LyondellBasell Industries (NYSE:LYB) Upgraded by KeyCorp to Hold Rating

KeyCorp upgraded shares of LyondellBasell Industries (NYSE:LYB) to a hold rating in a report published on Thursday,Zacks reports. KeyCorp also issued estimates for LyondellBasell Industries’ FY2028 earnings at $6.40 EPS.

Several other equities research analysts have also recently commented on LYB. Citigroup lowered their target price on LyondellBasell Industries from $80.00 to $67.00 and set a “buy” rating for the company in a research note on Wednesday, June 24th. Alembic Global Advisors decreased their price target on LyondellBasell Industries from $95.00 to $83.00 and set an “overweight” rating on the stock in a report on Thursday, July 2nd. Morgan Stanley cut their target price on shares of LyondellBasell Industries from $77.00 to $72.00 and set an “overweight” rating on the stock in a research report on Monday, July 20th. 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. Finally, Mizuho lifted their price target on shares of LyondellBasell Industries from $62.00 to $66.00 and gave the stock a “neutral” rating in a research report on Monday, August 3rd. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, eight have given a Hold rating and four have assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $72.56.

LyondellBasell Industries Price Performance

Shares of LyondellBasell Industries stock opened at $64.33 on Thursday. The stock has a market capitalization of $20.78 billion, a price-to-earnings ratio of -56.93, a P/E/G ratio of 0.18 and a beta of 0.31. LyondellBasell Industries has a 1-year low of $41.58 and a 1-year high of $83.94. The firm’s 50-day moving average price is $61.52 and its two-hundred day moving average price is $66.00. The company has a current ratio of 1.64, a quick ratio of 1.07 and a debt-to-equity ratio of 1.05.

LyondellBasell Industries (NYSE:LYB) last released its quarterly earnings results on Friday, July 31st. The specialty chemicals company reported $4.30 earnings per share for the quarter, beating analysts’ consensus estimates of $3.44 by $0.86. LyondellBasell Industries had a positive return on equity of 17.44% and a negative net margin of 1.13%.The firm had revenue of $9.18 billion during the quarter, compared to analysts’ expectations of $9.21 billion. During the same period last year, the firm posted $0.62 EPS. The business’s revenue was up 19.8% on a year-over-year basis. On average, equities analysts predict that LyondellBasell Industries will post 9.2 earnings per share for the current fiscal 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 issued a dividend of $0.69 per share. The ex-dividend date was Monday, August 24th. This represents a $2.76 dividend on an annualized basis and a yield of 4.3%. LyondellBasell Industries’s payout ratio is currently -244.25%.

Institutional Investors Weigh In On LyondellBasell Industries

Hedge funds have recently bought and sold shares of the company. Woodline Partners LP raised its stake in LyondellBasell Industries by 40.4% during the 1st quarter. Woodline Partners LP now owns 21,899 shares of the specialty chemicals company’s stock worth $1,542,000 after buying an additional 6,297 shares during the period. Focus Partners Wealth grew its stake in LyondellBasell Industries by 35.4% in the first quarter. Focus Partners Wealth now owns 6,866 shares of the specialty chemicals company’s stock valued at $483,000 after acquiring an additional 1,796 shares during the period. Baird Financial Group Inc. increased its holdings in shares of LyondellBasell Industries by 69.5% in the second quarter. Baird Financial Group Inc. now owns 29,488 shares of the specialty chemicals company’s stock worth $1,706,000 after acquiring an additional 12,087 shares in the last quarter. Cerity Partners LLC increased its stake in LyondellBasell Industries by 13.9% during the 2nd quarter. Cerity Partners LLC now owns 49,348 shares of the specialty chemicals company’s stock worth $2,855,000 after purchasing an additional 6,032 shares in the last quarter. Finally, Daiwa Securities Group Inc. increased its position in shares of LyondellBasell Industries by 9.9% during the second quarter. Daiwa Securities Group Inc. now owns 41,416 shares of the specialty chemicals company’s stock worth $2,397,000 after acquiring an additional 3,715 shares in the last quarter. 71.20% of the stock is currently owned by institutional investors and hedge funds.

About LyondellBasell Industries

LyondellBasell Industries N.V. (NYSE: LYB) is a global chemical company that produces plastics, chemicals and refined products used in packaging, transportation, construction, healthcare, electronics and other consumer and industrial applications. Its portfolio includes polyethylene, polypropylene, propylene oxide, oxyfuels, acetyls and other intermediate chemicals, as well as advanced polymer compounds and solutions.

The company operates across the petrochemical value chain, converting hydrocarbon feedstocks into materials and specialty products.