LyondellBasell Industries (NYSE:LYB) Given New $105.00 Price Target at Deutsche Bank Aktiengesellschaft

LyondellBasell Industries (NYSE:LYB) had its price objective raised by Deutsche Bank Aktiengesellschaft from $100.00 to $105.00 in a report issued on Tuesday, Benzinga reports. The firm currently has a hold rating on the specialty chemicals company’s stock.

A number of other brokerages have also recently commented on LYB. JPMorgan Chase & Co. upped their price target on LyondellBasell Industries from $100.00 to $105.00 and gave the company an overweight rating in a research report on Friday, March 22nd. Barclays upped their price target on LyondellBasell Industries from $98.00 to $100.00 and gave the company an equal weight rating in a research report on Thursday, April 4th. BMO Capital Markets increased their price objective on LyondellBasell Industries from $99.00 to $105.00 and gave the stock a market perform rating in a report on Tuesday. Royal Bank of Canada increased their price objective on LyondellBasell Industries from $107.00 to $113.00 and gave the stock an outperform rating in a report on Monday. Finally, Wolfe Research assumed coverage on LyondellBasell Industries in a report on Friday, March 1st. They set an underperform rating on the stock. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, LyondellBasell Industries has an average rating of Hold and a consensus target price of $104.75.

LyondellBasell Industries Trading Down 1.7 %

Shares of LyondellBasell Industries stock opened at $99.97 on Tuesday. The stock has a fifty day simple moving average of $101.02 and a 200 day simple moving average of $96.63. LyondellBasell Industries has a 12-month low of $84.80 and a 12-month high of $106.69. The company has a market capitalization of $32.53 billion, a P/E ratio of 15.45, a price-to-earnings-growth ratio of 1.25 and a beta of 1.19. The company has a current ratio of 2.12, a quick ratio of 1.32 and a debt-to-equity ratio of 0.85.

LyondellBasell Industries (NYSE:LYB) last posted its quarterly earnings data on Friday, April 26th. The specialty chemicals company reported $1.53 earnings per share for the quarter, topping the consensus estimate of $1.36 by $0.17. LyondellBasell Industries had a return on equity of 19.31% and a net margin of 5.20%. The business had revenue of $9.93 billion for the quarter, compared to analysts’ expectations of $9.70 billion. During the same quarter in the previous year, the firm earned $2.50 earnings per share. The business’s revenue was down 3.1% on a year-over-year basis. On average, sell-side analysts anticipate that LyondellBasell Industries will post 8.69 earnings per share for the current fiscal year.

LyondellBasell Industries Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 11th. Shareholders of record on Monday, March 4th were paid a $1.25 dividend. The ex-dividend date was Friday, March 1st. This represents a $5.00 dividend on an annualized basis and a yield of 5.00%. LyondellBasell Industries’s dividend payout ratio is currently 77.28%.

Insiders Place Their Bets

In other news, EVP Kenneth Todd Lane sold 9,489 shares of the stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $98.92, for a total transaction of $938,651.88. Following the transaction, the executive vice president now directly owns 89,445 shares in the company, valued at approximately $8,847,899.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, EVP Kenneth Todd Lane sold 9,489 shares of the stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $98.92, for a total transaction of $938,651.88. Following the transaction, the executive vice president now directly owns 89,445 shares in the company, valued at approximately $8,847,899.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Robin W.T. Buchanan sold 18,111 shares of the stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $100.46, for a total value of $1,819,431.06. Following the transaction, the director now owns 12,276 shares in the company, valued at $1,233,246.96. The disclosure for this sale can be found here. Insiders have sold 80,853 shares of company stock worth $8,077,267 in the last ninety days. 0.11% of the stock is currently owned by insiders.

Institutional Investors Weigh In On LyondellBasell Industries

Several institutional investors have recently bought and sold shares of LYB. Capital World Investors purchased a new stake in LyondellBasell Industries during the 4th quarter valued at about $197,305,000. Pacer Advisors Inc. boosted its holdings in LyondellBasell Industries by 35.5% during the 4th quarter. Pacer Advisors Inc. now owns 3,571,985 shares of the specialty chemicals company’s stock valued at $339,624,000 after acquiring an additional 935,430 shares during the period. Norges Bank purchased a new stake in LyondellBasell Industries during the 4th quarter valued at about $82,854,000. Invesco Ltd. boosted its holdings in LyondellBasell Industries by 24.9% during the 3rd quarter. Invesco Ltd. now owns 4,085,474 shares of the specialty chemicals company’s stock valued at $386,894,000 after acquiring an additional 815,083 shares during the period. Finally, FMR LLC boosted its holdings in LyondellBasell Industries by 10.3% during the 3rd quarter. FMR LLC now owns 8,408,551 shares of the specialty chemicals company’s stock valued at $796,290,000 after acquiring an additional 787,221 shares during the period. 71.20% of the stock is currently owned by hedge funds and other institutional investors.

About LyondellBasell Industries

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.