The IBD SmartSelect Composite Rating for LyondellBasell Industries increased from a really good 94 rating to a superb 96 Thursday. The highly ranked maker of plastics, fuels and manufacturing technologies is slated to get a new CEO in June.
LyondellBasell Stock Tops All But 4%
The new rating is a sign the stock is outpacing 96% of all stocks when it comes to the most important stock-picking criteria. History shows top market performers tend to have a 95 or higher score as they launch their major climbs.
On Dec. 13 the company said that Peter Vanacker will take the reins as chief executive in June. He replaces former CEO Bhavesh Patel, who is retiring. Vanacker, a 30-year industry veteran, was previously the president and CEO of Neste, a Finland-based oil company.
LyondellBasell stock broke out earlier, but has fallen back below the prior 108.39 entry from a cup with handle.
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Among its other key ratings, Netherlands-based LyondellBasell has an 80 EPS Rating, meaning its recent quarterly and annual earnings growth is outpacing 80% of all stocks. LyondellBasell stock also boasts a 90 Relative Strength Rating, putting it in the top 10% of stocks for price performance.
LyondellBasell stock's Accumulation/Distribution Rating of D- shows moderate selling by institutional investors over the last 13 weeks. Look for the rating to improve to at least a C or better.
The company reported 26% earning growth for Q1, to $4 per share. Sales climbed 45% to $1.32 billion. Although still strong, that's down from 62% growth the prior quarter.
LyondellBasell stock earns the No. 3 rank among its peers in the Chemicals-Basic industry group. Westlake is the top-ranked stock in the group.
