LyondellBasell Industries (NYSE:LYB) Price Target Cut to $102.00 by Analysts at Barclays

LyondellBasell Industries (NYSE:LYBGet Rating) had its target price trimmed by Barclays from $110.00 to $102.00 in a research report released on Tuesday, Benzinga reports. The firm currently has an overweight rating on the specialty chemicals company’s stock.

Several other research analysts have also recently issued reports on the company. UBS Group decreased their price target on LyondellBasell Industries from $108.00 to $93.00 and set a neutral rating for the company in a research note on Wednesday, July 13th. StockNews.com cut LyondellBasell Industries from a buy rating to a hold rating in a research note on Wednesday. Piper Sandler decreased their price target on LyondellBasell Industries from $115.00 to $98.00 in a research note on Monday, July 25th. BMO Capital Markets upped their price objective on LyondellBasell Industries from $108.00 to $128.00 in a report on Thursday, May 5th. Finally, Mizuho cut their price objective on LyondellBasell Industries from $132.00 to $113.00 and set a buy rating for the company in a report on Wednesday. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of Hold and an average price target of $106.26.

LyondellBasell Industries Price Performance

Shares of LYB opened at $85.50 on Tuesday. The company has a market cap of $27.89 billion, a P/E ratio of 5.21, a PEG ratio of 0.62 and a beta of 1.27. The stock has a fifty day moving average price of $93.31 and a 200 day moving average price of $99.62. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.68 and a quick ratio of 1.01. LyondellBasell Industries has a 12 month low of $82.14 and a 12 month high of $117.22.

LyondellBasell Industries (NYSE:LYBGet Rating) last issued its quarterly earnings data on Friday, July 29th. The specialty chemicals company reported $5.19 EPS for the quarter, topping analysts’ consensus estimates of $4.91 by $0.28. The firm had revenue of $14.84 billion during the quarter, compared to the consensus estimate of $13.70 billion. LyondellBasell Industries had a return on equity of 49.41% and a net margin of 10.19%. The firm’s revenue was up 28.3% on a year-over-year basis. During the same period in the prior year, the business earned $6.13 EPS. On average, research analysts forecast that LyondellBasell Industries will post 17.12 earnings per share for the current year.

LyondellBasell Industries Dividend Announcement

The firm also recently disclosed a special dividend, which was paid on Monday, June 13th. Investors of record on Monday, June 6th were paid a $5.20 dividend. This represents a yield of 4.2%. The ex-dividend date was Friday, June 3rd. LyondellBasell Industries’s dividend payout ratio is currently 29.01%.

Insider Buying and Selling

In other LyondellBasell Industries news, Director Jagjeet S. Bindra sold 2,640 shares of the company’s stock in a transaction dated Tuesday, June 7th. The stock was sold at an average price of $111.44, for a total value of $294,201.60. Following the transaction, the director now directly owns 7,020 shares of the company’s stock, valued at approximately $782,308.80. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other LyondellBasell Industries news, Director Jagjeet S. Bindra sold 2,640 shares of the company’s stock in a transaction dated Tuesday, June 7th. The stock was sold at an average price of $111.44, for a total value of $294,201.60. Following the transaction, the director now directly owns 7,020 shares of the company’s stock, valued at approximately $782,308.80. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Michael C. Mcmurray sold 33,880 shares of the company’s stock in a transaction dated Wednesday, June 8th. The stock was sold at an average price of $110.94, for a total value of $3,758,647.20. Following the completion of the transaction, the chief financial officer now directly owns 39,612 shares in the company, valued at $4,394,555.28. The disclosure for this sale can be found here. Company insiders own 0.18% of the company’s stock.

Institutional Trading of LyondellBasell Industries

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in LYB. Vanguard Group Inc. lifted its position in shares of LyondellBasell Industries by 1.1% in the 1st quarter. Vanguard Group Inc. now owns 30,852,225 shares of the specialty chemicals company’s stock worth $3,172,226,000 after acquiring an additional 335,124 shares during the period. State Street Corp lifted its position in shares of LyondellBasell Industries by 2.9% in the 1st quarter. State Street Corp now owns 12,322,280 shares of the specialty chemicals company’s stock worth $1,266,977,000 after acquiring an additional 348,169 shares during the period. Wellington Management Group LLP lifted its position in shares of LyondellBasell Industries by 2.6% during the 1st quarter. Wellington Management Group LLP now owns 10,570,084 shares of the specialty chemicals company’s stock worth $1,086,816,000 after buying an additional 272,372 shares during the period. Geode Capital Management LLC lifted its position in shares of LyondellBasell Industries by 3.5% during the 4th quarter. Geode Capital Management LLC now owns 5,092,810 shares of the specialty chemicals company’s stock worth $469,192,000 after buying an additional 173,263 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of LyondellBasell Industries by 205.3% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 4,454,483 shares of the specialty chemicals company’s stock worth $458,010,000 after buying an additional 2,995,335 shares during the period. Institutional investors and hedge funds own 69.64% of the company’s stock.

LyondellBasell Industries Company Profile

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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.

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Analyst Recommendations for LyondellBasell Industries (NYSE:LYB)

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