LyondellBasell Industries (NYSE:LYB) Upgraded to Buy at StockNews.com

StockNews.com upgraded shares of LyondellBasell Industries (NYSE:LYB) from a hold rating to a buy rating in a report published on Tuesday morning.

LYB has been the subject of a number of other research reports. 888 reissued a maintains rating on shares of LyondellBasell Industries in a report on Thursday, June 29th. Piper Sandler dropped their price target on LyondellBasell Industries from $113.00 to $108.00 in a research note on Thursday, June 29th. BMO Capital Markets boosted their price target on LyondellBasell Industries from $102.00 to $104.00 in a research note on Thursday, June 1st. Barclays dropped their price target on LyondellBasell Industries from $100.00 to $95.00 in a research note on Tuesday, July 11th. Finally, KeyCorp boosted their price target on LyondellBasell Industries from $80.00 to $85.00 and gave the company an underweight rating in a research note on Monday, August 7th. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of Hold and a consensus target price of $100.06.

LyondellBasell Industries Trading Down 0.1 %

Shares of LyondellBasell Industries stock opened at $100.17 on Tuesday. The business has a fifty day simple moving average of $96.13 and a two-hundred day simple moving average of $92.94. LyondellBasell Industries has a 1 year low of $71.46 and a 1 year high of $102.04. The company has a market capitalization of $32.47 billion, a price-to-earnings ratio of 15.55, a P/E/G ratio of 2.56 and a beta of 1.21. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.81 and a quick ratio of 1.07.

LyondellBasell Industries (NYSE:LYB) last announced its quarterly earnings results on Friday, August 4th. The specialty chemicals company reported $2.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.30 by $0.14. LyondellBasell Industries had a return on equity of 21.31% and a net margin of 4.92%. The business had revenue of $10.31 billion during the quarter, compared to the consensus estimate of $10.79 billion. During the same quarter last year, the firm posted $5.19 EPS. The company’s quarterly revenue was down 30.5% on a year-over-year basis. Research analysts forecast that LyondellBasell Industries will post 8.06 EPS for the current year.

LyondellBasell Industries Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 5th. Investors of record on Monday, August 28th were paid a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a dividend yield of 4.99%. The ex-dividend date was Friday, August 25th. LyondellBasell Industries’s dividend payout ratio is currently 77.64%.

Insider Buying and Selling

In related news, major shareholder Ai Investments Holdings Llc sold 483 shares of LyondellBasell Industries stock in a transaction that occurred on Friday, August 11th. The stock was sold at an average price of $99.61, for a total value of $48,111.63. Following the transaction, the insider now directly owns 765,996 shares of the company’s stock, valued at $76,300,861.56. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other LyondellBasell Industries news, major shareholder Ai Investments Holdings Llc sold 483 shares of the business’s stock in a transaction that occurred on Friday, August 11th. The stock was sold at an average price of $99.61, for a total value of $48,111.63. Following the transaction, the insider now directly owns 765,996 shares of the company’s stock, valued at $76,300,861.56. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Jeffrey A. Kaplan sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 29th. The shares were sold at an average price of $97.56, for a total value of $975,600.00. Following the completion of the transaction, the executive vice president now directly owns 49,876 shares in the company, valued at $4,865,902.56. The disclosure for this sale can be found here. 0.12% of the stock is owned by insiders.

Hedge Funds Weigh In On LyondellBasell Industries

Several institutional investors have recently added to or reduced their stakes in the business. Aspire Private Capital LLC acquired a new position in shares of LyondellBasell Industries during the first quarter worth approximately $12,017,920,000. Community Bank N.A. acquired a new position in shares of LyondellBasell Industries during the first quarter worth approximately $28,000. Compass Wealth Management LLC acquired a new position in shares of LyondellBasell Industries during the fourth quarter worth approximately $25,000. Steward Financial Group LLC raised its position in shares of LyondellBasell Industries by 77.1% during the second quarter. Steward Financial Group LLC now owns 317 shares of the specialty chemicals company’s stock worth $29,000 after purchasing an additional 138 shares during the period. Finally, Ossiam acquired a new position in shares of LyondellBasell Industries during the second quarter worth approximately $30,000. 91.41% of the stock is owned by institutional investors and hedge funds.

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.