LyondellBasell Industries (NYSE:LYB) Given New $90.00 Price Target at Royal Bank of Canada

LyondellBasell Industries (NYSE:LYB) had its price objective hoisted by Royal Bank of Canada from $82.00 to $90.00 in a research note released on Tuesday,Benzinga reports. Royal Bank of Canada currently has an outperform rating on the specialty chemicals company’s stock.

A number of other equities research analysts have also recently commented on LYB. The Goldman Sachs Group decreased their price objective on LyondellBasell Industries from $96.00 to $86.00 and set a “sell” rating for the company in a research note on Thursday, December 12th. Mizuho decreased their target price on LyondellBasell Industries from $97.00 to $85.00 and set a “neutral” rating for the company in a research report on Monday, December 9th. Morgan Stanley cut their price target on shares of LyondellBasell Industries from $90.00 to $85.00 and set an “overweight” rating on the stock in a research report on Tuesday. JPMorgan Chase & Co. decreased their price objective on shares of LyondellBasell Industries from $90.00 to $80.00 and set an “overweight” rating for the company in a report on Tuesday. Finally, UBS Group cut their target price on shares of LyondellBasell Industries from $77.00 to $76.00 and set a “neutral” rating on the stock in a report on Monday. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $89.17.

LyondellBasell Industries Stock Performance

Shares of NYSE:LYB opened at $77.73 on Tuesday. The stock has a market capitalization of $25.24 billion, a P/E ratio of 18.78, a P/E/G ratio of 5.11 and a beta of 1.05. The company has a current ratio of 1.83, a quick ratio of 1.13 and a debt-to-equity ratio of 0.84. LyondellBasell Industries has a 1-year low of $72.21 and a 1-year high of $107.02. The business has a 50-day moving average price of $76.11 and a two-hundred day moving average price of $86.76.

LyondellBasell Industries (NYSE:LYB) last announced its quarterly earnings data on Friday, January 31st. The specialty chemicals company reported $0.75 earnings per share for the quarter, missing the consensus estimate of $1.28 by ($0.53). LyondellBasell Industries had a net margin of 3.39% and a return on equity of 15.97%. During the same quarter last year, the business earned $1.26 earnings per share. Equities analysts predict that LyondellBasell Industries will post 7.4 earnings per share for the current year.

LyondellBasell Industries Dividend Announcement

The company also recently announced 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 dividend on an annualized basis and a yield of 6.90%. The ex-dividend date was Monday, December 2nd. LyondellBasell Industries’s dividend payout ratio (DPR) is presently 129.47%.

Insider Activity

In other news, Director Robin W.T. Buchanan bought 5,000 shares of the company’s stock in a transaction that occurred on Friday, December 13th. The shares were acquired at an average price of $76.06 per share, with a total value of $380,300.00. Following the transaction, the director now owns 18,175 shares in the company, valued at $1,382,390.50. This represents a 37.95 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.11% of the company’s stock.

Hedge Funds Weigh In On LyondellBasell Industries

Several hedge funds have recently made changes to their positions in LYB. CVA Family Office LLC boosted its holdings in LyondellBasell Industries by 155.9% during the third quarter. CVA Family Office LLC now owns 261 shares of the specialty chemicals company’s stock worth $25,000 after purchasing an additional 159 shares during the last quarter. Webster Bank N. A. lifted its position in LyondellBasell Industries by 70.4% during the 4th quarter. Webster Bank N. A. now owns 346 shares of the specialty chemicals company’s stock worth $26,000 after buying an additional 143 shares in the last quarter. Matrix Trust Co acquired a new position in shares of LyondellBasell Industries during the 3rd quarter worth about $30,000. Rosenberg Matthew Hamilton grew its holdings in shares of LyondellBasell Industries by 268.2% in the 4th quarter. Rosenberg Matthew Hamilton now owns 405 shares of the specialty chemicals company’s stock valued at $30,000 after acquiring an additional 295 shares in the last quarter. Finally, Ashton Thomas Securities LLC acquired a new stake in shares of LyondellBasell Industries in the third quarter valued at about $31,000. 71.20% of the stock is owned by 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.