LyondellBasell Industries (NYSE:LYB) Price Target Lowered to $52.00 at JPMorgan Chase & Co.

LyondellBasell Industries (NYSE:LYB) had its target price decreased by JPMorgan Chase & Co. from $60.00 to $52.00 in a report published on Monday,Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the specialty chemicals company’s stock.

Other research analysts have also issued reports about the stock. Piper Sandler decreased their target price on shares of LyondellBasell Industries from $67.00 to $66.00 and set a “neutral” rating on the stock in a research note on Thursday, May 1st. BMO Capital Markets decreased their target price on shares of LyondellBasell Industries from $65.00 to $60.00 in a research note on Friday, June 27th. The Goldman Sachs Group decreased their target price on shares of LyondellBasell Industries from $81.00 to $65.00 and set a “sell” rating on the stock in a research note on Monday, April 28th. Bank Of America (Bofa) decreased their target price on shares of LyondellBasell Industries from $56.00 to $55.00 in a research note on Monday, June 30th. Finally, UBS Group decreased their target price on shares of LyondellBasell Industries from $50.00 to $49.00 and set a “sell” rating on the stock in a research note on Wednesday, July 9th. Three investment analysts have rated the stock with a sell rating, ten have given a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $64.38.

LyondellBasell Industries Trading Down 4.7%

Shares of LyondellBasell Industries stock opened at $50.89 on Monday. The firm has a market capitalization of $16.36 billion, a PE ratio of 66.10, a P/E/G ratio of 3.13 and a beta of 0.85. LyondellBasell Industries has a twelve month low of $50.77 and a twelve month high of $99.36. The firm’s 50-day moving average price is $60.02 and its 200 day moving average price is $65.01. The company has a current ratio of 1.77, a quick ratio of 1.04 and a debt-to-equity ratio of 0.94.

LyondellBasell Industries (NYSE:LYB) last issued its quarterly earnings results on Friday, August 1st. The specialty chemicals company reported $0.62 earnings per share for the quarter, missing analysts’ consensus estimates of $0.87 by ($0.25). The company had revenue of $7.66 billion during the quarter, compared to analysts’ expectations of $7.58 billion. LyondellBasell Industries had a net margin of 0.74% and a return on equity of 9.35%. The company’s quarterly revenue was down 11.8% compared to the same quarter last year. During the same period in the prior year, the business posted $2.24 earnings per share. On average, sell-side analysts predict that LyondellBasell Industries will post 6.31 EPS for the current fiscal year.

LyondellBasell Industries Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 2nd. Stockholders of record on Monday, August 25th will be given a dividend of $1.37 per share. This represents a $5.48 annualized dividend and a dividend yield of 10.8%. LyondellBasell Industries’s payout ratio is presently 711.69%.

Institutional Trading of LyondellBasell Industries

Institutional investors have recently made changes to their positions in the company. Rossby Financial LCC purchased a new stake in shares of LyondellBasell Industries during the 1st quarter valued at approximately $25,000. JFS Wealth Advisors LLC increased its holdings in LyondellBasell Industries by 352.3% in the 1st quarter. JFS Wealth Advisors LLC now owns 398 shares of the specialty chemicals company’s stock valued at $28,000 after purchasing an additional 310 shares during the last quarter. Investment Management Corp VA ADV increased its holdings in LyondellBasell Industries by 177.6% in the 1st quarter. Investment Management Corp VA ADV now owns 408 shares of the specialty chemicals company’s stock valued at $29,000 after purchasing an additional 261 shares during the last quarter. Hilltop National Bank acquired a new stake in LyondellBasell Industries in the 2nd quarter valued at approximately $29,000. Finally, Lazard Asset Management LLC increased its holdings in LyondellBasell Industries by 84.9% in the 4th quarter. Lazard Asset Management LLC now owns 466 shares of the specialty chemicals company’s stock valued at $34,000 after purchasing an additional 214 shares during the last quarter. Hedge funds and other institutional investors own 71.20% of the company’s stock.

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.