LyondellBasell Industries (NYSE:LYB) Price Target Cut to $113.00

LyondellBasell Industries (NYSE:LYBGet Rating) had its target price reduced by Mizuho from $132.00 to $113.00 in a research report report published on Wednesday, MarketBeat.com reports. They currently have a buy rating on the specialty chemicals company’s stock.

LYB has been the topic of a number of other research reports. Jefferies Financial Group dropped their price target on LyondellBasell Industries from $135.00 to $117.00 in a research note on Thursday, June 16th. Barclays dropped their price target on LyondellBasell Industries from $130.00 to $110.00 and set an overweight rating on the stock in a research note on Monday, July 11th. Bank of America dropped their price target on LyondellBasell Industries from $109.00 to $100.00 and set an underperform rating on the stock in a research note on Tuesday, June 14th. BMO Capital Markets lifted their target price on LyondellBasell Industries from $108.00 to $128.00 in a research note on Thursday, May 5th. Finally, Royal Bank of Canada lowered their target price on LyondellBasell Industries from $109.00 to $99.00 and set a sector perform rating on the stock in a research note on Wednesday, June 22nd. Two analysts have rated the stock with a sell rating, eleven have given a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, LyondellBasell Industries has an average rating of Hold and an average price target of $106.26.

LyondellBasell Industries Price Performance

NYSE:LYB opened at $85.61 on Wednesday. The business’s 50-day moving average price is $92.68 and its 200 day moving average price is $99.52. The firm has a market cap of $27.93 billion, a P/E ratio of 5.22, a PEG ratio of 0.62 and a beta of 1.27. LyondellBasell Industries has a 52-week low of $82.14 and a 52-week high of $117.22. The company has a quick ratio of 1.01, a current ratio of 1.68 and a debt-to-equity ratio of 0.90.

LyondellBasell Industries (NYSE:LYBGet Rating) last released its earnings results on Friday, July 29th. The specialty chemicals company reported $5.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.91 by $0.28. The firm had revenue of $14.84 billion for the quarter, compared to analyst estimates of $13.70 billion. LyondellBasell Industries had a return on equity of 49.41% and a net margin of 10.19%. LyondellBasell Industries’s revenue was up 28.3% compared to the same quarter last year. During the same period in the previous year, the company earned $6.13 earnings per share. As a group, sell-side analysts predict that LyondellBasell Industries will post 17.11 earnings per share for the current fiscal year.

LyondellBasell Industries Announces Dividend

The business also recently announced a special dividend, which was paid on Monday, June 13th. Investors of record on Monday, June 6th were issued a $5.20 dividend. The ex-dividend date of this dividend was Friday, June 3rd. This represents a yield of 4.2%. LyondellBasell Industries’s dividend payout ratio (DPR) is currently 29.01%.

Insider Buying and Selling

In related news, CFO Michael C. Mcmurray sold 33,880 shares of the business’s stock in a transaction that occurred on Wednesday, June 8th. The stock was sold at an average price of $110.94, for a total value of $3,758,647.20. Following the completion of the sale, the chief financial officer now directly owns 39,612 shares in the company, valued at approximately $4,394,555.28. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, CFO Michael C. Mcmurray sold 33,880 shares of the business’s stock in a transaction that occurred on Wednesday, June 8th. The stock was sold at an average price of $110.94, for a total value of $3,758,647.20. Following the completion of the sale, the chief financial officer now directly owns 39,612 shares in the company, valued at approximately $4,394,555.28. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Jagjeet S. Bindra sold 2,640 shares of the business’s stock in a transaction that occurred on Tuesday, June 7th. The stock was sold at an average price of $111.44, for a total value of $294,201.60. Following the completion of the sale, the director now owns 7,020 shares of the company’s stock, valued at $782,308.80. The disclosure for this sale can be found here. Corporate insiders own 0.18% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Vanguard Group Inc. lifted its holdings in shares of LyondellBasell Industries by 1.1% during the first quarter. Vanguard Group Inc. now owns 30,852,225 shares of the specialty chemicals company’s stock worth $3,172,226,000 after buying an additional 335,124 shares during the last quarter. State Street Corp lifted its holdings in shares of LyondellBasell Industries by 2.9% during the first quarter. State Street Corp now owns 12,322,280 shares of the specialty chemicals company’s stock worth $1,266,977,000 after buying an additional 348,169 shares during the last quarter. Wellington Management Group LLP lifted its holdings in shares of LyondellBasell Industries by 2.6% during the first quarter. Wellington Management Group LLP now owns 10,570,084 shares of the specialty chemicals company’s stock worth $1,086,816,000 after buying an additional 272,372 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of LyondellBasell Industries by 3.5% during the fourth quarter. Geode Capital Management LLC now owns 5,092,810 shares of the specialty chemicals company’s stock worth $469,192,000 after buying an additional 173,263 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of LyondellBasell Industries by 205.3% during the first quarter. Charles Schwab Investment Management Inc. now owns 4,454,483 shares of the specialty chemicals company’s stock worth $458,010,000 after buying an additional 2,995,335 shares during the last quarter. 69.64% of the stock is currently owned by institutional investors and hedge funds.

About LyondellBasell Industries

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LyondellBasell Industries N.V. operates as a chemical company in the United States, Germany, Mexico, Italy, Poland, France, Japan, China, the Netherlands, and internationally. The company operates in six segments: Olefins and PolyolefinsAmericas; Olefins and PolyolefinsEurope, Asia, International; Intermediates and Derivatives; Advanced Polymer Solutions; Refining; and Technology.

Further Reading

Analyst Recommendations for LyondellBasell Industries (NYSE:LYB)

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