The Goldman Sachs Group Issues Pessimistic Forecast for LyondellBasell Industries (NYSE:LYB) Stock Price

LyondellBasell Industries (NYSE:LYB) had its price target decreased by The Goldman Sachs Group from $81.00 to $65.00 in a report published on Monday,Benzinga reports. The Goldman Sachs Group currently has a sell rating on the specialty chemicals company’s stock.

A number of other research analysts have also commented on the stock. Royal Bank of Canada lowered shares of LyondellBasell Industries from an “outperform” rating to a “sector perform” rating and set a $62.00 price objective on the stock. in a research note on Wednesday, April 9th. Piper Sandler lowered their price objective on shares of LyondellBasell Industries from $84.00 to $67.00 and set a “neutral” rating on the stock in a research note on Monday, April 7th. Wells Fargo & Company lowered their price objective on shares of LyondellBasell Industries from $90.00 to $85.00 and set an “overweight” rating on the stock in a research note on Friday, April 4th. Barclays reduced their target price on shares of LyondellBasell Industries from $80.00 to $72.00 and set an “equal weight” rating for the company in a report on Tuesday, April 1st. Finally, UBS Group restated a “sell” rating and set a $51.00 target price (down from $76.00) on shares of LyondellBasell Industries in a report on Monday, April 7th. Three analysts have rated the stock with a sell rating, nine have given a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $74.75.

LyondellBasell Industries Price Performance

Shares of NYSE:LYB opened at $58.69 on Monday. LyondellBasell Industries has a 52 week low of $51.11 and a 52 week high of $107.02. The company has a current ratio of 1.83, a quick ratio of 1.13 and a debt-to-equity ratio of 0.84. The firm has a market capitalization of $18.95 billion, a P/E ratio of 14.18, a PEG ratio of 0.97 and a beta of 0.89. The firm’s 50 day moving average is $67.31 and its two-hundred day moving average is $75.44.

LyondellBasell Industries (NYSE:LYB) last posted its quarterly earnings data on Friday, April 25th. The specialty chemicals company reported $0.33 EPS for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.03). LyondellBasell Industries had a net margin of 3.39% and a return on equity of 15.97%. The company had revenue of $7.68 billion for the quarter, compared to analyst estimates of $7.69 billion. During the same quarter in the prior year, the business earned $1.53 EPS. LyondellBasell Industries’s revenue was down 7.6% compared to the same quarter last year. Analysts anticipate that LyondellBasell Industries will post 6.31 earnings per share for the current year.

LyondellBasell Industries Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 10th were paid a $1.34 dividend. This represents a $5.36 dividend on an annualized basis and a yield of 9.13%. The ex-dividend date of this dividend was Monday, March 10th. LyondellBasell Industries’s dividend payout ratio is 129.47%.

Insider Buying and Selling

In other news, Director Michael Sean Hanley acquired 3,750 shares of the firm’s stock in a transaction that occurred on Wednesday, March 12th. The stock was purchased at an average price of $72.05 per share, with a total value of $270,187.50. Following the purchase, the director now owns 16,028 shares of the company’s stock, valued at approximately $1,154,817.40. This trade represents a 30.54 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 0.14% of the company’s stock.

Hedge Funds Weigh In On LyondellBasell Industries

Hedge funds have recently modified their holdings of the stock. North Capital Inc. purchased a new position in LyondellBasell Industries in the first quarter valued at about $64,000. D.A. Davidson & CO. increased its position in LyondellBasell Industries by 36.3% in the 1st quarter. D.A. Davidson & CO. now owns 13,277 shares of the specialty chemicals company’s stock worth $935,000 after purchasing an additional 3,533 shares during the last quarter. Principal Financial Group Inc. increased its position in LyondellBasell Industries by 5.4% in the 1st quarter. Principal Financial Group Inc. now owns 316,402 shares of the specialty chemicals company’s stock worth $22,275,000 after purchasing an additional 16,237 shares during the last quarter. First Horizon Advisors Inc. increased its position in LyondellBasell Industries by 50.4% in the 1st quarter. First Horizon Advisors Inc. now owns 421,662 shares of the specialty chemicals company’s stock worth $29,685,000 after purchasing an additional 141,307 shares during the last quarter. Finally, Private Trust Co. NA increased its position in LyondellBasell Industries by 21.7% in the 1st quarter. Private Trust Co. NA now owns 4,794 shares of the specialty chemicals company’s stock worth $337,000 after purchasing an additional 855 shares during the last quarter. 71.20% of the stock is 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.