LyondellBasell Industries (NYSE:LYB) Price Target Lowered to $61.00 at Royal Bank of Canada

LyondellBasell Industries (NYSE:LYB) had its price objective decreased by Royal Bank of Canada from $62.00 to $61.00 in a research note issued to investors on Tuesday,Benzinga reports. Royal Bank of Canada currently has a sector perform rating on the specialty chemicals company’s stock.

LYB has been the subject of several other reports. UBS Group reiterated a “sell” rating and set a $51.00 target price (down from $76.00) on shares of LyondellBasell Industries in a research note on Monday, April 7th. Wells Fargo & Company cut their price objective on shares of LyondellBasell Industries from $90.00 to $85.00 and set an “overweight” rating for the company in a research report on Friday, April 4th. Citigroup decreased their target price on LyondellBasell Industries from $66.00 to $58.00 and set a “neutral” rating on the stock in a research report on Tuesday. Morgan Stanley cut their price target on LyondellBasell Industries from $90.00 to $85.00 and set an “overweight” rating for the company in a report on Tuesday, February 4th. Finally, Piper Sandler reduced their price objective on LyondellBasell Industries from $84.00 to $67.00 and set a “neutral” rating for the company in a research report on Monday, April 7th. Three investment analysts have rated the stock with a sell rating, nine have given a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $74.00.

LyondellBasell Industries Stock Up 0.2 %

LYB stock opened at $58.81 on Tuesday. The stock has a market capitalization of $18.99 billion, a price-to-earnings ratio of 14.21, a price-to-earnings-growth ratio of 0.97 and a beta of 0.89. The company has a 50-day moving average of $66.94 and a two-hundred day moving average of $75.33. LyondellBasell Industries has a 52-week low of $51.11 and a 52-week high of $107.02. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.83 and a quick ratio of 1.13.

LyondellBasell Industries (NYSE:LYB) last released its earnings results on Friday, April 25th. The specialty chemicals company reported $0.33 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.03). The business had revenue of $7.68 billion during the quarter, compared to analyst estimates of $7.69 billion. LyondellBasell Industries had a net margin of 3.39% and a return on equity of 15.97%. The business’s quarterly revenue was down 7.6% compared to the same quarter last year. During the same period last year, the business earned $1.53 EPS. As a group, equities research analysts anticipate that LyondellBasell Industries will post 6.31 EPS for the current year.

LyondellBasell Industries Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 10th were given a $1.34 dividend. This represents a $5.36 dividend on an annualized basis and a yield of 9.11%. The ex-dividend date was Monday, March 10th. LyondellBasell Industries’s dividend payout ratio (DPR) is 165.43%.

Insider Buying and Selling at LyondellBasell Industries

In other LyondellBasell Industries news, Director Michael Sean Hanley bought 3,750 shares of LyondellBasell Industries stock in a transaction dated Wednesday, March 12th. The shares were acquired at an average cost of $72.05 per share, with a total value of $270,187.50. Following the acquisition, the director now directly owns 16,028 shares of the company’s stock, valued at $1,154,817.40. The trade was a 30.54 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.14% of the company’s stock.

Hedge Funds Weigh In On LyondellBasell Industries

Several institutional investors have recently bought and sold shares of the business. Vident Advisory LLC increased its stake in shares of LyondellBasell Industries by 0.8% in the fourth quarter. Vident Advisory LLC now owns 16,123 shares of the specialty chemicals company’s stock valued at $1,197,000 after buying an additional 131 shares in the last quarter. Webster Bank N. A. increased its position in LyondellBasell Industries by 70.4% in the 4th quarter. Webster Bank N. A. now owns 346 shares of the specialty chemicals company’s stock valued at $26,000 after acquiring an additional 143 shares in the last quarter. Cairn Investment Group Inc. raised its stake in shares of LyondellBasell Industries by 0.4% in the fourth quarter. Cairn Investment Group Inc. now owns 42,147 shares of the specialty chemicals company’s stock worth $3,130,000 after acquiring an additional 155 shares during the last quarter. Alliance Wealth Advisors LLC UT lifted its position in shares of LyondellBasell Industries by 5.2% during the fourth quarter. Alliance Wealth Advisors LLC UT now owns 3,608 shares of the specialty chemicals company’s stock worth $268,000 after purchasing an additional 177 shares in the last quarter. Finally, NewSquare Capital LLC grew its stake in shares of LyondellBasell Industries by 0.3% during the first quarter. NewSquare Capital LLC now owns 70,986 shares of the specialty chemicals company’s stock valued at $4,932,000 after purchasing an additional 193 shares during the last quarter. Institutional investors own 71.20% of the company’s stock.

About LyondellBasell Industries

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.