Wolfe Research Cuts LyondellBasell Industries (NYSE:LYB) Price Target to $39.00

LyondellBasell Industries (NYSE:LYB) had its target price trimmed by Wolfe Research from $40.00 to $39.00 in a research note issued to investors on Friday,MarketScreener reports. The firm currently has an underperform rating on the specialty chemicals company’s stock.

Other equities research analysts have also recently issued reports about the stock. Wells Fargo & Company restated an “equal weight” rating and set a $45.00 price objective (down from $55.00) on shares of LyondellBasell Industries in a research note on Friday, December 19th. Vertical Research lowered shares of LyondellBasell Industries from a “buy” rating to a “hold” rating and set a $48.00 target price for the company. in a research report on Wednesday, January 7th. Weiss Ratings restated a “sell (d+)” rating on shares of LyondellBasell Industries in a research report on Wednesday, October 8th. Bank of America reduced their price target on shares of LyondellBasell Industries from $52.00 to $46.00 and set a “neutral” rating for the company in a research note on Thursday, January 8th. Finally, Evercore ISI lowered their price objective on shares of LyondellBasell Industries from $65.00 to $57.00 and set an “in-line” rating on the stock in a research note on Tuesday, November 11th. Two analysts have rated the stock with a Buy rating, sixteen have given a Hold rating and five have issued a Sell rating to the company. Based on data from MarketBeat, LyondellBasell Industries currently has an average rating of “Reduce” and a consensus target price of $52.42.

LyondellBasell Industries Stock Performance

LYB opened at $50.94 on Friday. The company has a current ratio of 1.57, a quick ratio of 0.93 and a debt-to-equity ratio of 1.00. The business’s 50 day moving average is $45.17 and its 200-day moving average is $50.47. The stock has a market cap of $16.40 billion, a PE ratio of -13.58 and a beta of 0.70. LyondellBasell Industries has a twelve month low of $41.58 and a twelve month high of $79.39.

LyondellBasell Industries (NYSE:LYB) last posted its earnings results on Friday, October 31st. The specialty chemicals company reported $1.01 EPS for the quarter, beating the consensus estimate of $0.80 by $0.21. LyondellBasell Industries had a positive return on equity of 7.50% and a negative net margin of 3.70%.The firm had revenue of $7.73 billion for the quarter, compared to analysts’ expectations of $7.41 billion. During the same period last year, the firm earned $1.88 EPS. The firm’s revenue was down 10.2% compared to the same quarter last year. On average, analysts predict that LyondellBasell Industries will post 6.31 earnings per share for the current year.

LyondellBasell Industries Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, December 8th. Investors of record on Monday, December 1st were issued a $1.37 dividend. This represents a $5.48 dividend on an annualized basis and a dividend yield of 10.8%. The ex-dividend date was Monday, December 1st. LyondellBasell Industries’s payout ratio is presently -146.13%.

Insider Activity

In related news, EVP Kimberly A. Foley bought 5,661 shares of LyondellBasell Industries stock in a transaction dated Wednesday, November 12th. The stock was acquired at an average cost of $43.56 per share, with a total value of $246,593.16. Following the completion of the acquisition, the executive vice president directly owned 67,688 shares in the company, valued at approximately $2,948,489.28. This trade represents a 9.13% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 0.14% of the stock is owned by company insiders.

Institutional Trading of LyondellBasell Industries

Several institutional investors and hedge funds have recently bought and sold shares of LYB. Crews Bank & Trust grew its position in LyondellBasell Industries by 16.4% during the 2nd quarter. Crews Bank & Trust now owns 1,245 shares of the specialty chemicals company’s stock worth $72,000 after purchasing an additional 175 shares in the last quarter. New York Life Investment Management LLC boosted its position in shares of LyondellBasell Industries by 0.5% in the second quarter. New York Life Investment Management LLC now owns 38,521 shares of the specialty chemicals company’s stock worth $2,229,000 after buying an additional 193 shares during the period. State of Michigan Retirement System grew its holdings in shares of LyondellBasell Industries by 0.3% during the second quarter. State of Michigan Retirement System now owns 78,165 shares of the specialty chemicals company’s stock valued at $4,523,000 after buying an additional 200 shares in the last quarter. Cooper Financial Group raised its position in LyondellBasell Industries by 4.3% during the third quarter. Cooper Financial Group now owns 5,146 shares of the specialty chemicals company’s stock valued at $252,000 after buying an additional 211 shares during the period. Finally, Ridgewood Investments LLC raised its position in LyondellBasell Industries by 1.3% during the second quarter. Ridgewood Investments LLC now owns 16,770 shares of the specialty chemicals company’s stock valued at $970,000 after buying an additional 212 shares during the period. Institutional investors and hedge funds own 71.20% of the company’s stock.

About LyondellBasell Industries

LyondellBasell Industries N.V. (NYSE: LYB) is a global chemical company headquartered in Houston, Texas, that specializes in the production of polyolefins and advanced polymers. Through its extensive portfolio, the company supplies raw materials for a wide range of end markets, including packaging, automotive, construction, electronics and consumer goods. By combining proprietary process technologies with expertise in catalysts, LyondellBasell aims to deliver value-added solutions that enhance product performance and sustainability.

The company’s integrated operations encompass the manufacture of olefins and polyolefins, advanced polymer products, chemical intermediates and refining activities.