Could Celanese Corporation Rise More? The Stock Had Bearish Options Activity

 Could Celanese Corporation Rise More? The Stock Had Bearish Options Activity

In today’s session Celanese Corporation (CE) recorded an unusually high (786) contracts volume of put trades. Someone, most probably a professional was a very active buyer of the October, 2016 put, expecting serious CE decrease. With 786 contracts traded and 12734 open interest for the Oct, 16 contract, it seems this is a quite bearish bet. The option with symbol: CE161021P00062500 closed last at: $1.25 or 10.7% down. About 412,028 shares traded hands. Celanese Corporation (NYSE:CE) has risen 6.85% since March 16, 2016 and is uptrending. It has outperformed by 1.31% the S&P500.

Celanese Corporation (NYSE:CE) Ratings Coverage

Out of 10 analysts covering Celanese (NYSE:CE), 6 rate it a “Buy”, 0 “Sell”, while 4 “Hold”. This means 60% are positive. $81 is the highest target while $64 is the lowest. The $72.22 average target is 2.82% above today’s ($70.24) stock price. Celanese has been the topic of 24 analyst reports since September 1, 2015 according to StockzIntelligence Inc. On Tuesday, September 1 the stock rating was downgraded by Zacks to “Buy”. Citigroup maintained Celanese Corporation (NYSE:CE) on Friday, July 15 with “Buy” rating. Goldman Sachs downgraded the shares of CE in a report on Monday, October 12 to “Neutral” rating. Cowen & Co maintained it with “Market Perform” rating and $66 target price in Friday, January 29 report. The stock of Celanese Corporation (NYSE:CE) earned “Overweight” rating by Barclays Capital on Monday, January 25. The rating was maintained by Barclays Capital with “Overweight” on Wednesday, July 27. The rating was maintained by RBC Capital Markets with “Sector Perform” on Monday, November 16. The firm has “Buy” rating by Deutsche Bank given on Wednesday, November 18. The rating was initiated by Susquehanna with “Positive” on Friday, July 1. The stock of Celanese Corporation (NYSE:CE) has “Sector Perform” rating given on Wednesday, October 21 by RBC Capital Markets.

According to Zacks Investment Research, “Celanese is an integrated global producer of value-added industrial chemicals. They are the world’s largest producer of acetyl products, including acetic acid, vinyl acetate monomer and polyacetals and a leading global producer of high-performance engineered polymers used in consumer and industrial products and designed to meet highly technical customer requirements. Their operations are located in North America, Europe and Asia, including substantial joint ventures in China.”

Insitutional Activity: The institutional sentiment increased to 1.39 in Q2 2016. Its up 0.23, from 1.16 in 2016Q1. The ratio improved, as 24 funds sold all Celanese Corporation shares owned while 116 reduced positions. 41 funds bought stakes while 153 increased positions. They now own 137.11 million shares or 5.90% less from 145.72 million shares in 2016Q1.
The Pennsylvania-based Federated Invsts Inc Pa has invested 0.03% in Celanese Corporation (NYSE:CE). Moreover, Lazard Asset Management Limited Liability has 0% invested in Celanese Corporation (NYSE:CE) for 193 shares. Lsv Asset Management, a Illinois-based fund reported 2.12M shares. Hsbc Holdings Public Limited Co reported 78,148 shares or 0.01% of all its holdings. Old Mutual Global Invsts (Uk) has 207,703 shares for 0.25% of their US portfolio. Gmt Capital holds 7.89% or 4.98 million shares in its portfolio. The New York-based Art Advsrs Ltd Liability Corp has invested 0.33% in Celanese Corporation (NYSE:CE). Wellington Group Llp accumulated 8.00 million shares or 0.14% of the stock. Ent Finance last reported 43 shares in the company. Meiji Yasuda Life has 0.13% invested in the company for 12,890 shares. The Minnesota-based Thrivent Financial For Lutherans has invested 0.08% in Celanese Corporation (NYSE:CE). Twin Capital Mgmt Incorporated has 7,650 shares for 0.04% of their US portfolio. Shell Asset Management last reported 35,146 shares in the company. Fund Mngmt last reported 272,328 shares in the company. Penobscot Mgmt last reported 6,750 shares in the company.

Celanese Corporation is a technology and specialty materials company. The company has a market cap of $11.09 billion. The Firm operates through four divisions: Advanced Engineered Materials, Consumer Specialties, Industrial Specialties and Acetyl Intermediates. It has a 23.14 P/E ratio. The Company’s business involves processing chemical raw materials, such as methanol, carbon monoxide, ethylene and natural products, including wood pulp, into chemicals, thermoplastic polymers and other chemical products.

CE Company Profile

Celanese Corporation (Celanese), incorporated on November 3, 2004, is a technology and specialty materials company. The Firm operates through four divisions: Advanced Engineered Materials, Consumer Specialties, Industrial Specialties and Acetyl Intermediates. The Company’s business involves processing chemical raw materials, such as methanol, carbon monoxide, ethylene and natural products, including wood pulp into chemicals, thermoplastic polymers and other chemical products. The Firm engineers and makes a range of products, which serves a range of end-use applications, including paints and coatings, textiles, automotive applications, consumer and medical applications, performance industrial applications, filtration applications, paper and packaging, chemical additives, construction, consumer and industrial adhesives, and food and beverage applications. The Firm operates in North America, Europe and Asia, and consists of approximately 20 global production facilities, and approximately eight additional strategic affiliate production facilities.

More important recent Celanese Corporation (NYSE:CE) news were published by: Businesswire.com which released: “Celanese Corporation Reports Third Quarter Earnings; Maintains 2016 Outlook” on October 17, 2016, also Businesswire.com published article titled: “Celanese Announces Vinyl Acetate Based Emulsions Price Increase in Americas”, Streetinsider.com published: “Celanese Corp. (CE) Enters Agreement to Acquire Italy-Based SO.F.TER. Group” on October 17, 2016. More interesting news about Celanese Corporation (NYSE:CE) was released by: Businesswire.com and their article: “Celanese Corporation Announces Pricing of Senior Notes Offering” with publication date: September 19, 2016.

Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with our FREE daily email newsletter.

Tags: , ,

Related posts

Leave a Comment