LyondellBasell Industries (NYSE:LYB) Price Target Raised to $49.00

LyondellBasell Industries (NYSE:LYB) had its price objective lifted by Citigroup from $46.00 to $49.00 in a research report released on Tuesday morning,Benzinga reports. The firm currently has a neutral rating on the specialty chemicals company’s stock.

A number of other brokerages have also weighed in on LYB. Wolfe Research reduced their price target on LyondellBasell Industries from $40.00 to $39.00 and set an “underperform” rating on the stock in a research note on Friday, January 16th. Jefferies Financial Group decreased their price target on LyondellBasell Industries from $50.00 to $46.00 and set a “hold” rating on the stock in a research note on Monday, December 8th. Bank of America dropped their price objective on shares of LyondellBasell Industries from $52.00 to $46.00 and set a “neutral” rating for the company in a research note on Thursday, January 8th. Royal Bank Of Canada raised their target price on shares of LyondellBasell Industries from $44.00 to $49.00 and gave the stock a “sector perform” rating in a research report on Friday, January 16th. Finally, Fermium Researc lowered shares of LyondellBasell Industries from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, December 3rd. One investment analyst has rated the stock with a Buy rating, seventeen have issued a Hold rating and five have given a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Reduce” and an average price target of $51.28.

LyondellBasell Industries Trading Down 5.6%

Shares of LYB stock opened at $53.92 on Tuesday. The company has a market capitalization of $17.36 billion, a price-to-earnings ratio of -23.14, a PEG ratio of 0.39 and a beta of 0.70. The company has a current ratio of 1.77, a quick ratio of 1.20 and a debt-to-equity ratio of 1.20. The firm has a 50-day moving average price of $47.00 and a 200 day moving average price of $49.50. LyondellBasell Industries has a twelve month low of $41.58 and a twelve month high of $78.52.

LyondellBasell Industries (NYSE:LYB) last issued its quarterly earnings results on Friday, January 30th. The specialty chemicals company reported ($0.26) EPS for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.44). The firm had revenue of $7.09 billion for the quarter, compared to analysts’ expectations of $6.82 billion. LyondellBasell Industries had a positive return on equity of 4.94% and a negative net margin of 2.46%.The business’s quarterly revenue was down 9.2% compared to the same quarter last year. During the same quarter last year, the firm earned $0.75 earnings per share. Research analysts forecast that LyondellBasell Industries will post 6.31 earnings per share for the current fiscal year.

LyondellBasell Industries Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, December 8th. Stockholders of record on Monday, December 1st were paid a $1.37 dividend. This represents a $5.48 dividend on an annualized basis and a dividend yield of 10.2%. The ex-dividend date of this dividend was Monday, December 1st. LyondellBasell Industries’s dividend payout ratio (DPR) is currently -235.19%.

Insiders Place Their Bets

In related news, EVP Kimberly A. Foley purchased 5,661 shares of the stock in a transaction that occurred on Wednesday, November 12th. The stock was purchased at an average cost of $43.56 per share, for a total transaction of $246,593.16. Following the acquisition, the executive vice president owned 67,688 shares in the company, valued at approximately $2,948,489.28. This trade represents a 9.13% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.14% of the company’s stock.

Institutional Investors Weigh In On LyondellBasell Industries

Several hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. grew its position in LyondellBasell Industries by 0.3% in the third quarter. Vanguard Group Inc. now owns 30,965,458 shares of the specialty chemicals company’s stock valued at $1,518,546,000 after acquiring an additional 84,251 shares in the last quarter. Dodge & Cox grew its holdings in LyondellBasell Industries by 0.4% during the 2nd quarter. Dodge & Cox now owns 16,969,997 shares of the specialty chemicals company’s stock valued at $981,884,000 after purchasing an additional 73,965 shares in the last quarter. State Street Corp increased its stake in LyondellBasell Industries by 2.1% during the 3rd quarter. State Street Corp now owns 13,182,950 shares of the specialty chemicals company’s stock worth $646,492,000 after buying an additional 267,799 shares during the period. Capital World Investors lifted its holdings in LyondellBasell Industries by 13.1% in the 3rd quarter. Capital World Investors now owns 9,807,743 shares of the specialty chemicals company’s stock worth $480,972,000 after buying an additional 1,135,258 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in LyondellBasell Industries by 2.6% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 9,476,600 shares of the specialty chemicals company’s stock valued at $548,316,000 after buying an additional 237,038 shares during the last quarter. 71.20% of the stock is currently owned by hedge funds and other institutional investors.

LyondellBasell Industries Company Profile

LyondellBasell Industries N.V. (NYSE: LYB) is a global chemical company headquartered in Houston, Texas, that specializes in the production of polyolefins and advanced polymers. Through its extensive portfolio, the company supplies raw materials for a wide range of end markets, including packaging, automotive, construction, electronics and consumer goods. By combining proprietary process technologies with expertise in catalysts, LyondellBasell aims to deliver value-added solutions that enhance product performance and sustainability.

The company’s integrated operations encompass the manufacture of olefins and polyolefins, advanced polymer products, chemical intermediates and refining activities.