Royal Bank of Canada Issues Pessimistic Forecast for LyondellBasell Industries (NYSE:LYB) Stock Price

LyondellBasell Industries (NYSE:LYB) had its price target cut by Royal Bank of Canada from $110.00 to $104.00 in a research report report published on Monday, Benzinga reports. They currently have an outperform rating on the specialty chemicals company’s stock.

Several other brokerages have also commented on LYB. UBS Group dropped their price target on LyondellBasell Industries from $106.00 to $101.00 and set a “neutral” rating for the company in a research note on Tuesday, July 9th. Deutsche Bank Aktiengesellschaft lowered their target price on LyondellBasell Industries from $100.00 to $94.00 and set a “hold” rating for the company in a research note on Monday. Evercore ISI raised LyondellBasell Industries to a “hold” rating in a report on Monday, August 5th. Mizuho reduced their price target on LyondellBasell Industries from $101.00 to $97.00 and set a “neutral” rating for the company in a report on Monday. Finally, Barclays reduced their price target on LyondellBasell Industries from $99.00 to $95.00 and set an “equal weight” rating for the company in a report on Monday. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $100.56.

LyondellBasell Industries Stock Up 1.3 %

LYB opened at $86.44 on Monday. The business’s fifty day moving average is $92.81 and its two-hundred day moving average is $95.71. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.25 and a current ratio of 2.13. The company has a market cap of $28.07 billion, a price-to-earnings ratio of 13.16, a PEG ratio of 1.63 and a beta of 1.08. LyondellBasell Industries has a one year low of $83.36 and a one year high of $107.02.

LyondellBasell Industries (NYSE:LYB) last issued its quarterly earnings data on Friday, November 1st. The specialty chemicals company reported $1.88 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.98 by ($0.10). LyondellBasell Industries had a net margin of 5.29% and a return on equity of 17.05%. The company had revenue of $10.33 billion during the quarter, compared to analysts’ expectations of $10.60 billion. During the same quarter in the prior year, the company earned $2.46 earnings per share. The firm’s revenue was down 2.8% compared to the same quarter last year. Analysts anticipate that LyondellBasell Industries will post 7.38 EPS for the current fiscal year.

LyondellBasell Industries Dividend Announcement

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

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the company. Pacer Advisors Inc. lifted its holdings in 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 worth $461,930,000 after buying an additional 579,300 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of LyondellBasell Industries by 3.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 4,695,361 shares of the specialty chemicals company’s stock worth $449,175,000 after purchasing an additional 170,464 shares during the period. Capital World Investors raised its position in shares of LyondellBasell Industries by 28.9% during the 1st quarter. Capital World Investors now owns 2,675,701 shares of the specialty chemicals company’s stock worth $273,671,000 after purchasing an additional 600,554 shares during the period. Envestnet Asset Management Inc. raised its position in shares of LyondellBasell Industries by 0.6% during the 2nd quarter. Envestnet Asset Management Inc. now owns 1,065,083 shares of the specialty chemicals company’s stock worth $101,886,000 after purchasing an additional 6,760 shares during the period. Finally, Raymond James & Associates raised its position in shares of LyondellBasell Industries by 0.4% during the 3rd quarter. Raymond James & Associates now owns 912,538 shares of the specialty chemicals company’s stock worth $87,512,000 after purchasing an additional 3,394 shares during the period. 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.