LyondellBasell Industries (NYSE:LYB) Stock Gets Price Target Trim from Royal Bank Of Canada

LyondellBasell Industries (NYSE:LYB) had its target price reduced by Royal Bank Of Canada from $72.00 to $68.00 in a research report released on Tuesday morning,Benzinga reports. They currently have an outperform rating on the specialty chemicals company’s stock.

Other analysts also recently issued reports about the company. BMO Capital Markets upped their price objective on LyondellBasell Industries from $64.00 to $68.00 and gave the company a “market perform” rating in a research report on Monday, August 3rd. Alembic Global Advisors decreased their price objective on LyondellBasell Industries from $95.00 to $83.00 and set an “overweight” rating on the stock in a research note on Thursday, July 2nd. Morgan Stanley dropped their price objective 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. Wall Street Zen downgraded shares of LyondellBasell Industries from a “strong-buy” rating to a “buy” rating in a research note on Saturday, September 5th. Finally, Citigroup restated a “neutral” rating and issued a $63.00 target price (down from $72.00) on shares of LyondellBasell Industries in a report on Wednesday, September 30th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, ten have assigned a Hold rating and four have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, LyondellBasell Industries has a consensus rating of “Hold” and a consensus price target of $71.50.

LyondellBasell Industries Price Performance

LYB stock opened at $62.69 on Tuesday. LyondellBasell Industries has a 1 year low of $41.58 and a 1 year high of $83.94. The company has a debt-to-equity ratio of 1.05, a quick ratio of 1.07 and a current ratio of 1.64. The stock’s 50 day moving average price is $62.36 and its 200 day moving average price is $64.73. The firm has a market cap of $20.25 billion, a P/E ratio of 11.04, a PEG ratio of 0.16 and a beta of 0.30.

LyondellBasell Industries (NYSE:LYB) last announced its earnings results on Friday, July 31st. The specialty chemicals company reported $4.30 EPS for the quarter, beating analysts’ consensus estimates of $3.44 by $0.86. The firm had revenue of $9.18 billion for the quarter, compared to analysts’ expectations of $9.21 billion. LyondellBasell Industries had a positive return on equity of 17.44% and a negative net margin of 1.13%. LyondellBasell Industries’s quarterly revenue was up 19.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.62 EPS. On average, sell-side analysts expect that LyondellBasell Industries will post 9.17 earnings per share for the current fiscal year.

LyondellBasell Industries Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, August 31st. Shareholders of record on Monday, August 24th were paid a $0.69 dividend. This represents a $2.76 annualized dividend and a yield of 4.4%. The ex-dividend date of this dividend was Monday, August 24th. LyondellBasell Industries’s payout ratio is presently -244.25%.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Jamison Private Wealth Management Inc. lifted its stake in shares of LyondellBasell Industries by 1.6% during the 1st quarter. Jamison Private Wealth Management Inc. now owns 10,915 shares of the specialty chemicals company’s stock worth $879,000 after purchasing an additional 172 shares during the period. Cidel Asset Management Inc. increased its stake in LyondellBasell Industries by 2.0% in the second quarter. Cidel Asset Management Inc. now owns 9,996 shares of the specialty chemicals company’s stock valued at $526,000 after purchasing an additional 193 shares during the last quarter. Ipsen Advisor Group LLC increased its stake in LyondellBasell Industries by 2.4% in the first quarter. Ipsen Advisor Group LLC now owns 9,359 shares of the specialty chemicals company’s stock valued at $754,000 after purchasing an additional 216 shares during the last quarter. Moody National Bank Trust Division increased its stake in LyondellBasell Industries by 4.7% in 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 purchasing an additional 275 shares during the last quarter. Finally, Versant Capital Management Inc lifted its position in LyondellBasell Industries by 31.7% during the third quarter. Versant Capital Management Inc now owns 1,255 shares of the specialty chemicals company’s stock worth $72,000 after buying an additional 302 shares during the period. 71.20% of the stock is currently owned by institutional investors and hedge funds.

LyondellBasell Industries Company Profile

LyondellBasell Industries N.V. is a global chemical company that produces materials used across a wide range of industrial and consumer applications. Its portfolio includes olefins and polyolefins, such as polyethylene and polypropylene, as well as propylene oxide, oxyfuels, solvents, and other chemical intermediates.

The company’s products are used in packaging, healthcare, automotive components, construction materials, agriculture, home furnishings, and consumer goods. LyondellBasell also develops advanced polymer compounds and participates in recycling and circular-economy initiatives designed to increase the reuse of plastic materials.

LyondellBasell serves customers in markets throughout North America, Europe, Asia, and other international regions through manufacturing facilities, research operations, and commercial activities around the world.