LyondellBasell Industries (NYSE:LYB) Given New $49.00 Price Target at Citigroup

LyondellBasell Industries (NYSE:LYB) had its target price upped by Citigroup from $46.00 to $49.00 in a report published on Tuesday,Benzinga reports. They currently have a neutral rating on the specialty chemicals company’s stock.

LYB has been the subject of several other reports. Mizuho lifted their target price on LyondellBasell Industries from $49.00 to $53.00 and gave the stock a “neutral” rating in a research report on Friday, January 30th. BMO Capital Markets reaffirmed an “underperform” rating and issued a $36.00 price target (down previously from $48.00) on shares of LyondellBasell Industries in a research note on Monday, December 15th. KeyCorp reissued a “sector weight” rating on shares of LyondellBasell Industries in a research report on Monday. Royal Bank Of Canada raised their target price on shares of LyondellBasell Industries from $44.00 to $49.00 and gave the stock a “sector perform” rating in a research report on Friday, January 16th. Finally, Evercore ISI lowered their price target on LyondellBasell Industries from $65.00 to $57.00 and set an “in-line” rating for the company in a report on Tuesday, November 11th. One research analyst has rated the stock with a Buy rating, seventeen have given a Hold rating and five have issued a Sell rating to the company. According to MarketBeat, LyondellBasell Industries currently has an average rating of “Reduce” and an average target price of $51.28.

LyondellBasell Industries Stock Up 6.5%

Shares of NYSE LYB opened at $53.50 on Tuesday. LyondellBasell Industries has a 1 year low of $41.58 and a 1 year high of $78.96. The firm has a 50-day simple moving average of $46.72 and a two-hundred day simple moving average of $49.42. The company has a market cap of $17.22 billion, a P/E ratio of -22.96 and a beta of 0.70. The company has a debt-to-equity ratio of 1.20, a current ratio of 1.77 and a quick ratio of 1.20.

LyondellBasell Industries (NYSE:LYB) last released its earnings results on Friday, January 30th. The specialty chemicals company reported ($0.26) EPS for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.44). LyondellBasell Industries had a negative net margin of 2.46% and a positive return on equity of 4.94%. The business had revenue of $7.09 billion for the quarter, compared to the consensus estimate of $6.82 billion. During the same period in the prior year, the company posted $0.75 EPS. The company’s quarterly revenue was down 9.2% compared to the same quarter last year. Research analysts anticipate that LyondellBasell Industries will post 6.31 earnings per share for the current year.

LyondellBasell Industries Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 8th. Investors of record on Monday, December 1st were paid a $1.37 dividend. The ex-dividend date of this dividend was Monday, December 1st. This represents a $5.48 dividend on an annualized basis and a yield of 10.2%. LyondellBasell Industries’s payout ratio is -235.19%.

Insiders Place Their Bets

In related news, EVP Kimberly A. Foley bought 5,661 shares of the company’s stock in a transaction on Wednesday, November 12th. The shares were acquired at an average price of $43.56 per share, with a total value of $246,593.16. Following the transaction, the executive vice president owned 67,688 shares of the company’s stock, valued at $2,948,489.28. The trade was a 9.13% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.14% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On LyondellBasell Industries

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. MTM Investment Management LLC purchased a new stake in shares of LyondellBasell Industries during the second quarter valued at about $26,000. Parvin Asset Management LLC bought a new position in shares of LyondellBasell Industries during the 2nd quarter worth approximately $26,000. Capital A Wealth Management LLC lifted its position in 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 acquiring an additional 442 shares during the last quarter. Stance Capital LLC acquired a new stake in LyondellBasell Industries in the third quarter valued at approximately $27,000. Finally, Hilltop National Bank purchased a new position in LyondellBasell Industries in the second quarter worth $29,000. Hedge funds and other institutional investors own 71.20% of the company’s stock.

LyondellBasell Industries Company Profile

LyondellBasell Industries N.V. (NYSE: LYB) is a global chemical company headquartered in Houston, Texas, that specializes in the production of polyolefins and advanced polymers. Through its extensive portfolio, the company supplies raw materials for a wide range of end markets, including packaging, automotive, construction, electronics and consumer goods. By combining proprietary process technologies with expertise in catalysts, LyondellBasell aims to deliver value-added solutions that enhance product performance and sustainability.

The company’s integrated operations encompass the manufacture of olefins and polyolefins, advanced polymer products, chemical intermediates and refining activities.