LyondellBasell Industries (NYSE:LYB) Price Target Raised to $104.00

LyondellBasell Industries (NYSE:LYB) had its target price hoisted by Barclays from $100.00 to $104.00 in a research note issued to investors on Monday morning, Benzinga reports. Barclays currently has an equal weight rating on the specialty chemicals company’s stock.

A number of other brokerages have also weighed in on LYB. Mizuho lifted their price objective on shares of LyondellBasell Industries from $98.00 to $108.00 and gave the company a neutral rating in a report on Monday, April 29th. Wells Fargo & Company upped their target price on LyondellBasell Industries from $105.00 to $117.00 and gave the stock an overweight rating in a report on Tuesday, April 2nd. Citigroup raised their price target on LyondellBasell Industries from $96.00 to $104.00 and gave the company a neutral rating in a research note on Wednesday, April 10th. BMO Capital Markets increased their target price on shares of LyondellBasell Industries from $99.00 to $105.00 and gave the stock a market perform rating in a report on Tuesday, April 30th. Finally, Wolfe Research assumed coverage on shares of LyondellBasell Industries in a report on Friday, March 1st. They issued an underperform rating for the company. One research analyst has rated the stock with a sell rating, seven have given a hold rating and seven have issued a buy rating to the company. According to MarketBeat, LyondellBasell Industries currently has an average rating of Hold and a consensus target price of $105.08.

LyondellBasell Industries Stock Performance

LyondellBasell Industries stock opened at $102.18 on Monday. The company has a debt-to-equity ratio of 0.85, a current ratio of 2.12 and a quick ratio of 1.32. The firm has a market capitalization of $33.27 billion, a P/E ratio of 15.79, a price-to-earnings-growth ratio of 1.43 and a beta of 1.18. LyondellBasell Industries has a 1-year low of $84.80 and a 1-year high of $107.02. The company’s 50-day moving average is $101.14 and its 200 day moving average is $96.86.

LyondellBasell Industries (NYSE:LYB) last issued its quarterly earnings results on Friday, April 26th. The specialty chemicals company reported $1.53 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.36 by $0.17. The firm had revenue of $9.93 billion during the quarter, compared to analyst estimates of $9.70 billion. LyondellBasell Industries had a return on equity of 19.31% and a net margin of 5.20%. LyondellBasell Industries’s quarterly revenue was down 3.1% compared to the same quarter last year. During the same period last year, the company earned $2.50 EPS. Research analysts forecast that LyondellBasell Industries will post 8.5 EPS for the current year.

LyondellBasell Industries Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 11th. Shareholders of record on Monday, March 4th were issued a $1.25 dividend. This represents a $5.00 annualized dividend and a yield of 4.89%. The ex-dividend date was Friday, March 1st. LyondellBasell Industries’s dividend payout ratio is presently 77.28%.

Insider Activity

In related news, EVP Kenneth Todd Lane sold 29,229 shares of LyondellBasell Industries stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $99.19, for a total value of $2,899,224.51. Following the completion of the sale, the executive vice president now directly owns 91,758 shares in the company, valued at approximately $9,101,476.02. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other LyondellBasell Industries news, EVP Kenneth Todd Lane sold 29,229 shares of the business’s stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $99.19, for a total transaction of $2,899,224.51. Following the sale, the executive vice president now owns 91,758 shares in the company, valued at approximately $9,101,476.02. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CAO Chukwuemeka A. Oyolu sold 7,084 shares of LyondellBasell Industries stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $100.47, for a total value of $711,729.48. Following the sale, the chief accounting officer now directly owns 27,575 shares of the company’s stock, valued at approximately $2,770,460.25. The disclosure for this sale can be found here. Insiders have sold a total of 80,853 shares of company stock worth $8,077,267 over the last 90 days. 0.11% of the stock is currently owned by corporate insiders.

Institutional Trading of LyondellBasell Industries

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Valley National Advisers Inc. purchased a new position in shares of LyondellBasell Industries during the 3rd quarter valued at about $25,000. Chilton Capital Management LLC purchased a new position in shares of LyondellBasell Industries during the 1st quarter valued at approximately $27,000. Annis Gardner Whiting Capital Advisors LLC purchased a new stake in LyondellBasell Industries during the third quarter worth $26,000. McIlrath & Eck LLC grew its position in LyondellBasell Industries by 100.7% during the fourth quarter. McIlrath & Eck LLC now owns 281 shares of the specialty chemicals company’s stock valued at $27,000 after buying an additional 141 shares during the period. Finally, Heritage Wealth Advisors purchased a new position in LyondellBasell Industries in the fourth quarter valued at $27,000. Institutional investors and hedge funds own 71.20% of the company’s stock.

LyondellBasell Industries Company Profile

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.