LyondellBasell Industries (NYSE:LYB) Given New $87.00 Price Target at Wells Fargo & Company

LyondellBasell Industries (NYSE:LYB) had its target price hoisted by Wells Fargo & Company from $70.00 to $87.00 in a report issued on Monday morning,Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the specialty chemicals company’s stock.

Other equities research analysts have also recently issued research reports about the stock. Royal Bank Of Canada upgraded shares of LyondellBasell Industries from a “sector perform” rating to an “outperform” rating and raised their price objective for the company from $51.00 to $82.00 in a research report on Monday, March 9th. Bank of America decreased their price target on shares of LyondellBasell Industries from $52.00 to $46.00 and set a “neutral” rating on the stock in a research note on Thursday, January 8th. Jefferies Financial Group raised their price target on shares of LyondellBasell Industries from $51.00 to $70.00 and gave the company a “hold” rating in a report on Tuesday, March 10th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of LyondellBasell Industries in a report on Thursday, January 22nd. Finally, BMO Capital Markets upgraded LyondellBasell Industries from an “underperform” rating to a “market perform” rating and increased their price objective for the company from $38.00 to $68.00 in a research report on Thursday, March 5th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, fourteen have given a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $66.56.

LyondellBasell Industries Price Performance

LyondellBasell Industries stock opened at $82.48 on Monday. The business’s fifty day moving average is $61.36 and its two-hundred day moving average is $51.75. The company has a debt-to-equity ratio of 1.20, a quick ratio of 1.20 and a current ratio of 1.77. The firm has a market cap of $26.57 billion, a P/E ratio of -35.40, a P/E/G ratio of 0.46 and a beta of 0.64. LyondellBasell Industries has a 52 week low of $41.58 and a 52 week high of $83.86.

LyondellBasell Industries (NYSE:LYB) last announced its earnings results on Saturday, February 21st. The specialty chemicals company reported ($0.26) earnings per share for the quarter. The business had revenue of $7.09 billion during the quarter. LyondellBasell Industries had a negative net margin of 2.46% and a positive return on equity of 4.93%. Equities research analysts forecast that LyondellBasell Industries will post 6.31 earnings per share for the current fiscal year.

LyondellBasell Industries Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 9th. Stockholders of record on Monday, March 2nd were paid a $0.69 dividend. The ex-dividend date of this dividend was Monday, March 2nd. This represents a $2.76 dividend on an annualized basis and a dividend yield of 3.3%. LyondellBasell Industries’s dividend payout ratio is -118.45%.

Insider Activity

In related news, major shareholder Ai Investments Holdings Llc sold 384,548 shares of LyondellBasell Industries stock in a transaction on Monday, March 9th. The stock was sold at an average price of $68.13, for a total transaction of $26,199,255.24. Following the completion of the sale, the insider directly owned 5,270,918 shares of the company’s stock, valued at $359,107,643.34. The trade was a 6.80% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.14% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On LyondellBasell Industries

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Hosking Partners LLP increased its stake in LyondellBasell Industries by 33.3% in the third quarter. Hosking Partners LLP now owns 595,587 shares of the specialty chemicals company’s stock valued at $29,208,000 after purchasing an additional 148,673 shares in the last quarter. Capital World Investors boosted its position in shares of LyondellBasell Industries by 13.1% during the third quarter. Capital World Investors now owns 9,807,743 shares of the specialty chemicals company’s stock worth $480,972,000 after purchasing an additional 1,135,258 shares in the last quarter. Norges Bank acquired a new position in shares of LyondellBasell Industries in the 2nd quarter valued at $280,000,000. Wealthedge Investment Advisors LLC bought a new stake in shares of LyondellBasell Industries in the 2nd quarter valued at $2,192,000. Finally, TD Asset Management Inc raised its stake in LyondellBasell Industries by 12.8% during the 3rd quarter. TD Asset Management Inc now owns 286,067 shares of the specialty chemicals company’s stock worth $14,029,000 after buying an additional 32,401 shares during the period. 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.