LyondellBasell Industries (NYSE:LYB) Price Target Lowered to $72.00 at Barclays

LyondellBasell Industries (NYSE:LYB) had its price objective reduced by Barclays from $80.00 to $72.00 in a research report released on Tuesday morning,Benzinga reports. They currently have an equal weight rating on the specialty chemicals company’s stock.

A number of other research analysts have also recently issued reports on the company. StockNews.com cut LyondellBasell Industries from a “buy” rating to a “hold” rating in a research note on Wednesday, January 8th. Piper Sandler dropped their target price on shares of LyondellBasell Industries from $95.00 to $84.00 and set a “neutral” rating on the stock in a research note on Thursday, February 13th. Wells Fargo & Company reduced their price target on shares of LyondellBasell Industries from $95.00 to $90.00 and set an “overweight” rating for the company in a research report on Monday, February 3rd. The Goldman Sachs Group reduced their target price on LyondellBasell Industries from $96.00 to $86.00 and set a “sell” rating for the company in a report on Thursday, December 12th. Finally, JPMorgan Chase & Co. lowered their price target on LyondellBasell Industries from $90.00 to $80.00 and set an “overweight” rating on the stock in a report on Tuesday, February 4th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $87.58.

LyondellBasell Industries Trading Down 10.8 %

NYSE LYB opened at $63.04 on Tuesday. The firm has a market capitalization of $20.39 billion, a PE ratio of 15.23, a P/E/G ratio of 0.97 and a beta of 1.06. The stock’s 50 day moving average is $74.87 and its 200 day moving average is $80.59. LyondellBasell Industries has a twelve month low of $62.92 and a twelve month high of $107.02. The company has a quick ratio of 1.13, a current ratio of 1.83 and a debt-to-equity ratio of 0.84.

LyondellBasell Industries (NYSE:LYB) last announced its earnings results on Friday, January 31st. The specialty chemicals company reported $0.75 earnings per share for the quarter, missing analysts’ consensus estimates of $1.28 by ($0.53). LyondellBasell Industries had a net margin of 3.39% and a return on equity of 15.97%. During the same quarter in the prior year, the company posted $1.26 EPS. Research analysts forecast that LyondellBasell Industries will post 6.31 earnings per share for the current fiscal year.

LyondellBasell Industries Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 10th were issued a dividend of $1.34 per share. This represents a $5.36 annualized dividend and a dividend yield of 8.50%. The ex-dividend date was Monday, March 10th. LyondellBasell Industries’s dividend payout ratio (DPR) is presently 129.47%.

Insider Transactions at LyondellBasell Industries

In related news, Director Michael Sean Hanley bought 3,750 shares of the company’s stock in a transaction on Wednesday, March 12th. The shares were acquired at an average cost of $72.05 per share, for a total transaction of $270,187.50. Following the purchase, the director now directly owns 16,028 shares of the company’s stock, valued at approximately $1,154,817.40. The trade was a 30.54 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 0.11% of the company’s stock.

Institutional Trading of LyondellBasell Industries

Several institutional investors and hedge funds have recently modified their holdings of LYB. Dodge & Cox increased its holdings in LyondellBasell Industries by 5.3% during the 4th quarter. Dodge & Cox now owns 16,965,832 shares of the specialty chemicals company’s stock worth $1,260,052,000 after purchasing an additional 851,365 shares during the period. State Street Corp increased its stake in shares of LyondellBasell Industries by 1.9% during the third quarter. State Street Corp now owns 12,202,118 shares of the specialty chemicals company’s stock valued at $1,170,183,000 after buying an additional 230,327 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in shares of LyondellBasell Industries by 7.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 8,582,119 shares of the specialty chemicals company’s stock valued at $637,394,000 after acquiring an additional 558,137 shares in the last quarter. Geode Capital Management LLC lifted its stake in LyondellBasell Industries by 3.0% in the fourth quarter. Geode Capital Management LLC now owns 6,804,205 shares of the specialty chemicals company’s stock worth $512,913,000 after acquiring an additional 199,054 shares during the period. Finally, Invesco Ltd. grew its holdings in LyondellBasell Industries by 13.5% during the 4th quarter. Invesco Ltd. now owns 5,826,318 shares of the specialty chemicals company’s stock worth $432,721,000 after acquiring an additional 694,055 shares in 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.