LyondellBasell Industries (NYSE:LYB) Price Target Raised to $113.00

LyondellBasell Industries (NYSE:LYB) had its price target raised by Royal Bank of Canada from $107.00 to $113.00 in a research report released on Monday, Benzinga reports. They currently have an outperform rating on the specialty chemicals company’s stock.

Several other brokerages have also commented on LYB. Barclays boosted their price target on LyondellBasell Industries from $98.00 to $100.00 and gave the stock an equal weight rating in a research note on Thursday, April 4th. Wells Fargo & Company boosted their price objective on shares of LyondellBasell Industries from $105.00 to $117.00 and gave the stock an overweight rating in a research report on Tuesday, April 2nd. JPMorgan Chase & Co. lifted their target price on shares of LyondellBasell Industries from $100.00 to $105.00 and gave the stock an overweight rating in a research report on Friday, March 22nd. Deutsche Bank Aktiengesellschaft lowered shares of LyondellBasell Industries from a buy rating to a hold rating and set a $105.00 price target on the stock. in a research report on Wednesday, January 10th. Finally, Mizuho increased their target price on LyondellBasell Industries from $98.00 to $108.00 and gave the company a neutral rating in a report on Monday. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, LyondellBasell Industries currently has an average rating of Hold and an average price target of $104.75.

LyondellBasell Industries Stock Down 0.5 %

LyondellBasell Industries stock opened at $99.52 on Monday. The stock’s 50 day moving average price is $101.07 and its 200 day moving average price is $96.65. LyondellBasell Industries has a 1-year low of $84.80 and a 1-year high of $106.69. The company has a market cap of $32.41 billion, a PE ratio of 15.38, a price-to-earnings-growth ratio of 1.25 and a beta of 1.19. The company has a debt-to-equity ratio of 0.85, a current ratio of 2.12 and a quick ratio of 1.32.

LyondellBasell Industries (NYSE:LYB) last posted its quarterly earnings results on Friday, April 26th. The specialty chemicals company reported $1.53 earnings per share for the quarter, topping analysts’ consensus estimates of $1.36 by $0.17. LyondellBasell Industries had a net margin of 5.20% and a return on equity of 19.31%. The business had revenue of $9.93 billion for the quarter, compared to analysts’ expectations of $9.70 billion. During the same period in the prior year, the company posted $2.50 EPS. The business’s revenue for the quarter was down 3.1% on a year-over-year basis. On average, sell-side analysts predict that LyondellBasell Industries will post 8.69 EPS for the current fiscal year.

LyondellBasell Industries Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 11th. Stockholders of record on Monday, March 4th were issued a dividend of $1.25 per share. The ex-dividend date of this dividend was Friday, March 1st. This represents a $5.00 annualized dividend and a dividend yield of 5.02%. LyondellBasell Industries’s payout ratio is currently 77.28%.

Insider Activity at LyondellBasell Industries

In other LyondellBasell Industries news, Director Robin W.T. Buchanan sold 18,111 shares of LyondellBasell Industries stock in a transaction on Friday, March 15th. The shares were sold at an average price of $100.46, for a total value of $1,819,431.06. Following the transaction, the director now owns 12,276 shares in the company, valued at approximately $1,233,246.96. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, CFO Michael C. Mcmurray sold 16,940 shares of the firm’s stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $100.84, for a total value of $1,708,229.60. Following the transaction, the chief financial officer now owns 88,858 shares in the company, valued at $8,960,440.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Robin W.T. Buchanan sold 18,111 shares of the stock in a transaction on Friday, March 15th. The stock was sold at an average price of $100.46, for a total transaction of $1,819,431.06. Following the completion of the sale, the director now directly owns 12,276 shares of the company’s stock, valued at approximately $1,233,246.96. The disclosure for this sale can be found here. Over the last three months, insiders sold 80,853 shares of company stock worth $8,077,267. 0.11% of the stock is owned by company insiders.

Hedge Funds Weigh In On LyondellBasell Industries

A number of institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in LyondellBasell Industries by 0.9% during the fourth quarter. Vanguard Group Inc. now owns 31,223,459 shares of the specialty chemicals company’s stock valued at $2,968,726,000 after buying an additional 290,401 shares in the last quarter. FMR LLC increased its stake in LyondellBasell Industries by 10.3% during the third quarter. FMR LLC now owns 8,408,551 shares of the specialty chemicals company’s stock valued at $796,290,000 after purchasing an additional 787,221 shares during the last quarter. Morgan Stanley lifted its position in shares of LyondellBasell Industries by 9.9% in the 3rd quarter. Morgan Stanley now owns 6,305,596 shares of the specialty chemicals company’s stock worth $597,140,000 after buying an additional 569,887 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of LyondellBasell Industries by 0.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 5,683,892 shares of the specialty chemicals company’s stock valued at $540,424,000 after buying an additional 33,212 shares during the last quarter. Finally, Federated Hermes Inc. raised its stake in LyondellBasell Industries by 4.0% during the third quarter. Federated Hermes Inc. now owns 5,667,924 shares of the specialty chemicals company’s stock worth $536,752,000 after acquiring an additional 217,461 shares during the period. Institutional investors and hedge funds own 71.20% of the company’s stock.

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.