LyondellBasell Industries N.V. (NYSE:LYB) Receives $64.00 Consensus Target Price from Analysts

LyondellBasell Industries N.V. (NYSE:LYB) has been assigned an average recommendation of “Hold” from the sixteen ratings firms that are currently covering the stock, MarketBeat.com reports. Two research analysts have rated the stock with a sell recommendation, ten have given a hold recommendation, three have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $63.7333.

A number of analysts recently weighed in on LYB shares. Royal Bank Of Canada cut their target price on shares of LyondellBasell Industries from $64.00 to $54.00 and set a “sector perform” rating on the stock in a research note on Tuesday, August 5th. Mizuho upped their target price on shares of LyondellBasell Industries from $65.00 to $67.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 15th. Citigroup dropped their price target on shares of LyondellBasell Industries from $53.00 to $49.00 and set a “neutral” rating on the stock in a research note on Thursday. Wells Fargo & Company dropped their price target on shares of LyondellBasell Industries from $75.00 to $65.00 and set an “overweight” rating on the stock in a research note on Monday, August 4th. Finally, Bank Of America (Bofa) dropped their price target on shares of LyondellBasell Industries from $56.00 to $55.00 in a research note on Monday, June 30th.

LyondellBasell Industries Stock Up 1.8%

LYB stock opened at $49.30 on Friday. The company’s 50 day moving average price is $53.77 and its 200 day moving average price is $58.22. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.04 and a current ratio of 1.77. LyondellBasell Industries has a fifty-two week low of $47.55 and a fifty-two week high of $96.81. The firm has a market capitalization of $15.86 billion, a price-to-earnings ratio of 64.03 and a beta of 0.87.

LyondellBasell Industries (NYSE:LYB) last released its earnings results on Friday, August 1st. The specialty chemicals company reported $0.62 earnings per share for the quarter, missing analysts’ consensus estimates of $0.87 by ($0.25). LyondellBasell Industries had a return on equity of 9.35% and a net margin of 0.74%.The firm had revenue of $7.66 billion for the quarter, compared to analysts’ expectations of $7.58 billion. During the same quarter in the previous year, the company posted $2.24 earnings per share. The firm’s quarterly revenue was down 11.8% on a year-over-year basis. On average, equities research analysts anticipate that LyondellBasell Industries will post 6.31 EPS for the current fiscal year.

LyondellBasell Industries Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Monday, August 25th were paid a $1.37 dividend. This represents a $5.48 annualized dividend and a yield of 11.1%. The ex-dividend date was Monday, August 25th. LyondellBasell Industries’s dividend payout ratio is currently 711.69%.

Insider Buying and Selling

In other LyondellBasell Industries news, CEO Peter Z. E. Vanacker sold 20,000 shares of the stock in a transaction that occurred on Friday, August 15th. The shares were sold at an average price of $53.57, for a total value of $1,071,400.00. Following the transaction, the chief executive officer directly owned 160,351 shares in the company, valued at $8,590,003.07. This represents a 11.09% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.14% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On LyondellBasell Industries

Several hedge funds have recently added to or reduced their stakes in the stock. Crews Bank & Trust boosted its position in LyondellBasell Industries by 16.4% in the 2nd quarter. Crews Bank & Trust now owns 1,245 shares of the specialty chemicals company’s stock valued at $72,000 after buying an additional 175 shares during the last quarter. NewSquare Capital LLC boosted its position in LyondellBasell Industries by 0.3% in the 1st quarter. NewSquare Capital LLC now owns 70,986 shares of the specialty chemicals company’s stock valued at $4,932,000 after buying an additional 193 shares during the last quarter. New York Life Investment Management LLC boosted its position in LyondellBasell Industries by 0.5% in the 2nd quarter. New York Life Investment Management LLC now owns 38,521 shares of the specialty chemicals company’s stock valued at $2,229,000 after buying an additional 193 shares during the last quarter. Forza Wealth Management LLC boosted its position in LyondellBasell Industries by 1.6% in the 1st quarter. Forza Wealth Management LLC now owns 12,705 shares of the specialty chemicals company’s stock valued at $894,000 after buying an additional 200 shares during the last quarter. Finally, Central Pacific Bank Trust Division boosted its position in LyondellBasell Industries by 4.3% in the 2nd quarter. Central Pacific Bank Trust Division now owns 4,830 shares of the specialty chemicals company’s stock valued at $279,000 after buying an additional 200 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. 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.