LyondellBasell Industries (NYSE:LYB) Price Target Raised to $82.00

LyondellBasell Industries (NYSE:LYB) had its target price boosted by UBS Group from $79.00 to $82.00 in a report published on Tuesday morning, Marketbeat reports. The brokerage currently has a neutral rating on the specialty chemicals company’s stock.

Several other analysts have also issued reports on the stock. Wells Fargo & Company upped their price target on shares of LyondellBasell Industries from $70.00 to $87.00 and gave the stock an “equal weight” rating in a research report on Monday, March 30th. Alembic Global Advisors raised shares of LyondellBasell Industries from a “neutral” rating to an “overweight” rating in a research report on Thursday, April 9th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of LyondellBasell Industries in a research report on Tuesday, April 21st. Royal Bank Of Canada upped their price target on shares of LyondellBasell Industries from $91.00 to $94.00 and gave the stock an “outperform” rating in a research report on Monday. Finally, Wall Street Zen raised shares of LyondellBasell Industries from a “hold” rating to a “buy” rating in a research report on Saturday, May 2nd. Two equities research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, nine have issued a Hold rating and four have issued a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $76.59.

LyondellBasell Industries Stock Performance

NYSE LYB opened at $71.40 on Tuesday. The company has a current ratio of 1.54, a quick ratio of 1.03 and a debt-to-equity ratio of 1.12. The firm’s fifty day moving average price is $71.69 and its two-hundred day moving average price is $56.25. LyondellBasell Industries has a 1 year low of $41.58 and a 1 year high of $83.94. The firm has a market capitalization of $23.05 billion, a P/E ratio of -28.67, a price-to-earnings-growth ratio of 0.16 and a beta of 0.32.

LyondellBasell Industries (NYSE:LYB) last posted its quarterly earnings results on Friday, May 1st. The specialty chemicals company reported $0.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.31 by $0.18. LyondellBasell Industries had a negative net margin of 2.68% and a positive return on equity of 5.68%. The firm had revenue of $7.20 billion for the quarter, compared to analyst estimates of $7.53 billion. During the same period in the prior year, the firm posted $0.33 earnings per share. The company’s quarterly revenue was down 6.3% compared to the same quarter last year. As a group, research analysts anticipate that LyondellBasell Industries will post 8.35 EPS for the current year.

LyondellBasell Industries Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 9th. Stockholders of record on Monday, March 2nd were given a $0.69 dividend. The ex-dividend date of this dividend was Monday, March 2nd. This represents a $2.76 annualized dividend and a dividend yield of 3.9%. LyondellBasell Industries’s dividend payout ratio is presently -110.84%.

Insider Buying and Selling at LyondellBasell Industries

In other news, major shareholder Ai Investments Holdings Llc sold 384,548 shares of the stock in a transaction dated Monday, March 9th. The shares were sold at an average price of $68.13, for a total value of $26,199,255.24. Following the transaction, the insider directly owned 5,270,918 shares of the company’s stock, valued at $359,107,643.34. This represents a 6.80% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.14% of the stock is owned by insiders.

Hedge Funds Weigh In On LyondellBasell Industries

Several large investors have recently modified their holdings of the stock. Hosking Partners LLP increased its position in LyondellBasell Industries by 33.3% during the third quarter. Hosking Partners LLP now owns 595,587 shares of the specialty chemicals company’s stock worth $29,208,000 after acquiring an additional 148,673 shares during the period. Capital World Investors increased its position in LyondellBasell Industries by 13.1% during the third quarter. Capital World Investors now owns 9,807,743 shares of the specialty chemicals company’s stock worth $480,972,000 after acquiring an additional 1,135,258 shares during the period. Bruce & Co. Inc. increased its position in LyondellBasell Industries by 50.0% during the third quarter. Bruce & Co. Inc. now owns 60,000 shares of the specialty chemicals company’s stock worth $2,942,000 after acquiring an additional 20,000 shares during the period. TD Asset Management Inc increased its position in LyondellBasell Industries by 12.8% during the third quarter. TD Asset Management Inc now owns 286,067 shares of the specialty chemicals company’s stock worth $14,029,000 after acquiring an additional 32,401 shares during the period. Finally, Barclays PLC increased its position in LyondellBasell Industries by 3.5% during the third quarter. Barclays PLC now owns 1,006,356 shares of the specialty chemicals company’s stock worth $49,352,000 after acquiring an additional 33,873 shares during the period. 71.20% of the stock is owned by institutional investors.

About LyondellBasell Industries

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.