LyondellBasell Industries (NYSE:LYB) PT Lowered to $110.00

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

A number of other equities analysts have also commented on the company. Deutsche Bank Aktiengesellschaft increased their price target on LyondellBasell Industries from $105.00 to $110.00 and gave the company a hold rating in a research note on Tuesday, August 6th. JPMorgan Chase & Co. lowered their price objective on LyondellBasell Industries from $113.00 to $110.00 and set an overweight rating for the company in a research note on Friday, September 13th. Barclays lowered their price objective on LyondellBasell Industries from $101.00 to $99.00 and set an equal weight rating for the company in a research note on Monday, October 7th. Wells Fargo & Company lowered their price objective on LyondellBasell Industries from $117.00 to $110.00 and set an overweight rating for the company in a research note on Monday, August 5th. Finally, Evercore ISI raised LyondellBasell Industries to a hold rating in a research note on Monday, August 5th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of Hold and an average price target of $106.40.

LyondellBasell Industries Price Performance

Shares of LyondellBasell Industries stock opened at $93.79 on Friday. The stock has a 50 day moving average of $95.64 and a 200 day moving average of $97.41. LyondellBasell Industries has a 12 month low of $88.46 and a 12 month high of $107.02. The firm has a market cap of $30.54 billion, a PE ratio of 14.50, a PEG ratio of 1.32 and a beta of 1.07. The company has a current ratio of 2.10, a quick ratio of 1.28 and a debt-to-equity ratio of 0.82.

LyondellBasell Industries (NYSE:LYB) last announced its quarterly earnings results on Friday, August 2nd. The specialty chemicals company reported $2.24 EPS for the quarter, beating analysts’ consensus estimates of $2.23 by $0.01. LyondellBasell Industries had a return on equity of 18.63% and a net margin of 5.68%. The company had revenue of $10.56 billion during the quarter, compared to analyst estimates of $10.44 billion. During the same period in the prior year, the company earned $2.44 earnings per share. The firm’s revenue was up 2.4% on a year-over-year basis. On average, research analysts expect that LyondellBasell Industries will post 7.8 EPS for the current fiscal year.

LyondellBasell Industries Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Monday, August 26th were issued a $1.34 dividend. The ex-dividend date was Monday, August 26th. This represents a $5.36 annualized dividend and a dividend yield of 5.71%. LyondellBasell Industries’s payout ratio is 82.84%.

Institutional Investors Weigh In On LyondellBasell Industries

Several hedge funds and other institutional investors have recently modified their holdings of LYB. Vanguard Group Inc. increased its holdings in LyondellBasell Industries by 0.9% during the 4th quarter. Vanguard Group Inc. now owns 31,223,459 shares of the specialty chemicals company’s stock worth $2,968,726,000 after purchasing an additional 290,401 shares during the period. Pacer Advisors Inc. increased its holdings in LyondellBasell Industries by 13.6% during the 2nd quarter. Pacer Advisors Inc. now owns 4,828,869 shares of the specialty chemicals company’s stock worth $461,930,000 after purchasing an additional 579,300 shares during the period. Dimensional Fund Advisors LP increased its holdings in LyondellBasell Industries by 3.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 4,695,361 shares of the specialty chemicals company’s stock worth $449,175,000 after purchasing an additional 170,464 shares during the period. Capital World Investors increased its holdings in LyondellBasell Industries by 28.9% during the 1st quarter. Capital World Investors now owns 2,675,701 shares of the specialty chemicals company’s stock worth $273,671,000 after purchasing an additional 600,554 shares during the period. Finally, Envestnet Asset Management Inc. increased its holdings in LyondellBasell Industries by 0.6% during the 2nd quarter. Envestnet Asset Management Inc. now owns 1,065,083 shares of the specialty chemicals company’s stock worth $101,886,000 after purchasing an additional 6,760 shares during the period. 71.20% of the stock is currently owned by hedge funds and other institutional investors.

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.