LyondellBasell Industries (NYSE:LYB) PT Lowered to $110.00

LyondellBasell Industries (NYSE:LYB) had its price target decreased by JPMorgan Chase & Co. from $113.00 to $110.00 in a research report released on Friday morning, Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the specialty chemicals company’s stock.

Several other equities research analysts have also weighed in on LYB. Wells Fargo & Company lowered their price objective on LyondellBasell Industries from $117.00 to $110.00 and set an overweight rating on the stock in a research note on Monday, August 5th. UBS Group dropped their price objective 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 boosted their target price on shares of LyondellBasell Industries from $105.00 to $110.00 and gave the company a hold rating in a research note on Tuesday, August 6th. Finally, Evercore ISI raised shares of LyondellBasell Industries to a hold rating in a report on Monday, August 5th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of Hold and a consensus price target of $107.27.

LyondellBasell Industries Stock Performance

Shares of NYSE LYB opened at $93.18 on Friday. The firm has a market capitalization of $30.34 billion, a price-to-earnings ratio of 14.40, a PEG ratio of 1.28 and a beta of 1.07. LyondellBasell Industries has a one year low of $88.46 and a one year high of $107.02. The business has a fifty day simple moving average of $96.17 and a 200 day simple moving average of $98.19. The company has a current ratio of 2.10, a quick ratio of 1.28 and a debt-to-equity ratio of 0.82.

LyondellBasell Industries (NYSE:LYB) last released its quarterly earnings data on Friday, August 2nd. The specialty chemicals company reported $2.24 EPS for the quarter, topping analysts’ consensus estimates of $2.23 by $0.01. LyondellBasell Industries had a net margin of 5.68% and a return on equity of 18.63%. The company had revenue of $10.56 billion during the quarter, compared to the consensus estimate of $10.44 billion. During the same period last year, the firm earned $2.44 EPS. The firm’s revenue for the quarter was up 2.4% compared to the same quarter last year. Sell-side analysts expect that LyondellBasell Industries will post 8 EPS for the current year.

LyondellBasell Industries Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders 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 dividend yield of 5.75%. LyondellBasell Industries’s payout ratio is currently 82.84%.

Institutional Investors Weigh In On LyondellBasell Industries

Institutional investors have recently made changes to their positions in the stock. Norden Group LLC bought a new stake in shares of LyondellBasell Industries in the 1st quarter valued at about $3,686,000. Sound Income Strategies LLC increased its stake in LyondellBasell Industries by 9.3% in the first quarter. Sound Income Strategies LLC now owns 221,737 shares of the specialty chemicals company’s stock valued at $22,679,000 after purchasing an additional 18,901 shares in the last quarter. State Board of Administration of Florida Retirement System boosted its position in shares of LyondellBasell Industries by 8.4% during the first quarter. State Board of Administration of Florida Retirement System now owns 282,374 shares of the specialty chemicals company’s stock worth $26,512,000 after purchasing an additional 21,809 shares in the last quarter. Brevan Howard Capital Management LP grew its holdings in shares of LyondellBasell Industries by 772.9% in the 4th quarter. Brevan Howard Capital Management LP now owns 20,914 shares of the specialty chemicals company’s stock valued at $1,989,000 after buying an additional 18,518 shares during the period. Finally, Banco Santander S.A. bought a new stake in shares of LyondellBasell Industries in the 1st quarter valued at $3,607,000. 71.20% of the stock is owned by institutional investors and hedge funds.

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.