JPMorgan Chase & Co. Cuts LyondellBasell Industries (NYSE:LYB) Price Target to $90.00

LyondellBasell Industries (NYSE:LYB) had its price target reduced by JPMorgan Chase & Co. from $100.00 to $90.00 in a research note released on Friday,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the specialty chemicals company’s stock.

LYB has been the subject of a number of other reports. Barclays reduced their price objective on shares of LyondellBasell Industries from $99.00 to $95.00 and set an “equal weight” rating for the company in a research note on Monday, November 4th. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of LyondellBasell Industries from $100.00 to $94.00 and set a “hold” rating for the company in a report on Monday, November 4th. Royal Bank of Canada cut their target price on LyondellBasell Industries from $110.00 to $104.00 and set an “outperform” rating on the stock in a research note on Monday, November 4th. StockNews.com upgraded LyondellBasell Industries from a “hold” rating to a “buy” rating in a research note on Saturday, November 30th. Finally, Wells Fargo & Company dropped their price objective on LyondellBasell Industries from $110.00 to $105.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 5th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $100.70.

LyondellBasell Industries Price Performance

Shares of NYSE LYB opened at $76.39 on Friday. The company has a 50 day simple moving average of $87.23 and a two-hundred day simple moving average of $92.88. LyondellBasell Industries has a fifty-two week low of $75.98 and a fifty-two week high of $107.02. The company has a market capitalization of $24.81 billion, a price-to-earnings ratio of 11.63, a P/E/G ratio of 2.18 and a beta of 1.05. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.25 and a current ratio of 2.13.

LyondellBasell Industries (NYSE:LYB) last posted its quarterly earnings data 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 for the quarter, compared to the consensus estimate of $10.60 billion. During the same period last year, the business earned $2.46 EPS. The firm’s quarterly revenue was down 2.8% on a year-over-year basis. Analysts expect that LyondellBasell Industries will post 7.09 EPS for the current fiscal year.

LyondellBasell Industries Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 9th. Stockholders of record on Monday, December 2nd will be paid a $1.34 dividend. This represents a $5.36 annualized dividend and a dividend yield of 7.02%. The ex-dividend date is Monday, December 2nd. LyondellBasell Industries’s dividend payout ratio (DPR) is presently 81.58%.

Institutional Trading of LyondellBasell Industries

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. CWM LLC boosted its stake in shares of LyondellBasell Industries by 15.0% during the 2nd quarter. CWM LLC now owns 7,335 shares of the specialty chemicals company’s stock worth $702,000 after acquiring an additional 954 shares during the last quarter. Unison Advisors LLC lifted its position in LyondellBasell Industries by 1.2% during the second quarter. Unison Advisors LLC now owns 39,433 shares of the specialty chemicals company’s stock valued at $3,772,000 after purchasing an additional 478 shares in the last quarter. Czech National Bank lifted its position in LyondellBasell Industries by 8.8% during the second quarter. Czech National Bank now owns 49,019 shares of the specialty chemicals company’s stock valued at $4,689,000 after purchasing an additional 3,983 shares in the last quarter. Crestmont Private Wealth LLC bought a new stake in LyondellBasell Industries during the second quarter valued at about $268,000. Finally, LVW Advisors LLC increased its position in LyondellBasell Industries by 5.7% in the second quarter. LVW Advisors LLC now owns 8,105 shares of the specialty chemicals company’s stock worth $775,000 after buying an additional 438 shares in the last quarter. 71.20% of the stock is 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.