The Goldman Sachs Group Cuts LyondellBasell Industries (NYSE:LYB) Price Target to $86.00

LyondellBasell Industries (NYSE:LYB) had its price target decreased by The Goldman Sachs Group from $96.00 to $86.00 in a report released on Thursday,Benzinga reports. The Goldman Sachs Group currently has a sell rating on the specialty chemicals company’s stock.

LYB has been the topic of several other reports. StockNews.com upgraded LyondellBasell Industries from a “hold” rating to a “buy” rating in a report on Saturday, November 30th. Royal Bank of Canada reduced their price objective on LyondellBasell Industries from $110.00 to $104.00 and set an “outperform” rating for the company in a research note on Monday, November 4th. Deutsche Bank Aktiengesellschaft lowered their target price on shares of LyondellBasell Industries from $100.00 to $94.00 and set a “hold” rating on the stock in a research note on Monday, November 4th. Barclays dropped their target price on shares of LyondellBasell Industries from $99.00 to $95.00 and set an “equal weight” rating for the company in a report on Monday, November 4th. Finally, Wells Fargo & Company decreased their price target on shares of LyondellBasell Industries from $105.00 to $95.00 and set an “overweight” rating on the stock in a research note on Tuesday, December 10th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $97.36.

LyondellBasell Industries Trading Down 0.7 %

Shares of NYSE:LYB opened at $75.67 on Thursday. The business’s 50 day moving average price is $85.32 and its 200-day moving average price is $92.16. LyondellBasell Industries has a 1 year low of $74.92 and a 1 year high of $107.02. The firm has a market capitalization of $24.57 billion, a price-to-earnings ratio of 11.52, a price-to-earnings-growth ratio of 2.16 and a beta of 1.05. The company has a debt-to-equity ratio of 0.81, a current ratio of 2.13 and a quick ratio of 1.25.

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 return on equity of 17.05% and a net margin of 5.29%. The company had revenue of $10.33 billion for the quarter, compared to analyst estimates of $10.60 billion. During the same quarter in the prior year, the company posted $2.46 earnings per share. The business’s revenue was down 2.8% on a year-over-year basis. On average, equities research analysts forecast that LyondellBasell Industries will post 7.02 earnings per share for the current fiscal year.

LyondellBasell Industries Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 9th. Investors of record on Monday, December 2nd were given a $1.34 dividend. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $5.36 annualized dividend and a yield of 7.08%. LyondellBasell Industries’s payout ratio is 81.58%.

Hedge Funds Weigh In On LyondellBasell Industries

Several large investors have recently modified their holdings of LYB. Wealth Enhancement Advisory Services LLC lifted its stake in LyondellBasell Industries by 13.0% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 34,378 shares of the specialty chemicals company’s stock worth $3,289,000 after acquiring an additional 3,957 shares in the last quarter. Envestnet Portfolio Solutions Inc. grew its holdings in shares of LyondellBasell Industries by 2.2% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 39,500 shares of the specialty chemicals company’s stock valued at $3,779,000 after purchasing an additional 838 shares in the last quarter. Fiduciary Financial Group LLC purchased a new stake in LyondellBasell Industries during the 2nd quarter worth approximately $329,000. Blue Trust Inc. lifted its holdings in 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 in the last quarter. Finally, Stanley Laman Group Ltd. boosted its position in LyondellBasell Industries by 3.8% in the 2nd quarter. Stanley Laman Group Ltd. now owns 35,311 shares of the specialty chemicals company’s stock valued at $3,378,000 after buying an additional 1,287 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.