LyondellBasell Industries (NYSE:LYB) Price Target Cut to $101.00

LyondellBasell Industries (NYSE:LYB) had its price objective decreased by UBS Group from $106.00 to $101.00 in a research report released on Tuesday, Benzinga reports. UBS Group currently has a neutral rating on the specialty chemicals company’s stock.

LYB has been the subject of a number of other reports. Wells Fargo & Company lifted their price target on shares of LyondellBasell Industries from $105.00 to $117.00 and gave the stock an overweight rating in a research note on Tuesday, April 2nd. Citigroup boosted their target price on shares of LyondellBasell Industries from $96.00 to $104.00 and gave the company a neutral rating in a research report on Wednesday, April 10th. JPMorgan Chase & Co. boosted their target price on shares of LyondellBasell Industries from $100.00 to $105.00 and gave the company an overweight rating in a research report on Friday, March 22nd. Mizuho boosted their target price on shares of LyondellBasell Industries from $98.00 to $108.00 and gave the company a neutral rating in a research report on Monday, April 29th. Finally, Royal Bank of Canada lifted their price target on shares of LyondellBasell Industries from $107.00 to $113.00 and gave the company an outperform rating in a report on Monday, April 29th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of Hold and an average target price of $104.77.

LyondellBasell Industries Stock Up 1.4 %

NYSE:LYB opened at $94.16 on Tuesday. The firm has a market cap of $30.66 billion, a P/E ratio of 14.55, a P/E/G ratio of 1.17 and a beta of 1.09. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.32 and a current ratio of 2.12. LyondellBasell Industries has a fifty-two week low of $88.46 and a fifty-two week high of $107.02. The firm has a 50-day simple moving average of $97.03 and a two-hundred day simple moving average of $97.90.

LyondellBasell Industries (NYSE:LYB) last released its quarterly earnings data on Friday, April 26th. The specialty chemicals company reported $1.53 earnings per share for the quarter, beating analysts’ consensus estimates of $1.36 by $0.17. The business had revenue of $9.93 billion during the quarter, compared to analyst estimates of $9.70 billion. LyondellBasell Industries had a net margin of 5.20% and a return on equity of 19.31%. LyondellBasell Industries’s revenue was down 3.1% compared to the same quarter last year. During the same period last year, the business earned $2.50 EPS. Analysts predict that LyondellBasell Industries will post 8.5 earnings per share for the current fiscal year.

LyondellBasell Industries Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 10th. Investors of record on Monday, June 3rd were given a $1.34 dividend. This represents a $5.36 annualized dividend and a yield of 5.69%. The ex-dividend date was Monday, June 3rd. This is a boost from LyondellBasell Industries’s previous quarterly dividend of $1.25. LyondellBasell Industries’s payout ratio is currently 82.84%.

Institutional Investors Weigh In On LyondellBasell Industries

Several large investors have recently bought and sold shares of the business. CX Institutional increased its position in LyondellBasell Industries by 0.4% in the second quarter. CX Institutional now owns 35,921 shares of the specialty chemicals company’s stock worth $3,436,000 after purchasing an additional 157 shares during the last quarter. Foresight Capital Management Advisors Inc. bought a new stake in LyondellBasell Industries in the second quarter worth $1,416,000. NBC Securities Inc. increased its position in LyondellBasell Industries by 14.3% in the second quarter. NBC Securities Inc. now owns 10,540 shares of the specialty chemicals company’s stock worth $1,008,000 after purchasing an additional 1,318 shares during the last quarter. RDA Financial Network increased its position in LyondellBasell Industries by 3.9% in the second quarter. RDA Financial Network now owns 3,274 shares of the specialty chemicals company’s stock worth $313,000 after purchasing an additional 122 shares during the last quarter. Finally, CWM LLC increased its position in LyondellBasell Industries by 15.0% during the second quarter. CWM LLC now owns 7,335 shares of the specialty chemicals company’s stock valued at $702,000 after acquiring an additional 954 shares during the last quarter. Institutional investors own 71.20% of the company’s stock.

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.