Royal Bank of Canada Cuts LyondellBasell Industries (NYSE:LYB) Price Target to $92.00

LyondellBasell Industries (NYSE:LYB) had its target price reduced by Royal Bank of Canada from $104.00 to $92.00 in a report issued on Thursday,Benzinga reports. Royal Bank of Canada currently has an outperform rating on the specialty chemicals company’s stock.

Several other analysts have also recently commented on LYB. Deutsche Bank Aktiengesellschaft dropped their price target on LyondellBasell Industries from $100.00 to $94.00 and set a “hold” rating for the company in a research report on Monday, November 4th. Piper Sandler reduced their target price on shares of LyondellBasell Industries from $117.00 to $112.00 and set an “overweight” rating for the company in a research report on Friday, November 8th. Mizuho lowered their price target on shares of LyondellBasell Industries from $97.00 to $85.00 and set a “neutral” rating on the stock in a research report on Monday, December 9th. Wells Fargo & Company cut their price objective on shares of LyondellBasell Industries from $105.00 to $95.00 and set an “overweight” rating for the company in a report on Tuesday, December 10th. Finally, Barclays lowered their target price on LyondellBasell Industries from $99.00 to $95.00 and set an “equal weight” rating on the stock in a report on Monday, November 4th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $96.27.

LyondellBasell Industries Stock Performance

LYB opened at $73.50 on Thursday. The firm’s fifty day simple moving average is $83.31 and its two-hundred day simple moving average is $91.38. LyondellBasell Industries has a 52-week low of $72.93 and a 52-week high of $107.02. The company has a market cap of $23.87 billion, a price-to-earnings ratio of 11.19, a PEG ratio of 2.16 and a beta of 1.05. The company has a quick ratio of 1.25, a current ratio of 2.13 and a debt-to-equity ratio of 0.81.

LyondellBasell Industries (NYSE:LYB) last issued its quarterly earnings results on Friday, November 1st. The specialty chemicals company reported $1.88 earnings per share for the quarter, missing analysts’ consensus estimates of $1.98 by ($0.10). LyondellBasell Industries had a net margin of 5.29% and a return on equity of 17.05%. The company had revenue of $10.33 billion during the quarter, compared to analysts’ expectations of $10.60 billion. During the same period in the prior year, the business posted $2.46 earnings per share. The company’s quarterly revenue was down 2.8% compared to the same quarter last year. Equities analysts anticipate that LyondellBasell Industries will post 7.02 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, December 9th. Shareholders of record on Monday, December 2nd were given a $1.34 dividend. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $5.36 dividend on an annualized basis and a yield of 7.29%. LyondellBasell Industries’s dividend payout ratio is currently 81.58%.

Insider Transactions at LyondellBasell Industries

In related news, Director Robin W.T. Buchanan purchased 5,000 shares of LyondellBasell Industries stock in a transaction dated Friday, December 13th. The shares were acquired at an average cost of $76.06 per share, with a total value of $380,300.00. Following the purchase, the director now owns 18,175 shares of the company’s stock, valued at approximately $1,382,390.50. The trade was a 37.95 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 0.11% of the company’s stock.

Institutional Trading of LyondellBasell Industries

Several institutional investors have recently added to or reduced their stakes in LYB. HighTower Advisors LLC boosted its position in shares of LyondellBasell Industries by 18.2% during the third quarter. HighTower Advisors LLC now owns 1,038,687 shares of the specialty chemicals company’s stock worth $99,557,000 after buying an additional 159,803 shares during the period. Quantinno Capital Management LP boosted its holdings in LyondellBasell Industries by 23.1% during the 3rd quarter. Quantinno Capital Management LP now owns 61,897 shares of the specialty chemicals company’s stock valued at $5,936,000 after acquiring an additional 11,610 shares during the period. Principal Financial Group Inc. grew its position in LyondellBasell Industries by 6.3% in the 3rd quarter. Principal Financial Group Inc. now owns 307,496 shares of the specialty chemicals company’s stock valued at $29,489,000 after acquiring an additional 18,311 shares in the last quarter. Weiss Asset Management LP purchased a new stake in LyondellBasell Industries during the third quarter worth about $7,537,000. Finally, Captrust Financial Advisors lifted its position in shares of LyondellBasell Industries by 4.7% during the third quarter. Captrust Financial Advisors now owns 135,346 shares of the specialty chemicals company’s stock worth $12,980,000 after purchasing an additional 6,074 shares in the last quarter. Institutional investors and hedge funds own 71.20% of the company’s stock.

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.