technology. Its OandP-Americas segment produces and markets olefins including ethylene and ethylene co-products and polyolefin. Its OandP-EAI segment produces and markets olefins including ethylene and ethylene co-products polyolefin and specialty products including polybutene-1 and polypropylene compounds. Its IandD segment produces and markets propylene oxide and its co-products and derivatives acetyls including methanol and ethylene oxide. Its Refining segment refines heavy high-sulfur crude oil. Its Technology segment develops and licenses chemical and polyolefin process technologies and manufactures and sells polyolefin catalysts.

LyondellBasell Industries NV

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