LyondellBasell Industries (NYSE:LYB) Price Target Cut to $64.00 by Analysts at BMO Capital Markets

LyondellBasell Industries (NYSE:LYB) had its price target cut by BMO Capital Markets from $88.00 to $64.00 in a report issued on Monday,Benzinga reports. They currently have a market perform rating on the specialty chemicals company’s stock.

Other research analysts have also recently issued research reports about the stock. Wall Street Zen upgraded shares of LyondellBasell Industries from a “hold” rating to a “buy” rating in a report on Sunday. Zacks Research cut shares of LyondellBasell Industries from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 1st. Deutsche Bank Aktiengesellschaft upped their target price on shares of LyondellBasell Industries from $75.00 to $80.00 and gave the stock a “hold” rating in a research note on Tuesday, May 5th. Evercore boosted their price target on LyondellBasell Industries from $70.00 to $73.00 in a report on Thursday, May 14th. Finally, Wells Fargo & Company raised LyondellBasell Industries from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $80.00 to $98.00 in a research report on Thursday, May 28th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, eight have assigned a Hold rating and four have issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $72.22.

LyondellBasell Industries Stock Performance

LYB stock opened at $54.12 on Monday. LyondellBasell Industries has a 1-year low of $41.58 and a 1-year high of $83.94. The company has a current ratio of 1.54, a quick ratio of 1.03 and a debt-to-equity ratio of 1.12. The firm has a market cap of $17.47 billion, a PE ratio of -21.71, a P/E/G ratio of 0.18 and a beta of 0.32. The business’s 50-day moving average price is $66.09 and its two-hundred day moving average price is $61.86.

LyondellBasell Industries (NYSE:LYB) last released its quarterly earnings results on Friday, May 1st. The specialty chemicals company reported $0.49 EPS for the quarter, topping analysts’ consensus estimates of $0.31 by $0.18. LyondellBasell Industries had a positive return on equity of 5.68% and a negative net margin of 2.68%.The company had revenue of $7.20 billion for the quarter, compared to analyst estimates of $7.53 billion. During the same quarter last year, the firm posted $0.33 earnings per share. LyondellBasell Industries’s revenue was down 6.3% compared to the same quarter last year. As a group, research analysts forecast that LyondellBasell Industries will post 8.58 earnings per share for the current year.

LyondellBasell Industries Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 8th. Shareholders of record on Monday, June 1st were given a dividend of $0.69 per share. The ex-dividend date of this dividend was Monday, June 1st. This represents a $2.76 annualized dividend and a dividend yield of 5.1%. LyondellBasell Industries’s payout ratio is -110.84%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Stance Capital LLC acquired a new position in LyondellBasell Industries in the 3rd quarter valued at $27,000. Banque Cantonale Vaudoise acquired a new position in shares of LyondellBasell Industries during the 1st quarter worth approximately $48,000. Quarry LP bought a new position in shares of LyondellBasell Industries during the third quarter worth approximately $31,000. Clearstead Advisors LLC boosted its stake in shares of LyondellBasell Industries by 140.3% in the fourth quarter. Clearstead Advisors LLC now owns 668 shares of the specialty chemicals company’s stock valued at $29,000 after buying an additional 390 shares during the period. Finally, CYBER HORNET ETFs LLC acquired a new stake in LyondellBasell Industries during the second quarter worth approximately $39,000. Institutional investors 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.