LyondellBasell Industries (NYSE:LYB) Given New $90.00 Price Target at Royal Bank of Canada

LyondellBasell Industries (NYSE:LYB) had its price target increased by Royal Bank of Canada from $82.00 to $90.00 in a research report report published on Tuesday morning,Benzinga reports. Royal Bank of Canada currently has an outperform rating on the specialty chemicals company’s stock.

Several other analysts also recently commented on the stock. Deutsche Bank Aktiengesellschaft dropped their target price on shares of LyondellBasell Industries from $100.00 to $94.00 and set a “hold” rating on the stock in a report on Monday, November 4th. StockNews.com downgraded shares of LyondellBasell Industries from a “buy” rating to a “hold” rating in a report on Wednesday, January 8th. Barclays dropped their target price on shares of LyondellBasell Industries from $90.00 to $80.00 and set an “equal weight” rating on the stock in a report on Monday. UBS Group dropped their target price on shares of LyondellBasell Industries from $77.00 to $76.00 and set a “neutral” rating on the stock in a report on Monday. Finally, Wells Fargo & Company dropped their target price on shares of LyondellBasell Industries from $95.00 to $90.00 and set an “overweight” rating on the stock in a report on Monday. Two analysts have rated the stock with a sell rating, nine have given a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $89.17.

LyondellBasell Industries Stock Up 2.6 %

LyondellBasell Industries stock opened at $78.25 on Tuesday. The company’s 50 day simple moving average is $76.30 and its 200 day simple moving average is $86.97. LyondellBasell Industries has a fifty-two week low of $72.21 and a fifty-two week high of $107.02. The firm has a market capitalization of $25.41 billion, a price-to-earnings ratio of 18.90, a PEG ratio of 5.11 and a beta of 1.05. 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 quarterly earnings data on Friday, January 31st. The specialty chemicals company reported $0.75 earnings per share for the quarter, missing the consensus estimate of $1.28 by ($0.53). LyondellBasell Industries had a return on equity of 15.97% and a net margin of 3.39%. During the same quarter in the prior year, the business posted $1.26 EPS. As a group, sell-side analysts anticipate that LyondellBasell Industries will post 7.4 EPS for the current year.

LyondellBasell Industries Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, December 9th. Investors of record on Monday, December 2nd were issued a dividend of $1.34 per share. The ex-dividend date was Monday, December 2nd. This represents a $5.36 dividend on an annualized basis and a yield of 6.85%. LyondellBasell Industries’s payout ratio is 129.47%.

Insider Buying and Selling

In related news, Director Robin W.T. Buchanan acquired 5,000 shares of LyondellBasell Industries stock in a transaction on Friday, December 13th. The stock was purchased at an average cost of $76.06 per share, with a total value of $380,300.00. Following the completion of the transaction, the director now directly owns 18,175 shares in the company, valued at $1,382,390.50. This trade represents a 37.95 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.11% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On LyondellBasell Industries

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Petredis Investment Advisors LLC boosted its position in shares of LyondellBasell Industries by 0.5% in the third quarter. Petredis Investment Advisors LLC now owns 23,100 shares of the specialty chemicals company’s stock valued at $2,215,000 after acquiring an additional 116 shares during the period. Castleview Partners LLC boosted its position in shares of LyondellBasell Industries by 7.2% in the third quarter. Castleview Partners LLC now owns 2,023 shares of the specialty chemicals company’s stock valued at $194,000 after acquiring an additional 136 shares during the period. Webster Bank N. A. boosted its position in shares of LyondellBasell Industries by 70.4% in the fourth 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 during the period. Oliver Luxxe Assets LLC boosted its position in shares of LyondellBasell Industries by 0.7% in the third quarter. Oliver Luxxe Assets LLC now owns 22,184 shares of the specialty chemicals company’s stock valued at $2,127,000 after acquiring an additional 146 shares during the period. Finally, Cairn Investment Group Inc. boosted its position 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 valued at $3,130,000 after acquiring an additional 155 shares during the period. 71.20% of the stock is owned by 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.