Brokerages Set LyondellBasell Industries (NYSE:LYB) Target Price at $101.70

LyondellBasell Industries (NYSE:LYB) has been given an average recommendation of “Hold” by the thirteen research firms that are presently covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating on the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $101.70.

A number of analysts have recently weighed in on the company. JPMorgan Chase & Co. cut their price objective on LyondellBasell Industries from $110.00 to $100.00 and set an “overweight” rating on the stock in a research report on Monday, November 4th. Wells Fargo & Company reduced their price target on LyondellBasell Industries from $110.00 to $105.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 5th. StockNews.com raised LyondellBasell Industries from a “hold” rating to a “buy” rating in a research report on Saturday. Mizuho reduced their target price on shares of LyondellBasell Industries from $101.00 to $97.00 and set a “neutral” rating on the stock in a report on Monday, November 4th. Finally, Piper Sandler decreased their price target on shares of LyondellBasell Industries from $117.00 to $112.00 and set an “overweight” rating for the company in a research note on Friday, November 8th.

Institutional Investors Weigh In On LyondellBasell Industries

Institutional investors have recently modified their holdings of the stock. CVA Family Office LLC boosted its position in LyondellBasell Industries by 155.9% during the 3rd quarter. CVA Family Office LLC now owns 261 shares of the specialty chemicals company’s stock valued at $25,000 after purchasing an additional 159 shares during the period. Matrix Trust Co bought a new position in shares of LyondellBasell Industries during the third quarter worth about $30,000. Blue Trust Inc. increased its holdings in shares of LyondellBasell Industries by 311.0% in the 2nd quarter. Blue Trust Inc. now owns 300 shares of the specialty chemicals company’s stock worth $31,000 after acquiring an additional 227 shares during the period. Ashton Thomas Securities LLC bought a new stake in LyondellBasell Industries in the 3rd quarter valued at about $31,000. Finally, Independence Bank of Kentucky boosted its stake in LyondellBasell Industries by 125.6% during the 2nd quarter. Independence Bank of Kentucky now owns 388 shares of the specialty chemicals company’s stock valued at $37,000 after purchasing an additional 216 shares during the period. Institutional investors and hedge funds own 71.20% of the company’s stock.

LyondellBasell Industries Price Performance

LYB stock opened at $82.03 on Friday. LyondellBasell Industries has a 52-week low of $81.06 and a 52-week high of $107.02. The company has a quick ratio of 1.25, a current ratio of 2.13 and a debt-to-equity ratio of 0.81. The stock has a market cap of $26.64 billion, a price-to-earnings ratio of 12.49, a price-to-earnings-growth ratio of 2.33 and a beta of 1.08. The business has a fifty day moving average of $88.88 and a two-hundred day moving average of $93.62.

LyondellBasell Industries (NYSE:LYB) last posted its earnings results on Friday, November 1st. The specialty chemicals company reported $1.88 EPS 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 company had revenue of $10.33 billion during the quarter, compared to analyst estimates of $10.60 billion. During the same period in the previous year, the company earned $2.46 EPS. The company’s quarterly revenue was down 2.8% compared to the same quarter last year. As a group, research analysts anticipate that LyondellBasell Industries will post 7.09 earnings per share for the current year.

LyondellBasell Industries Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 9th. Shareholders of record on Monday, December 2nd will be issued a dividend of $1.34 per share. The ex-dividend date is Monday, December 2nd. This represents a $5.36 annualized dividend and a yield of 6.53%. LyondellBasell Industries’s dividend payout ratio is presently 81.58%.

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.