Piper Sandler Issues Pessimistic Forecast for LyondellBasell Industries (NYSE:LYB) Stock Price

LyondellBasell Industries (NYSE:LYB) had its target price reduced by Piper Sandler from $84.00 to $67.00 in a research note issued to investors on Monday,Benzinga reports. Piper Sandler currently has a neutral rating on the specialty chemicals company’s stock.

Several other equities research analysts also recently weighed in on LYB. Morgan Stanley decreased their target price on LyondellBasell Industries from $90.00 to $85.00 and set an “overweight” rating for the company in a research report on Tuesday, February 4th. Citigroup decreased their price target on LyondellBasell Industries from $75.00 to $66.00 and set a “neutral” rating for the company in a report on Friday. The Goldman Sachs Group dropped their price objective on shares of LyondellBasell Industries from $96.00 to $86.00 and set a “sell” rating on the stock in a research note on Thursday, December 12th. Royal Bank of Canada upped their target price on shares of LyondellBasell Industries from $82.00 to $90.00 and gave the company an “outperform” rating in a research note on Tuesday, February 4th. Finally, Wells Fargo & Company dropped their price target on shares of LyondellBasell Industries from $90.00 to $85.00 and set an “overweight” rating on the stock in a research note on Friday. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $78.83.

LyondellBasell Industries Stock Down 2.3 %

Shares of NYSE:LYB opened at $56.64 on Monday. LyondellBasell Industries has a 1 year low of $54.11 and a 1 year high of $107.02. The stock has a 50-day simple moving average of $74.04 and a 200-day simple moving average of $79.86. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.13 and a current ratio of 1.83. The stock has a market capitalization of $18.32 billion, a P/E ratio of 13.68, a PEG ratio of 0.97 and a beta of 0.89.

LyondellBasell Industries (NYSE:LYB) last issued its earnings results on Friday, January 31st. The specialty chemicals company reported $0.75 EPS for the quarter, missing analysts’ consensus estimates of $1.28 by ($0.53). LyondellBasell Industries had a net margin of 3.39% and a return on equity of 15.97%. During the same quarter in the previous year, the company posted $1.26 earnings per share. Equities analysts forecast that LyondellBasell Industries will post 6.31 earnings per share for the current year.

LyondellBasell Industries Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 10th were paid a $1.34 dividend. The ex-dividend date of this dividend was Monday, March 10th. This represents a $5.36 dividend on an annualized basis and a yield of 9.46%. LyondellBasell Industries’s dividend payout ratio (DPR) is 129.47%.

Insider Activity at LyondellBasell Industries

In other news, Director Michael Sean Hanley bought 3,750 shares of the firm’s stock in a transaction dated Wednesday, March 12th. The stock was bought at an average price of $72.05 per share, for a total transaction of $270,187.50. Following the transaction, the director now owns 16,028 shares in the company, valued at $1,154,817.40. The trade was a 30.54 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this link. 0.11% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On LyondellBasell Industries

Large investors have recently added to or reduced their stakes in the company. Vident Advisory LLC raised its holdings in shares of LyondellBasell Industries by 0.8% during the fourth quarter. Vident Advisory LLC now owns 16,123 shares of the specialty chemicals company’s stock worth $1,197,000 after purchasing an additional 131 shares during the period. Webster Bank N. A. raised its stake in LyondellBasell Industries by 70.4% during the fourth quarter. Webster Bank N. A. now owns 346 shares of the specialty chemicals company’s stock worth $26,000 after acquiring an additional 143 shares during the period. Cairn Investment Group Inc. lifted its holdings in LyondellBasell Industries by 0.4% in the fourth quarter. Cairn Investment Group Inc. now owns 42,147 shares of the specialty chemicals company’s stock worth $3,130,000 after acquiring an additional 155 shares during the last quarter. Alliance Wealth Advisors LLC UT lifted its holdings in LyondellBasell Industries by 5.2% in the fourth quarter. Alliance Wealth Advisors LLC UT now owns 3,608 shares of the specialty chemicals company’s stock worth $268,000 after acquiring an additional 177 shares during the last quarter. Finally, Y.D. More Investments Ltd grew its holdings in shares of LyondellBasell Industries by 14.9% during the fourth quarter. Y.D. More Investments Ltd now owns 1,497 shares of the specialty chemicals company’s stock valued at $111,000 after purchasing an additional 194 shares during the last quarter. 71.20% of the stock is currently owned by institutional investors.

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.