JPMorgan Chase & Co. Cuts LyondellBasell Industries (NYSE:LYB) Price Target to $110.00

LyondellBasell Industries (NYSE:LYB) had its price target decreased by JPMorgan Chase & Co. from $113.00 to $110.00 in a research report report published on Friday, Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the specialty chemicals company’s stock.

LYB has been the subject of several other reports. Deutsche Bank Aktiengesellschaft raised their target price on shares of LyondellBasell Industries from $105.00 to $110.00 and gave the company a hold rating in a research note on Tuesday, August 6th. Wells Fargo & Company reduced their target price on LyondellBasell Industries from $117.00 to $110.00 and set an overweight rating on the stock in a report on Monday, August 5th. Evercore ISI raised LyondellBasell Industries to a hold rating in a research note on Monday, August 5th. Finally, UBS Group reduced their price objective on LyondellBasell Industries from $106.00 to $101.00 and set a neutral rating on the stock in a research note on Tuesday, July 9th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of Hold and a consensus price target of $107.27.

LyondellBasell Industries Stock Performance

Shares of NYSE LYB opened at $93.18 on Friday. The stock has a market cap of $30.34 billion, a PE ratio of 14.40, a price-to-earnings-growth ratio of 1.28 and a beta of 1.07. LyondellBasell Industries has a 1 year low of $88.46 and a 1 year high of $107.02. The firm has a fifty day moving average price of $96.17 and a 200-day moving average price of $98.20. The company has a debt-to-equity ratio of 0.82, a current ratio of 2.10 and a quick ratio of 1.28.

LyondellBasell Industries (NYSE:LYB) last issued its earnings results on Friday, August 2nd. The specialty chemicals company reported $2.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.23 by $0.01. LyondellBasell Industries had a return on equity of 18.63% and a net margin of 5.68%. The company had revenue of $10.56 billion for the quarter, compared to the consensus estimate of $10.44 billion. During the same quarter last year, the company earned $2.44 EPS. The firm’s quarterly revenue was up 2.4% on a year-over-year basis. Equities analysts anticipate that LyondellBasell Industries will post 8 earnings per share for the current fiscal year.

LyondellBasell Industries Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Monday, August 26th were issued a dividend of $1.34 per share. The ex-dividend date of this dividend was Monday, August 26th. This represents a $5.36 annualized dividend and a yield of 5.75%. LyondellBasell Industries’s payout ratio is presently 82.84%.

Institutional Investors Weigh In On LyondellBasell Industries

Several institutional investors have recently made changes to their positions in LYB. Norden Group LLC bought a new position in LyondellBasell Industries during the 1st quarter valued at about $3,686,000. Sound Income Strategies LLC boosted its position in shares of LyondellBasell Industries by 9.3% during the first quarter. Sound Income Strategies LLC now owns 221,737 shares of the specialty chemicals company’s stock valued at $22,679,000 after buying an additional 18,901 shares during the period. State Board of Administration of Florida Retirement System grew its stake in shares of LyondellBasell Industries by 8.4% during the first quarter. State Board of Administration of Florida Retirement System now owns 282,374 shares of the specialty chemicals company’s stock valued at $26,512,000 after buying an additional 21,809 shares during the last quarter. Brevan Howard Capital Management LP raised its holdings in shares of LyondellBasell Industries by 772.9% in the fourth quarter. Brevan Howard Capital Management LP now owns 20,914 shares of the specialty chemicals company’s stock worth $1,989,000 after buying an additional 18,518 shares during the period. Finally, Banco Santander S.A. bought a new stake in shares of LyondellBasell Industries during the 1st quarter worth approximately $3,607,000. Institutional investors own 71.20% of the company’s stock.

LyondellBasell Industries Company Profile

LyondellBasell Industries N.V. operates as a chemical company in the United States, Germany, Mexico, Italy, Poland, France, Japan, China, the Netherlands, and internationally. The company operates in six segments: Olefins and PolyolefinsAmericas; Olefins and PolyolefinsEurope, Asia, International; Intermediates and Derivatives; Advanced Polymer Solutions; Refining; and Technology.