LyondellBasell Industries (NYSE:LYB) Given New $65.00 Price Target at Evercore ISI

LyondellBasell Industries (NYSE:LYB) had its target price lowered by Evercore ISI from $90.00 to $65.00 in a report released on Tuesday morning,Benzinga reports. Evercore ISI currently has an in-line rating on the specialty chemicals company’s stock.

A number of other equities analysts also recently weighed in on LYB. Rothschild & Co Redburn cut their target price on LyondellBasell Industries from $80.00 to $75.00 and set a “buy” rating on the stock in a research note on Friday, September 12th. Wells Fargo & Company cut their price target on shares of LyondellBasell Industries from $75.00 to $65.00 and set an “overweight” rating on the stock in a report on Monday, August 4th. Argus cut shares of LyondellBasell Industries from a “buy” rating to a “hold” rating in a research report on Friday, May 30th. Royal Bank Of Canada decreased their target price on LyondellBasell Industries from $64.00 to $54.00 and set a “sector perform” rating for the company in a research report on Tuesday, August 5th. Finally, JPMorgan Chase & Co. reduced their price target on LyondellBasell Industries from $60.00 to $52.00 and set a “neutral” rating for the company in a research report on Monday, August 4th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, ten have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $64.00.

LyondellBasell Industries Stock Performance

Shares of LyondellBasell Industries stock opened at $50.39 on Tuesday. LyondellBasell Industries has a 1-year low of $47.55 and a 1-year high of $97.60. The company has a current ratio of 1.77, a quick ratio of 1.04 and a debt-to-equity ratio of 0.94. The company has a 50 day moving average of $55.76 and a 200-day moving average of $59.31. The company has a market cap of $16.21 billion, a PE ratio of 65.44 and a beta of 0.85.

LyondellBasell Industries (NYSE:LYB) last issued its quarterly earnings data on Friday, August 1st. The specialty chemicals company reported $0.62 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.87 by ($0.25). LyondellBasell Industries had a net margin of 0.74% and a return on equity of 9.35%. The business had revenue of $7.66 billion during the quarter, compared to the consensus estimate of $7.58 billion. During the same quarter last year, the business earned $2.24 EPS. The firm’s quarterly revenue was down 11.8% compared to the same quarter last year. As a group, equities research analysts forecast that LyondellBasell Industries will post 6.31 earnings per share for the current fiscal year.

LyondellBasell Industries Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Monday, August 25th were paid a dividend of $1.37 per share. The ex-dividend date of this dividend was Monday, August 25th. This represents a $5.48 dividend on an annualized basis and a dividend yield of 10.9%. LyondellBasell Industries’s dividend payout ratio (DPR) is presently 711.69%.

Insider Transactions at LyondellBasell Industries

In related news, CEO Peter Z. E. Vanacker sold 20,000 shares of the business’s stock in a transaction that occurred on Friday, August 15th. The stock was sold at an average price of $53.57, for a total transaction of $1,071,400.00. Following the completion of the sale, the chief executive officer directly owned 160,351 shares in the company, valued at approximately $8,590,003.07. The trade was a 11.09% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.14% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Allen Mooney & Barnes Investment Advisors LLC boosted its holdings in LyondellBasell Industries by 69.1% in the second quarter. Allen Mooney & Barnes Investment Advisors LLC now owns 249,852 shares of the specialty chemicals company’s stock valued at $14,456,000 after purchasing an additional 102,140 shares in the last quarter. M&T Bank Corp boosted its holdings in LyondellBasell Industries by 1.1% in the 1st quarter. M&T Bank Corp now owns 19,950 shares of the specialty chemicals company’s stock valued at $1,405,000 after purchasing an additional 209 shares in the last quarter. KLP Kapitalforvaltning AS grew its holdings in LyondellBasell Industries by 166.2% during the first quarter. KLP Kapitalforvaltning AS now owns 237,831 shares of the specialty chemicals company’s stock worth $16,743,000 after acquiring an additional 148,500 shares during the period. Private Advisor Group LLC lifted its stake in shares of LyondellBasell Industries by 44.3% in the first quarter. Private Advisor Group LLC now owns 14,474 shares of the specialty chemicals company’s stock valued at $1,019,000 after purchasing an additional 4,442 shares during the period. Finally, GAMMA Investing LLC grew its holdings in shares of LyondellBasell Industries by 56.7% in the 1st quarter. GAMMA Investing LLC now owns 3,015 shares of the specialty chemicals company’s stock worth $212,000 after acquiring an additional 1,091 shares during the period. 71.20% of the stock is currently owned by institutional investors and hedge funds.

About LyondellBasell Industries

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.