LyondellBasell Industries (NYSE:LYB) Given New $110.00 Price Target at Royal Bank of Canada

LyondellBasell Industries (NYSE:LYB) had its price objective cut by Royal Bank of Canada from $112.00 to $110.00 in a research note published on Friday morning, Benzinga reports. They currently have an outperform rating on the specialty chemicals company’s stock.

A number of other brokerages have also weighed in on LYB. Evercore ISI upgraded shares of LyondellBasell Industries to a hold rating in a research report on Monday, August 5th. Wells Fargo & Company lowered their target price on shares of LyondellBasell Industries from $117.00 to $110.00 and set an overweight rating on the stock in a report on Monday, August 5th. JPMorgan Chase & Co. cut their price target on LyondellBasell Industries from $113.00 to $110.00 and set an overweight rating for the company in a report on Friday, September 13th. Barclays reduced their target price on LyondellBasell Industries from $101.00 to $99.00 and set an equal weight rating for the company in a report on Monday, October 7th. Finally, UBS Group lowered their price target on shares of LyondellBasell Industries from $106.00 to $101.00 and set a neutral rating on the stock in a report on Tuesday, July 9th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of Hold and an average target price of $106.40.

LyondellBasell Industries Trading Down 0.4 %

NYSE LYB opened at $93.44 on Friday. The stock has a market capitalization of $30.43 billion, a price-to-earnings ratio of 14.44, a PEG ratio of 1.32 and a beta of 1.07. The business’s fifty day moving average is $95.66 and its 200-day moving average is $97.35. The company has a debt-to-equity ratio of 0.82, a current ratio of 2.10 and a quick ratio of 1.28. LyondellBasell Industries has a one year low of $88.46 and a one year high of $107.02.

LyondellBasell Industries (NYSE:LYB) last posted its quarterly earnings results on Friday, August 2nd. The specialty chemicals company reported $2.24 EPS for the quarter, topping analysts’ consensus estimates of $2.23 by $0.01. LyondellBasell Industries had a net margin of 5.68% and a return on equity of 18.63%. The company had revenue of $10.56 billion for the quarter, compared to analysts’ expectations of $10.44 billion. During the same quarter in the previous year, the firm posted $2.44 EPS. LyondellBasell Industries’s revenue was up 2.4% on a year-over-year basis. Equities research analysts predict that LyondellBasell Industries will post 7.8 EPS for the current year.

LyondellBasell Industries Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Monday, August 26th were paid a $1.34 dividend. The ex-dividend date of this dividend was Monday, August 26th. This represents a $5.36 dividend on an annualized basis and a yield of 5.74%. LyondellBasell Industries’s dividend payout ratio is presently 82.84%.

Institutional Trading of LyondellBasell Industries

Hedge funds and other institutional investors have recently bought and sold shares of the company. Capital World Investors boosted its stake in shares of LyondellBasell Industries by 28.9% in the 1st quarter. Capital World Investors now owns 2,675,701 shares of the specialty chemicals company’s stock valued at $273,671,000 after purchasing an additional 600,554 shares in the last quarter. Ilex Capital Partners UK LLP bought a new stake in LyondellBasell Industries in the first quarter valued at approximately $61,327,000. Pacer Advisors Inc. boosted its stake in shares of LyondellBasell Industries by 13.6% during the second quarter. Pacer Advisors Inc. now owns 4,828,869 shares of the specialty chemicals company’s stock valued at $461,930,000 after purchasing an additional 579,300 shares during the period. Ensign Peak Advisors Inc grew its holdings in shares of LyondellBasell Industries by 80.7% in the second quarter. Ensign Peak Advisors Inc now owns 779,040 shares of the specialty chemicals company’s stock worth $74,523,000 after purchasing an additional 347,877 shares during the last quarter. Finally, Vanguard Group Inc. increased its stake in shares of LyondellBasell Industries by 0.9% in the fourth quarter. Vanguard Group Inc. now owns 31,223,459 shares of the specialty chemicals company’s stock worth $2,968,726,000 after buying an additional 290,401 shares during the period. Hedge funds and other institutional investors 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.