LyondellBasell Industries (NYSE:LYB) Given New $110.00 Price Target at JPMorgan Chase & Co.

LyondellBasell Industries (NYSE:LYB) had its price objective cut by JPMorgan Chase & Co. from $113.00 to $110.00 in a research note issued to investors on Friday, Benzinga reports. They currently have an overweight rating on the specialty chemicals company’s stock.

LYB has been the topic of several other reports. Deutsche Bank Aktiengesellschaft increased their price target on shares of LyondellBasell Industries from $105.00 to $110.00 and gave the company a hold rating in a report on Tuesday, August 6th. UBS Group lowered their target price on LyondellBasell Industries from $106.00 to $101.00 and set a neutral rating on the stock in a research note on Tuesday, July 9th. Evercore ISI upgraded LyondellBasell Industries to a hold rating in a research note on Monday, August 5th. Finally, Wells Fargo & Company lowered their price objective on LyondellBasell Industries from $117.00 to $110.00 and set an overweight rating on the stock in a research report on Monday, August 5th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of Hold and a consensus price target of $107.27.

LyondellBasell Industries Stock Performance

LYB opened at $94.08 on Friday. The company has a quick ratio of 1.28, a current ratio of 2.10 and a debt-to-equity ratio of 0.82. The stock has a market cap of $30.63 billion, a price-to-earnings ratio of 14.54, a PEG ratio of 1.28 and a beta of 1.07. LyondellBasell Industries has a 12-month low of $88.46 and a 12-month high of $107.02. The business has a 50 day moving average of $96.16 and a 200-day moving average of $98.15.

LyondellBasell Industries (NYSE:LYB) last announced its quarterly earnings results on Friday, August 2nd. The specialty chemicals company reported $2.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.23 by $0.01. The business had revenue of $10.56 billion during the quarter, compared to the consensus estimate of $10.44 billion. LyondellBasell Industries had a return on equity of 18.63% and a net margin of 5.68%. The company’s quarterly revenue was up 2.4% on a year-over-year basis. During the same quarter last year, the firm posted $2.44 EPS. On average, equities research analysts expect that LyondellBasell Industries will post 8 earnings per share for the current year.

LyondellBasell Industries Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Monday, August 26th were paid a dividend of $1.34 per share. This represents a $5.36 annualized dividend and a yield of 5.70%. The ex-dividend date was Monday, August 26th. LyondellBasell Industries’s payout ratio is presently 82.84%.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Heritage Wealth Advisors acquired a new position in LyondellBasell Industries in the 4th quarter worth about $27,000. Chilton Capital Management LLC acquired a new position in shares of LyondellBasell Industries in the first quarter worth approximately $27,000. Gold Investment Management Ltd. bought a new stake in shares of LyondellBasell Industries in the 4th quarter valued at $28,000. Beacon Capital Management LLC bought a new position in shares of LyondellBasell Industries in the 1st quarter worth about $28,000. Finally, Blue Trust Inc. grew its position in shares of LyondellBasell Industries by 311.0% during the 2nd quarter. Blue Trust Inc. now owns 300 shares of the specialty chemicals company’s stock worth $31,000 after buying an additional 227 shares during the period. Institutional investors and hedge funds 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.