LyondellBasell Industries (NYSE:LYB) Price Target Raised to $69.00

LyondellBasell Industries (NYSE:LYB) had its price target raised by Barclays from $66.00 to $69.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage currently has an equal weight rating on the specialty chemicals company’s stock.

Several other equities analysts also recently commented on the stock. KeyCorp assumed coverage on shares of LyondellBasell Industries in a report on Thursday, September 10th. They issued a “sector weight” rating on the stock. Wells Fargo & Company raised their price objective on shares of LyondellBasell Industries from $70.00 to $76.00 and gave the stock an “overweight” rating in a research report on Monday. Mizuho set a $68.00 price objective on LyondellBasell Industries in a report on Monday. UBS Group reduced their price objective on LyondellBasell Industries from $64.00 to $62.00 and set a “neutral” rating for the company in a report on Friday, September 25th. Finally, Bank of America reaffirmed an “underperform” rating and issued a $66.00 target price on shares of LyondellBasell Industries in a research report on Monday. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, ten have given a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $73.22.

LyondellBasell Industries Price Performance

Shares of NYSE LYB opened at $62.88 on Monday. The business’s 50 day moving average price is $62.76 and its two-hundred day moving average price is $63.81. The company has a market cap of $20.33 billion, a PE ratio of 15.88, a price-to-earnings-growth ratio of 0.17 and a beta of 0.29. The company has a quick ratio of 1.18, a current ratio of 1.78 and a debt-to-equity ratio of 0.99. LyondellBasell Industries has a twelve month low of $41.58 and a twelve month high of $83.94.

LyondellBasell Industries (NYSE:LYB) last released its quarterly earnings data on Friday, October 30th. The specialty chemicals company reported $2.54 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.57 by ($0.03). LyondellBasell Industries had a net margin of 4.06% and a return on equity of 21.94%. The business had revenue of $8.50 billion during the quarter, compared to the consensus estimate of $8.87 billion. During the same quarter in the prior year, the company earned $1.01 EPS. LyondellBasell Industries’s quarterly revenue was up 10.0% on a year-over-year basis. On average, analysts predict that LyondellBasell Industries will post 9.22 EPS for the current year.

LyondellBasell Industries Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 31st. Investors of record on Monday, August 24th were given a dividend of $0.69 per share. The ex-dividend date of this dividend was Monday, August 24th. This represents a $2.76 annualized dividend and a yield of 4.4%. LyondellBasell Industries’s dividend payout ratio is currently 69.70%.

Hedge Funds Weigh In On LyondellBasell Industries

Several hedge funds have recently bought and sold shares of the company. Cidel Asset Management Inc. raised its position in LyondellBasell Industries by 2.0% in the 2nd quarter. Cidel Asset Management Inc. now owns 9,996 shares of the specialty chemicals company’s stock worth $526,000 after purchasing an additional 193 shares during the period. Pinnacle Bancorp Inc. boosted its position in LyondellBasell Industries by 26.0% during the third quarter. Pinnacle Bancorp Inc. now owns 965 shares of the specialty chemicals company’s stock valued at $55,000 after buying an additional 199 shares during the period. Ipsen Advisor Group LLC boosted its position in LyondellBasell Industries by 2.4% during the first quarter. Ipsen Advisor Group LLC now owns 9,359 shares of the specialty chemicals company’s stock valued at $754,000 after buying an additional 216 shares during the period. Moody National Bank Trust Division grew its stake in shares of LyondellBasell Industries by 4.7% during the third quarter. Moody National Bank Trust Division now owns 6,116 shares of the specialty chemicals company’s stock valued at $351,000 after buying an additional 275 shares during the last quarter. Finally, North Dakota State Investment Board grew its stake in shares of LyondellBasell Industries by 3.7% during the third quarter. North Dakota State Investment Board now owns 7,900 shares of the specialty chemicals company’s stock valued at $454,000 after buying an additional 283 shares during the last quarter. 71.20% of the stock is owned by institutional investors.

About LyondellBasell Industries

LyondellBasell Industries N.V. is a global chemical company that produces polymers, chemicals and related products used in packaging, transportation, construction, healthcare, consumer goods and other industries. Its portfolio includes polyethylene, polypropylene, advanced polymers, propylene oxide, solvents, acetyls and other chemical intermediates.

The company also operates businesses involved in refining and in the development and licensing of chemical and polymer technologies. Its products are used to manufacture items such as food and beverage packaging, automotive components, medical products, coatings, adhesives and household goods.