LyondellBasell Industries (NYSE:LYB) Upgraded by Royal Bank Of Canada to Outperform Rating

Royal Bank Of Canada upgraded shares of LyondellBasell Industries (NYSE:LYB) from a sector perform rating to an outperform rating in a research report report published on Monday, Marketbeat reports. Royal Bank Of Canada currently has $82.00 target price on the specialty chemicals company’s stock, up from their prior target price of $51.00.

A number of other research analysts also recently commented on the stock. UBS Group lowered their price target on shares of LyondellBasell Industries from $41.00 to $38.00 and set a “sell” rating for the company in a report on Tuesday, December 23rd. Wolfe Research reduced their price objective on LyondellBasell Industries from $39.00 to $38.00 and set an “underperform” rating on the stock in a research note on Monday, February 2nd. Evercore decreased their price objective on LyondellBasell Industries from $65.00 to $57.00 and set an “in-line” rating on the stock in a research report on Tuesday, November 11th. Mizuho raised their price objective on LyondellBasell Industries from $49.00 to $53.00 and gave the company a “neutral” rating in a research note on Friday, January 30th. Finally, Vertical Research upgraded LyondellBasell Industries from a “hold” rating to a “buy” rating and set a $75.00 target price for the company in a report on Monday. Four research analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and four have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $57.22.

LyondellBasell Industries Price Performance

LyondellBasell Industries stock opened at $66.78 on Monday. LyondellBasell Industries has a 52-week low of $41.58 and a 52-week high of $78.41. The company has a quick ratio of 1.20, a current ratio of 1.77 and a debt-to-equity ratio of 1.20. The firm’s fifty day moving average is $53.33 and its 200 day moving average is $49.81. The company has a market cap of $21.52 billion, a price-to-earnings ratio of -28.66, a PEG ratio of 0.60 and a beta of 0.64.

LyondellBasell Industries (NYSE:LYB) last issued its quarterly earnings data 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 positive return on equity of 4.93% and a negative net margin of 2.46%.The business had revenue of $7.09 billion during the quarter, compared to analysts’ expectations of $6.82 billion. During the same period in the previous year, the business earned $0.75 earnings per share. The business’s quarterly revenue was down 9.2% on a year-over-year basis. Sell-side analysts forecast that LyondellBasell Industries will post 6.31 EPS for the current fiscal year.

LyondellBasell Industries Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 9th. Investors of record on Monday, March 2nd were issued a dividend of $0.69 per share. This represents a $2.76 annualized dividend and a yield of 4.1%. The ex-dividend date was Monday, March 2nd. LyondellBasell Industries’s dividend payout ratio is presently -118.45%.

Institutional Trading of LyondellBasell Industries

Several institutional investors have recently added to or reduced their stakes in the company. Woodline Partners LP boosted its position in shares of LyondellBasell Industries by 40.4% during the first quarter. Woodline Partners LP now owns 21,899 shares of the specialty chemicals company’s stock valued at $1,542,000 after buying an additional 6,297 shares during the period. Focus Partners Wealth lifted its stake in shares of LyondellBasell Industries by 35.4% during the 1st quarter. Focus Partners Wealth now owns 6,866 shares of the specialty chemicals company’s stock worth $483,000 after acquiring an additional 1,796 shares during the last quarter. Resona Asset Management Co. Ltd. bought a new stake in shares of LyondellBasell Industries during the 2nd quarter worth approximately $4,627,000. Wedbush Securities Inc. purchased a new position in LyondellBasell Industries during the 2nd quarter valued at $1,551,000. Finally, Aviva PLC grew its position in LyondellBasell Industries by 6.4% in the 2nd quarter. Aviva PLC now owns 193,261 shares of the specialty chemicals company’s stock valued at $11,182,000 after acquiring an additional 11,548 shares during the last quarter. Institutional investors own 71.20% of the company’s stock.

About LyondellBasell Industries

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.