LyondellBasell Industries (NYSE:LYB) Price Target Raised to $64.00

LyondellBasell Industries (NYSE:LYB) had its price target boosted by UBS Group from $56.00 to $64.00 in a research report sent to investors on Tuesday,Benzinga reports. The brokerage currently has a neutral rating on the specialty chemicals company’s stock.

Other research analysts have also recently issued reports about the company. JPMorgan Chase & Co. upgraded LyondellBasell Industries from a “neutral” rating to an “overweight” rating and upped their price target for the stock from $75.00 to $80.00 in a research note on Monday. Evercore lifted their price objective on LyondellBasell Industries from $70.00 to $73.00 in a research note on Thursday, May 14th. The Goldman Sachs Group increased their target price on LyondellBasell Industries from $51.00 to $75.00 and gave the stock a “sell” rating in a research note on Monday, May 4th. Zacks Research cut LyondellBasell Industries from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 1st. Finally, Morgan Stanley dropped their target price on LyondellBasell Industries from $77.00 to $72.00 and set an “overweight” rating for the company in a research report on Monday, July 20th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, eight have issued a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $72.56.

LyondellBasell Industries Price Performance

Shares of LYB opened at $61.38 on Tuesday. LyondellBasell Industries has a 1-year low of $41.58 and a 1-year high of $83.94. The stock has a market cap of $19.83 billion, a PE ratio of -54.32, a P/E/G ratio of 0.16 and a beta of 0.31. The firm has a 50-day simple moving average of $59.85 and a two-hundred day simple moving average of $64.16. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.64 and a quick ratio of 1.07.

LyondellBasell Industries (NYSE:LYB) last issued its quarterly earnings data on Friday, July 31st. The specialty chemicals company reported $4.30 EPS for the quarter, topping the consensus estimate of $3.44 by $0.86. LyondellBasell Industries had a negative net margin of 1.13% and a positive return on equity of 17.44%. The firm had revenue of $9.18 billion for the quarter, compared to analyst estimates of $9.21 billion. During the same period in the prior year, the business posted $0.62 EPS. The business’s revenue for the quarter was up 19.8% compared to the same quarter last year. As a group, analysts forecast that LyondellBasell Industries will post 9.18 EPS for the current year.

LyondellBasell Industries Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 8th. Stockholders of record on Monday, June 1st were paid a $0.69 dividend. This represents a $2.76 annualized dividend and a dividend yield of 4.5%. The ex-dividend date was Monday, June 1st. LyondellBasell Industries’s dividend payout ratio (DPR) is presently -244.25%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of LYB. Clearstead Advisors LLC boosted its stake in shares of LyondellBasell Industries by 140.3% in the 4th quarter. Clearstead Advisors LLC now owns 668 shares of the specialty chemicals company’s stock valued at $29,000 after buying an additional 390 shares during the period. Quarry LP acquired a new stake in LyondellBasell Industries in the third quarter valued at approximately $31,000. Key Capital Management INC purchased a new position in LyondellBasell Industries in the fourth quarter worth approximately $34,000. Fideuram Asset Management Ireland dac acquired a new position in LyondellBasell Industries during the 4th quarter worth approximately $34,000. Finally, Kelleher Financial Advisors grew its holdings in LyondellBasell Industries by 4,112.5% during the 2nd quarter. Kelleher Financial Advisors now owns 674 shares of the specialty chemicals company’s stock worth $35,000 after acquiring an additional 658 shares in the last quarter. 71.20% of the stock is owned by institutional investors and hedge funds.

LyondellBasell Industries Company Profile

LyondellBasell Industries N.V. (NYSE: LYB) is a global chemical company headquartered in Houston, Texas, that specializes in the production of polyolefins and advanced polymers. Through its extensive portfolio, the company supplies raw materials for a wide range of end markets, including packaging, automotive, construction, electronics and consumer goods. By combining proprietary process technologies with expertise in catalysts, LyondellBasell aims to deliver value-added solutions that enhance product performance and sustainability.

The company’s integrated operations encompass the manufacture of olefins and polyolefins, advanced polymer products, chemical intermediates and refining activities.