Morgan Stanley Lowers LyondellBasell Industries (NYSE:LYB) Price Target to $85.00

LyondellBasell Industries (NYSE:LYB) had its target price trimmed by Morgan Stanley from $90.00 to $85.00 in a research report sent to investors on Tuesday morning,Benzinga reports. The firm currently has an overweight rating on the specialty chemicals company’s stock.

A number of other analysts have also recently weighed in on LYB. JPMorgan Chase & Co. decreased their target price on shares of LyondellBasell Industries from $100.00 to $90.00 and set an “overweight” rating on the stock in a research note on Friday, December 6th. Barclays reduced their price objective on LyondellBasell Industries from $90.00 to $80.00 and set an “equal weight” rating on the stock in a research report on Monday. UBS Group dropped their target price on LyondellBasell Industries from $77.00 to $76.00 and set a “neutral” rating for the company in a research report on Monday. Wells Fargo & Company reduced their price target on LyondellBasell Industries from $95.00 to $90.00 and set an “overweight” rating on the stock in a report on Monday. Finally, The Goldman Sachs Group dropped their price objective on shares of LyondellBasell Industries from $96.00 to $86.00 and set a “sell” rating for the company in a report on Thursday, December 12th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $89.17.

LyondellBasell Industries Price Performance

LyondellBasell Industries stock opened at $78.25 on Tuesday. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.13 and a current ratio of 1.83. LyondellBasell Industries has a 52 week low of $72.21 and a 52 week high of $107.02. The stock has a market capitalization of $25.41 billion, a P/E ratio of 18.90, a price-to-earnings-growth ratio of 5.11 and a beta of 1.05. The stock has a fifty day moving average of $76.30 and a 200-day moving average of $86.97.

LyondellBasell Industries (NYSE:LYB) last issued its earnings results on Friday, January 31st. The specialty chemicals company reported $0.75 EPS for the quarter, missing the consensus estimate of $1.28 by ($0.53). LyondellBasell Industries had a return on equity of 15.97% and a net margin of 3.39%. During the same period last year, the company posted $1.26 EPS. On average, sell-side analysts expect that LyondellBasell Industries will post 7.4 earnings per share for the current fiscal year.

LyondellBasell Industries Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, December 9th. Investors of record on Monday, December 2nd were paid a dividend of $1.34 per share. This represents a $5.36 dividend on an annualized basis and a yield of 6.85%. The ex-dividend date of this dividend was Monday, December 2nd. LyondellBasell Industries’s dividend payout ratio is presently 129.47%.

Insider Buying and Selling at LyondellBasell Industries

In other LyondellBasell Industries news, Director Robin W.T. Buchanan acquired 5,000 shares of the company’s stock in a transaction dated Friday, December 13th. The shares were bought at an average cost of $76.06 per share, with a total value of $380,300.00. Following the purchase, the director now directly owns 18,175 shares of the company’s stock, valued at $1,382,390.50. This trade 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 is available at this hyperlink. Insiders own 0.11% of the company’s stock.

Institutional Investors Weigh In On LyondellBasell Industries

Hedge funds have recently added to or reduced their stakes in the business. CVA Family Office LLC boosted its holdings in shares of LyondellBasell Industries by 155.9% during the 3rd quarter. CVA Family Office LLC now owns 261 shares of the specialty chemicals company’s stock worth $25,000 after buying an additional 159 shares in the last quarter. Matrix Trust Co acquired a new position in shares of LyondellBasell Industries during the 3rd quarter valued at $30,000. Ashton Thomas Securities LLC bought a new position in LyondellBasell Industries during the third quarter worth $31,000. Webster Bank N. A. grew its holdings in LyondellBasell Industries by 70.4% in the fourth quarter. Webster Bank N. A. now owns 346 shares of the specialty chemicals company’s stock worth $26,000 after purchasing an additional 143 shares during the period. Finally, Rosenberg Matthew Hamilton increased its stake in LyondellBasell Industries by 268.2% in the fourth quarter. Rosenberg Matthew Hamilton now owns 405 shares of the specialty chemicals company’s stock valued at $30,000 after purchasing an additional 295 shares in the last quarter. 71.20% of the stock is currently 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.