LyondellBasell Industries (NYSE:LYB) Receives $89.17 Average PT from Brokerages

LyondellBasell Industries (NYSE:LYB) has earned an average recommendation of “Hold” from the fourteen ratings firms that are presently covering the stock, MarketBeat.com reports. Two research analysts have rated the stock with a sell recommendation, eight have assigned a hold recommendation and four have assigned a buy recommendation to the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $88.25.

Several research firms recently commented on LYB. JPMorgan Chase & Co. reduced their target price on shares of LyondellBasell Industries from $90.00 to $80.00 and set an “overweight” rating on the stock in a report on Tuesday, February 4th. Mizuho cut their price objective on shares of LyondellBasell Industries from $97.00 to $85.00 and set a “neutral” rating on the stock in a report on Monday, December 9th. Barclays dropped their target price on shares of LyondellBasell Industries from $90.00 to $80.00 and set an “equal weight” rating on the stock in a research note on Monday, February 3rd. The Goldman Sachs Group dropped their target price on shares of LyondellBasell Industries from $96.00 to $86.00 and set a “sell” rating on the stock in a report on Thursday, December 12th. Finally, Piper Sandler decreased their target price on shares of LyondellBasell Industries from $95.00 to $84.00 and set a “neutral” rating for the company in a research note on Thursday.

LyondellBasell Industries Stock Performance

NYSE LYB opened at $76.74 on Thursday. LyondellBasell Industries has a 52-week low of $72.21 and a 52-week high of $107.02. The company has a fifty day moving average of $75.60 and a 200-day moving average of $85.85. The company has a market capitalization of $24.92 billion, a P/E ratio of 18.54, a P/E/G ratio of 0.92 and a beta of 1.05. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.13 and a current ratio of 1.83.

LyondellBasell Industries (NYSE:LYB) last issued its quarterly earnings results on Friday, January 31st. The specialty chemicals company reported $0.75 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.28 by ($0.53). LyondellBasell Industries had a return on equity of 15.97% and a net margin of 3.39%. During the same period in the prior year, the business posted $1.26 EPS. As a group, equities research analysts predict that LyondellBasell Industries will post 6.68 EPS for the current fiscal year.

LyondellBasell Industries Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, December 9th. Shareholders of record on Monday, December 2nd were issued a dividend of $1.34 per share. This represents a $5.36 annualized dividend and a yield of 6.98%. The ex-dividend date of this dividend was Monday, December 2nd. LyondellBasell Industries’s dividend payout ratio is currently 129.47%.

Insider Buying and Selling

In other LyondellBasell Industries news, Director Robin W.T. Buchanan purchased 5,000 shares of the stock in a transaction that occurred on Friday, December 13th. The stock was purchased at an average price of $76.06 per share, with a total value of $380,300.00. Following the acquisition, the director now owns 18,175 shares in the company, valued at approximately $1,382,390.50. The trade was a 37.95 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.11% of the stock is owned by insiders.

Institutional Investors Weigh In On LyondellBasell Industries

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Amundi increased its position in shares of LyondellBasell Industries by 48.6% during the fourth quarter. Amundi now owns 3,858,033 shares of the specialty chemicals company’s stock worth $283,452,000 after acquiring an additional 1,260,913 shares during the period. Norges Bank acquired a new position in shares of LyondellBasell Industries in the 4th quarter valued at $81,015,000. Raymond James Financial Inc. purchased a new stake in shares of LyondellBasell Industries in the fourth quarter valued at approximately $69,115,000. Jacobs Levy Equity Management Inc. boosted its holdings in LyondellBasell Industries by 211.9% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 1,283,163 shares of the specialty chemicals company’s stock worth $123,055,000 after buying an additional 871,708 shares during the last quarter. Finally, Dodge & Cox boosted its position in LyondellBasell Industries by 5.3% during the fourth quarter. Dodge & Cox now owns 16,965,832 shares of the specialty chemicals company’s stock worth $1,260,052,000 after acquiring an additional 851,365 shares during the last quarter. 71.20% of the stock is currently owned by hedge funds and other 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.