Mizuho Issues Pessimistic Forecast for LyondellBasell Industries (NYSE:LYB) Stock Price

LyondellBasell Industries (NYSE:LYB) had its price target lowered by Mizuho from $101.00 to $97.00 in a research report report published on Monday, Benzinga reports. The brokerage currently has a neutral rating on the specialty chemicals company’s stock.

Several other research analysts have also recently weighed in on LYB. Evercore ISI raised LyondellBasell Industries to a “hold” rating in a research note on Monday, August 5th. Barclays dropped their target price on shares of LyondellBasell Industries from $99.00 to $95.00 and set an “equal weight” rating on the stock in a report on Monday. Deutsche Bank Aktiengesellschaft raised their target price on shares of LyondellBasell Industries from $105.00 to $110.00 and gave the stock a “hold” rating in a report on Tuesday, August 6th. JPMorgan Chase & Co. dropped their price target on LyondellBasell Industries from $113.00 to $110.00 and set an “overweight” rating on the stock in a report on Friday, September 13th. Finally, Royal Bank of Canada reduced their price objective on LyondellBasell Industries from $112.00 to $110.00 and set an “outperform” rating for the company in a research note on Friday, October 11th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and four have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $100.56.

LyondellBasell Industries Price Performance

Shares of LYB opened at $86.44 on Monday. LyondellBasell Industries has a 12 month low of $83.36 and a 12 month high of $107.02. The company has a market cap of $28.07 billion, a P/E ratio of 13.16, a PEG ratio of 1.63 and a beta of 1.08. The company has a debt-to-equity ratio of 0.81, a current ratio of 2.13 and a quick ratio of 1.25. The stock has a fifty day moving average price of $92.81 and a 200 day moving average price of $95.71.

LyondellBasell Industries (NYSE:LYB) last announced its quarterly earnings results on Friday, November 1st. The specialty chemicals company reported $1.88 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.98 by ($0.10). LyondellBasell Industries had a return on equity of 17.05% and a net margin of 5.29%. The business had revenue of $10.33 billion for the quarter, compared to analyst estimates of $10.60 billion. During the same quarter last year, the firm posted $2.46 EPS. The company’s revenue was down 2.8% compared to the same quarter last year. On average, research analysts forecast that LyondellBasell Industries will post 7.38 earnings per share for the current year.

LyondellBasell Industries Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Monday, August 26th were given a dividend of $1.34 per share. The ex-dividend date was Monday, August 26th. This represents a $5.36 dividend on an annualized basis and a yield of 6.20%. LyondellBasell Industries’s payout ratio is 81.58%.

Institutional Investors Weigh In On LyondellBasell Industries

Hedge funds and other institutional investors have recently made changes to their positions in the company. Capital World Investors increased its holdings in LyondellBasell Industries by 28.9% in the first quarter. Capital World Investors now owns 2,675,701 shares of the specialty chemicals company’s stock worth $273,671,000 after buying an additional 600,554 shares during the last quarter. Ilex Capital Partners UK LLP acquired a new position in shares of LyondellBasell Industries during the 1st quarter worth $61,327,000. Pacer Advisors Inc. raised its holdings in shares of LyondellBasell Industries by 13.6% during the 2nd quarter. Pacer Advisors Inc. now owns 4,828,869 shares of the specialty chemicals company’s stock valued at $461,930,000 after purchasing an additional 579,300 shares in the last quarter. Ensign Peak Advisors Inc lifted its stake in shares of LyondellBasell Industries by 80.7% in the 2nd quarter. Ensign Peak Advisors Inc now owns 779,040 shares of the specialty chemicals company’s stock valued at $74,523,000 after purchasing an additional 347,877 shares during the last quarter. Finally, WINTON GROUP Ltd bought a new stake in LyondellBasell Industries in the second quarter worth $17,683,000. 71.20% of the stock is owned by hedge funds and other institutional investors.

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.