LyondellBasell Industries (NYSE:LYB) PT Lowered to $97.00 at Royal Bank of Canada

LyondellBasell Industries (NYSE:LYBGet Rating) had its price target decreased by Royal Bank of Canada from $99.00 to $97.00 in a report released on Tuesday morning, Benzinga reports. Royal Bank of Canada currently has a sector perform rating on the specialty chemicals company’s stock.

LYB has been the subject of a number of other research reports. Jefferies Financial Group cut their price objective on shares of LyondellBasell Industries from $135.00 to $117.00 in a report on Thursday, June 16th. Morgan Stanley reduced their price objective on shares of LyondellBasell Industries from $127.00 to $115.00 and set an overweight rating on the stock in a research note on Tuesday. Bank of America dropped their price objective on shares of LyondellBasell Industries from $109.00 to $100.00 and set an underperform rating on the stock in a research note on Tuesday, June 14th. Vertical Research downgraded shares of LyondellBasell Industries from a buy rating to a hold rating and set a $96.00 price objective for the company. in a report on Monday. Finally, Piper Sandler cut their price objective on shares of LyondellBasell Industries from $115.00 to $98.00 in a research report on Monday, July 25th. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, LyondellBasell Industries has a consensus rating of Hold and a consensus price target of $106.26.

LyondellBasell Industries Price Performance

Shares of LYB stock opened at $85.50 on Tuesday. LyondellBasell Industries has a 52-week low of $82.14 and a 52-week high of $117.22. The stock has a market cap of $27.89 billion, a PE ratio of 5.21, a PEG ratio of 0.62 and a beta of 1.27. The company has a debt-to-equity ratio of 0.90, a quick ratio of 1.01 and a current ratio of 1.68. The firm’s 50 day moving average price is $93.31 and its two-hundred day moving average price is $99.62.

LyondellBasell Industries (NYSE:LYBGet Rating) last issued its quarterly earnings data on Friday, July 29th. The specialty chemicals company reported $5.19 EPS for the quarter, topping analysts’ consensus estimates of $4.91 by $0.28. LyondellBasell Industries had a net margin of 10.19% and a return on equity of 49.41%. The business had revenue of $14.84 billion for the quarter, compared to analyst estimates of $13.70 billion. During the same period last year, the business posted $6.13 earnings per share. The firm’s quarterly revenue was up 28.3% on a year-over-year basis. As a group, analysts forecast that LyondellBasell Industries will post 17.12 EPS for the current year.

LyondellBasell Industries Dividend Announcement

The firm also recently declared a special dividend, which was paid on Monday, June 13th. Stockholders of record on Monday, June 6th were issued a dividend of $5.20 per share. This represents a dividend yield of 4.2%. The ex-dividend date of this dividend was Friday, June 3rd. LyondellBasell Industries’s dividend payout ratio (DPR) is 29.01%.

Insider Buying and Selling

In other news, Director Jagjeet S. Bindra sold 2,640 shares of LyondellBasell Industries stock in a transaction dated Tuesday, June 7th. The stock was sold at an average price of $111.44, for a total transaction of $294,201.60. Following the completion of the sale, the director now directly owns 7,020 shares in the company, valued at approximately $782,308.80. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other LyondellBasell Industries news, CFO Michael C. Mcmurray sold 33,880 shares of the stock in a transaction dated Wednesday, June 8th. The stock was sold at an average price of $110.94, for a total value of $3,758,647.20. Following the completion of the sale, the chief financial officer now directly owns 39,612 shares in the company, valued at $4,394,555.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Jagjeet S. Bindra sold 2,640 shares of the stock in a transaction dated Tuesday, June 7th. The stock was sold at an average price of $111.44, for a total value of $294,201.60. Following the transaction, the director now owns 7,020 shares of the company’s stock, valued at $782,308.80. The disclosure for this sale can be found here. 0.18% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On LyondellBasell Industries

A number of large investors have recently made changes to their positions in LYB. Core Wealth Advisors Inc. acquired a new stake in shares of LyondellBasell Industries during the 4th quarter valued at $28,000. Rise Advisors LLC increased its holdings in LyondellBasell Industries by 1,207.7% during the 2nd quarter. Rise Advisors LLC now owns 340 shares of the specialty chemicals company’s stock worth $30,000 after purchasing an additional 314 shares in the last quarter. Covestor Ltd purchased a new position in shares of LyondellBasell Industries in the 4th quarter worth approximately $31,000. EverSource Wealth Advisors LLC purchased a new position in LyondellBasell Industries in the fourth quarter valued at approximately $34,000. Finally, Industrial Alliance Investment Management Inc. bought a new position in shares of LyondellBasell Industries in the fourth quarter worth $35,000. Institutional investors own 69.64% of the company’s stock.

About LyondellBasell Industries

(Get Rating)

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.

Further Reading

Analyst Recommendations for LyondellBasell Industries (NYSE:LYB)

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