LyondellBasell Industries (NYSE:LYB) Price Target Cut to $43.00 by Analysts at UBS Group

LyondellBasell Industries (NYSE:LYB) had its price target trimmed by UBS Group from $44.00 to $43.00 in a report released on Monday,Benzinga reports. The brokerage currently has a sell rating on the specialty chemicals company’s stock.

Several other brokerages have also recently weighed in on LYB. Citigroup decreased their price target on LyondellBasell Industries from $53.00 to $49.00 and set a “neutral” rating for the company in a research note on Thursday, October 2nd. Rothschild & Co Redburn decreased their target price on shares of LyondellBasell Industries from $80.00 to $75.00 and set a “buy” rating for the company in a research report on Friday, September 12th. BMO Capital Markets dropped their price target on shares of LyondellBasell Industries from $60.00 to $58.00 and set a “market perform” rating on the stock in a research report on Wednesday, August 6th. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of LyondellBasell Industries from $58.00 to $53.00 and set a “hold” rating for the company in a research report on Wednesday, October 1st. Finally, Bank Of America (Bofa) lowered their target price on shares of LyondellBasell Industries from $56.00 to $55.00 in a research note on Monday, June 30th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, ten have issued a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, LyondellBasell Industries presently has a consensus rating of “Hold” and an average price target of $60.07.

LyondellBasell Industries Trading Down 1.5%

LYB opened at $48.72 on Monday. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.77 and a quick ratio of 1.04. LyondellBasell Industries has a fifty-two week low of $47.55 and a fifty-two week high of $96.52. The company’s 50 day moving average price is $53.19 and its two-hundred day moving average price is $57.67. The firm has a market capitalization of $15.67 billion, a price-to-earnings ratio of 63.27 and a beta of 0.87.

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

LyondellBasell Industries Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Monday, August 25th were paid a $1.37 dividend. This represents a $5.48 annualized dividend and a yield of 11.2%. The ex-dividend date of this dividend was Monday, August 25th. LyondellBasell Industries’s payout ratio is 711.69%.

Insider Activity

In other news, CEO Peter Z. E. Vanacker sold 20,000 shares of the firm’s stock in a transaction dated Friday, August 15th. The stock was sold at an average price of $53.57, for a total value 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 $8,590,003.07. This trade represents a 11.09% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 0.14% of the stock is owned by company insiders.

Institutional Investors Weigh In On LyondellBasell Industries

A number of hedge funds have recently added to or reduced their stakes in the company. Rossby Financial LCC acquired a new position in shares of LyondellBasell Industries during the first quarter worth approximately $25,000. MTM Investment Management LLC acquired a new position in LyondellBasell Industries during the second quarter worth $26,000. Parvin Asset Management LLC bought a new position in shares of LyondellBasell Industries in the second quarter valued at $26,000. Capital A Wealth Management LLC grew its holdings in shares of LyondellBasell Industries by 6,314.3% during the second quarter. Capital A Wealth Management LLC now owns 449 shares of the specialty chemicals company’s stock valued at $26,000 after buying an additional 442 shares during the last quarter. Finally, JFS Wealth Advisors LLC increased its position in shares of LyondellBasell Industries by 352.3% during the first quarter. JFS Wealth Advisors LLC now owns 398 shares of the specialty chemicals company’s stock worth $28,000 after acquiring an additional 310 shares in the last quarter. Institutional investors and hedge funds own 71.20% of the company’s stock.

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.