LyondellBasell Industries (NYSE:LYB) Upgraded by StockNews.com to “Buy” Rating

StockNews.com upgraded shares of LyondellBasell Industries (NYSE:LYB) from a hold rating to a buy rating in a research report report published on Tuesday morning.

Several other brokerages have also commented on LYB. Mizuho reduced their price objective on LyondellBasell Industries from $97.00 to $85.00 and set a “neutral” rating on the stock in a research report on Monday, December 9th. Deutsche Bank Aktiengesellschaft cut their price objective on shares of LyondellBasell Industries from $100.00 to $94.00 and set a “hold” rating for the company in a research note on Monday, November 4th. Barclays cut their price target on shares of LyondellBasell Industries from $99.00 to $95.00 and set an “equal weight” rating for the company in a research report on Monday, November 4th. Piper Sandler lowered their target price on LyondellBasell Industries from $117.00 to $112.00 and set an “overweight” rating for the company in a research note on Friday, November 8th. Finally, JPMorgan Chase & Co. decreased their price target on LyondellBasell Industries from $100.00 to $90.00 and set an “overweight” rating on the stock in a research note on Friday, December 6th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and six have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $96.27.

LyondellBasell Industries Stock Performance

LyondellBasell Industries stock opened at $74.12 on Tuesday. The firm’s 50 day simple moving average is $82.92 and its 200 day simple moving average is $91.20. The company has a current ratio of 2.13, a quick ratio of 1.25 and a debt-to-equity ratio of 0.81. LyondellBasell Industries has a 1-year low of $72.93 and a 1-year high of $107.02. The firm has a market capitalization of $24.07 billion, a PE ratio of 11.28, a price-to-earnings-growth ratio of 2.16 and a beta of 1.05.

LyondellBasell Industries (NYSE:LYB) last posted 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 business had revenue of $10.33 billion for the quarter, compared to the consensus estimate of $10.60 billion. During the same period in the prior year, the business posted $2.46 EPS. LyondellBasell Industries’s quarterly revenue was down 2.8% on a year-over-year basis. As a group, analysts expect that LyondellBasell Industries will post 7.02 earnings per share for the current fiscal year.

LyondellBasell Industries Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, December 9th. Stockholders 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 annualized dividend and a dividend yield of 7.23%. LyondellBasell Industries’s payout ratio is 81.58%.

Insider Buying and Selling

In other news, Director Robin W.T. Buchanan bought 5,000 shares of the firm’s stock in a transaction on Friday, December 13th. The stock was acquired at an average cost of $76.06 per share, with a total value of $380,300.00. Following the completion of the acquisition, the director now owns 18,175 shares of the company’s stock, valued at approximately $1,382,390.50. This represents a 37.95 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.11% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On LyondellBasell Industries

Several institutional investors and hedge funds have recently made changes to their positions in LYB. CVA Family Office LLC increased its holdings in shares of LyondellBasell Industries by 155.9% in the 3rd quarter. CVA Family Office LLC now owns 261 shares of the specialty chemicals company’s stock worth $25,000 after purchasing an additional 159 shares in the last quarter. Matrix Trust Co purchased a new stake in LyondellBasell Industries in the third quarter worth approximately $30,000. Ashton Thomas Securities LLC purchased a new stake in LyondellBasell Industries during the 3rd quarter valued at $31,000. Fortitude Family Office LLC boosted its stake in shares of LyondellBasell Industries by 162.0% in the 3rd quarter. Fortitude Family Office LLC now owns 469 shares of the specialty chemicals company’s stock worth $45,000 after buying an additional 290 shares during the last quarter. Finally, Gilliland Jeter Wealth Management LLC increased its position in LyondellBasell Industries by 58.0% during the third quarter. Gilliland Jeter Wealth Management LLC now owns 553 shares of the specialty chemicals company’s stock valued at $53,000 after acquiring an additional 203 shares during the last quarter. Institutional investors own 71.20% of the company’s stock.

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.