Wells Fargo & Company Has Lowered Expectations for LyondellBasell Industries (NYSE:LYB) Stock Price

LyondellBasell Industries (NYSE:LYB) had its target price cut by Wells Fargo & Company from $110.00 to $105.00 in a research note released on Tuesday,Benzinga reports. They currently have an overweight rating on the specialty chemicals company’s stock.

LYB has been the topic of a number of other research reports. JPMorgan Chase & Co. lowered their price objective on LyondellBasell Industries from $110.00 to $100.00 and set an “overweight” rating on the stock in a report on Monday. Barclays decreased their price target on LyondellBasell Industries from $99.00 to $95.00 and set an “equal weight” rating on the stock in a research note on Monday. Evercore ISI raised LyondellBasell Industries to a “hold” rating in a research note on Monday, August 5th. Deutsche Bank Aktiengesellschaft decreased their price target on LyondellBasell Industries from $100.00 to $94.00 and set a “hold” rating on the stock in a research note on Monday. Finally, Royal Bank of Canada decreased their price target on LyondellBasell Industries from $110.00 to $104.00 and set an “outperform” rating on the stock in a research note on Monday. One research analyst has rated the stock with a sell rating, eight have given a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $101.70.

LyondellBasell Industries Stock Performance

LYB traded down $1.23 during trading on Tuesday, reaching $86.10. The company’s stock had a trading volume of 468,089 shares, compared to its average volume of 1,856,805. LyondellBasell Industries has a 52-week low of $83.36 and a 52-week high of $107.02. The company’s fifty day moving average price is $92.81 and its 200-day moving average price is $95.71. The company has a market capitalization of $27.96 billion, a price-to-earnings ratio of 13.10, a price-to-earnings-growth ratio of 1.63 and a beta of 1.08. 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 announced 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 business had revenue of $10.33 billion during the quarter, compared to analysts’ expectations of $10.60 billion. During the same period in the prior year, the firm posted $2.46 EPS. LyondellBasell Industries’s revenue for the quarter was down 2.8% compared to the same quarter last year. On average, equities analysts forecast that LyondellBasell Industries will post 7.38 earnings per share for the current fiscal year.

LyondellBasell Industries Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Monday, August 26th were issued a dividend of $1.34 per share. The ex-dividend date was Monday, August 26th. This represents a $5.36 dividend on an annualized basis and a dividend yield of 6.23%. LyondellBasell Industries’s payout ratio is 81.58%.

Institutional Trading of LyondellBasell Industries

A number of institutional investors and hedge funds have recently made changes to their positions in the company. State Board of Administration of Florida Retirement System boosted its position in LyondellBasell Industries by 8.4% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 282,374 shares of the specialty chemicals company’s stock worth $26,512,000 after purchasing an additional 21,809 shares during the period. Banco Santander S.A. purchased a new position in LyondellBasell Industries in the 1st quarter valued at about $3,607,000. Foresight Capital Management Advisors Inc. purchased a new position in LyondellBasell Industries in the 2nd quarter valued at about $1,416,000. PGGM Investments boosted its position in LyondellBasell Industries by 47.9% in the 2nd quarter. PGGM Investments now owns 22,148 shares of the specialty chemicals company’s stock valued at $2,119,000 after buying an additional 7,168 shares during the last quarter. Finally, Capital World Investors boosted its position in LyondellBasell Industries by 28.9% in the 1st quarter. Capital World Investors now owns 2,675,701 shares of the specialty chemicals company’s stock valued at $273,671,000 after buying an additional 600,554 shares during the last quarter. 71.20% of the stock is currently owned by institutional investors and hedge funds.

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.