LyondellBasell Industries NV (LYB) reported quarterly earnings results on Friday, Jul-29-2016. The company said it had a profit of $2.56 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.05. Analysts had a consensus of $2.51. The company posted revenue of $7328.00 million in the period, compared to analysts expectations of $7417.28 million. The company’s revenue was down -19.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.81 EPS.
Many Wall Street Analysts have commented on LyondellBasell Industries NV. Shares were Downgraded by RBC Capital Mkts on Jun 27, 2016 to ” Sector Perform” and Lowered the Price Target to $ 84 from a previous price target of $100 .Shares were Downgraded by JP Morgan on Jun 23, 2016 to ” Neutral” and Lowered the Price Target to $ 80 from a previous price target of $100 .Shares were Downgraded by Cowen on Jun 13, 2016 to ” Market Perform” and Lowered the Price Target to $ 87 from a previous price target of $105 .
LyondellBasell Industries NV opened for trading at $77.9 and hit $79.41 on the upside on Thursday, eventually ending the session at $79.02, with a gain of 1.13% or 0.88 points. The heightened volatility saw the trading volume jump to 27,92,588 shares. Company has a market cap of $33,720 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.