LyondellBasell Industries (NYSE:LYB) Price Target Raised to $66.00

LyondellBasell Industries (NYSE:LYB) had its price objective lifted by Mizuho from $62.00 to $66.00 in a report released on Monday,Benzinga reports. They currently have a neutral rating on the specialty chemicals company’s stock.

Several other research firms have also issued reports on LYB. Wolfe Research upped their target price on LyondellBasell Industries from $38.00 to $62.00 and gave the stock an “underperform” rating in a report on Tuesday, April 14th. UBS Group decreased their price target on LyondellBasell Industries from $82.00 to $73.00 and set a “neutral” rating for the company in a research note on Friday, June 5th. Bank of America lowered their price target on LyondellBasell Industries from $68.00 to $48.00 and set an “underperform” rating on the stock in a research report on Tuesday, June 30th. Wells Fargo & Company raised LyondellBasell Industries from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $80.00 to $98.00 in a report on Thursday, May 28th. Finally, Citigroup decreased their target price on shares of LyondellBasell Industries from $80.00 to $67.00 and set a “buy” rating for the company in a research note on Wednesday, June 24th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, eight have given a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $72.56.

LyondellBasell Industries Stock Down 3.4%

Shares of LYB stock opened at $59.04 on Monday. The company has a current ratio of 1.64, a quick ratio of 1.07 and a debt-to-equity ratio of 1.05. LyondellBasell Industries has a 1 year low of $41.58 and a 1 year high of $83.94. The firm’s fifty day moving average price is $59.99 and its two-hundred day moving average price is $64.08. The firm has a market capitalization of $19.07 billion, a P/E ratio of -52.24, a PEG ratio of 0.19 and a beta of 0.31.

LyondellBasell Industries (NYSE:LYB) last issued its quarterly earnings results on Friday, July 31st. The specialty chemicals company reported $4.30 EPS for the quarter, topping the consensus estimate of $3.44 by $0.86. LyondellBasell Industries had a negative net margin of 1.13% and a positive return on equity of 17.44%. The firm had revenue of $9.18 billion for the quarter, compared to analysts’ expectations of $9.21 billion. During the same period in the previous year, the firm posted $0.62 EPS. The company’s revenue for the quarter was up 19.8% on a year-over-year basis. On average, equities analysts predict that LyondellBasell Industries will post 8.91 EPS for the current fiscal year.

LyondellBasell Industries Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 8th. Investors of record on Monday, June 1st were issued a dividend of $0.69 per share. The ex-dividend date was Monday, June 1st. This represents a $2.76 dividend on an annualized basis and a yield of 4.7%. LyondellBasell Industries’s dividend payout ratio (DPR) is presently -244.25%.

Institutional Trading of LyondellBasell Industries

Several institutional investors and hedge funds have recently bought and sold shares of LYB. Oxbow Advisors LLC bought a new stake in shares of LyondellBasell Industries in the fourth quarter valued at about $4,616,000. Swedbank AB increased its position in LyondellBasell Industries by 16.0% during the fourth quarter. Swedbank AB now owns 242,726 shares of the specialty chemicals company’s stock worth $10,510,000 after acquiring an additional 33,399 shares during the period. Stanley Laman Group Ltd. raised its stake in LyondellBasell Industries by 66.0% in the 4th quarter. Stanley Laman Group Ltd. now owns 53,423 shares of the specialty chemicals company’s stock worth $2,313,000 after purchasing an additional 21,235 shares in the last quarter. Tejara Capital Ltd acquired a new stake in LyondellBasell Industries in the 4th quarter worth about $1,425,000. Finally, Evergreen Capital Management LLC bought a new stake in LyondellBasell Industries in the 4th quarter valued at about $1,003,000. Institutional investors own 71.20% of the company’s stock.

About LyondellBasell Industries

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.