Brokerages Set LyondellBasell Industries (NYSE:LYB) Price Target at $106.70

Shares of LyondellBasell Industries (NYSE:LYB) have earned a consensus recommendation of “Hold” from the thirteen ratings firms that are covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, eight have given a hold recommendation and four have given a buy recommendation to the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $106.40.

LYB has been the topic of several analyst reports. Evercore ISI raised shares of LyondellBasell Industries to a “hold” rating in a research report on Monday, August 5th. Royal Bank of Canada decreased their target price on shares of LyondellBasell Industries from $112.00 to $110.00 and set an “outperform” rating on the stock in a research report on Friday. Deutsche Bank Aktiengesellschaft boosted their price target 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. Wells Fargo & Company cut their target price on LyondellBasell Industries from $117.00 to $110.00 and set an “overweight” rating on the stock in a research report on Monday, August 5th. Finally, Barclays cut their price objective on LyondellBasell Industries from $101.00 to $99.00 and set an “equal weight” rating on the stock in a report on Monday, October 7th.

Institutional Trading of LyondellBasell Industries

Hedge funds and other institutional investors have recently made changes to their positions in the company. Norden Group LLC acquired a new stake in LyondellBasell Industries during the 1st quarter worth approximately $3,686,000. Sound Income Strategies LLC raised its holdings in LyondellBasell Industries by 9.3% during the first quarter. Sound Income Strategies LLC now owns 221,737 shares of the specialty chemicals company’s stock worth $22,679,000 after purchasing an additional 18,901 shares in the last quarter. State Board of Administration of Florida Retirement System lifted its position in LyondellBasell Industries by 8.4% in the first quarter. State Board of Administration of Florida Retirement System now owns 282,374 shares of the specialty chemicals company’s stock valued at $26,512,000 after purchasing an additional 21,809 shares during the period. Banco Santander S.A. purchased a new stake in LyondellBasell Industries in the 1st quarter valued at approximately $3,607,000. Finally, Foresight Capital Management Advisors Inc. purchased a new position in shares of LyondellBasell Industries during the 2nd quarter worth approximately $1,416,000. Institutional investors and hedge funds own 71.20% of the company’s stock.

LyondellBasell Industries Trading Down 0.9 %

Shares of LyondellBasell Industries stock opened at $93.79 on Friday. LyondellBasell Industries has a twelve month low of $88.46 and a twelve month high of $107.02. The firm’s 50-day moving average price is $95.64 and its 200 day moving average price is $97.41. The company has a current ratio of 2.10, a quick ratio of 1.28 and a debt-to-equity ratio of 0.82. The firm has a market capitalization of $30.54 billion, a PE ratio of 14.50, a P/E/G ratio of 1.32 and a beta of 1.07.

LyondellBasell Industries (NYSE:LYB) last issued its earnings results on Friday, August 2nd. The specialty chemicals company reported $2.24 EPS for the quarter, beating 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 business had revenue of $10.56 billion during the quarter, compared to analysts’ expectations of $10.44 billion. During the same period in the prior year, the business earned $2.44 earnings per share. The company’s quarterly revenue was up 2.4% compared to the same quarter last year. On average, sell-side analysts predict that LyondellBasell Industries will post 7.8 EPS for the current fiscal year.

LyondellBasell Industries Dividend Announcement

The business also recently disclosed 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 of this dividend was Monday, August 26th. This represents a $5.36 annualized dividend and a dividend yield of 5.71%. LyondellBasell Industries’s dividend payout ratio is presently 82.84%.

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.