LyondellBasell Industries (NYSE:LYB) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of LyondellBasell Industries (NYSE:LYB) from a hold rating to a buy rating in a research report report published on Saturday morning.

Several other brokerages have also recently issued reports on LYB. 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 report on Monday, July 20th. Mizuho lifted their price target on LyondellBasell Industries from $62.00 to $66.00 and gave the stock a “neutral” rating in a report on Monday, August 3rd. Royal Bank Of Canada upped their price objective on shares of LyondellBasell Industries from $65.00 to $72.00 and gave the company an “outperform” rating in a report on Wednesday, August 5th. JPMorgan Chase & Co. upgraded shares of LyondellBasell Industries from a “neutral” rating to an “overweight” rating and raised their price objective for the stock from $75.00 to $80.00 in a research report on Monday, August 3rd. Finally, Bank of America reduced their target price on shares of LyondellBasell Industries from $68.00 to $48.00 and set an “underperform” rating on the stock in a research note on Tuesday, June 30th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, eight have assigned a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $72.56.

LyondellBasell Industries Stock Performance

LYB opened at $62.56 on Friday. LyondellBasell Industries has a twelve month low of $41.58 and a twelve month high of $83.94. The firm has a market capitalization of $20.21 billion, a PE ratio of -55.36, a PEG ratio of 0.16 and a beta of 0.31. The company has a current ratio of 1.64, a quick ratio of 1.07 and a debt-to-equity ratio of 1.05. The firm’s 50-day moving average price is $59.62 and its 200 day moving average price is $64.31.

LyondellBasell Industries (NYSE:LYB) last released its earnings results on Friday, July 31st. The specialty chemicals company reported $4.30 earnings per share for the quarter, topping analysts’ consensus estimates of $3.44 by $0.86. The business had revenue of $9.18 billion for the quarter, compared to analyst estimates of $9.21 billion. LyondellBasell Industries had a negative net margin of 1.13% and a positive return on equity of 17.44%. The business’s revenue was up 19.8% on a year-over-year basis. During the same period last year, the company posted $0.62 EPS. As a group, sell-side analysts expect that LyondellBasell Industries will post 9.39 EPS for the current fiscal year.

LyondellBasell Industries Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 8th. Stockholders of record on Monday, June 1st were issued a dividend of $0.69 per share. The ex-dividend date was Monday, June 1st. This represents a $2.76 dividend on an annualized basis and a dividend yield of 4.4%. LyondellBasell Industries’s dividend payout ratio is currently -244.25%.

Institutional Trading of LyondellBasell Industries

Institutional investors and hedge funds have recently bought and sold shares of the stock. Capital Research Global Investors increased its position in shares of LyondellBasell Industries by 108.7% during the fourth quarter. Capital Research Global Investors now owns 9,159,702 shares of the specialty chemicals company’s stock valued at $396,615,000 after acquiring an additional 4,770,260 shares during the last quarter. BlackRock Inc. raised its stake in shares of LyondellBasell Industries by 16.7% in the 2nd quarter. BlackRock Inc. now owns 29,298,859 shares of the specialty chemicals company’s stock valued at $1,542,585,000 after acquiring an additional 4,185,571 shares during the period. AQR Capital Management LLC lifted its holdings in shares of LyondellBasell Industries by 512.9% in the 4th quarter. AQR Capital Management LLC now owns 3,093,318 shares of the specialty chemicals company’s stock worth $133,941,000 after acquiring an additional 2,588,636 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of LyondellBasell Industries by 5,451.2% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,457,591 shares of the specialty chemicals company’s stock worth $63,114,000 after purchasing an additional 1,431,334 shares during the period. Finally, Morgan Stanley boosted its position in shares of LyondellBasell Industries by 16.9% during the 4th quarter. Morgan Stanley now owns 8,971,741 shares of the specialty chemicals company’s stock worth $388,476,000 after purchasing an additional 1,300,271 shares during the period. 71.20% of the stock is currently owned by hedge funds and other institutional investors.

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.