LyondellBasell Industries (NYSE:LYB) Reaches New 1-Year High Following Analyst Upgrade

LyondellBasell Industries N.V. (NYSE:LYB) hit a new 52-week high during mid-day trading on Tuesday after Wells Fargo & Company raised their price target on the stock from $70.00 to $87.00. Wells Fargo & Company currently has an equal weight rating on the stock. LyondellBasell Industries traded as high as $83.86 and last traded at $82.4840, with a volume of 8203950 shares changing hands. The stock had previously closed at $80.45.

Other research analysts have also recently issued reports about the stock. Jefferies Financial Group boosted their price target on shares of LyondellBasell Industries from $51.00 to $70.00 and gave the stock a “hold” rating in a report on Tuesday, March 10th. The Goldman Sachs Group reissued a “sell” rating on shares of LyondellBasell Industries in a research report on Monday, February 2nd. Wall Street Zen upgraded LyondellBasell Industries from a “sell” rating to a “hold” rating in a research note on Saturday, March 21st. Zacks Research raised LyondellBasell Industries from a “strong sell” rating to a “hold” rating in a research report on Tuesday, December 2nd. Finally, Citigroup upgraded LyondellBasell Industries from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $49.00 to $76.00 in a report on Thursday, March 12th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, fourteen have given a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat.com, LyondellBasell Industries currently has an average rating of “Hold” and a consensus price target of $66.56.

Insider Activity at LyondellBasell Industries

In other news, major shareholder Ai Investments Holdings Llc sold 384,548 shares of the 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 transaction, the insider owned 5,270,918 shares in the company, valued at approximately $359,107,643.34. This represents a 6.80% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.14% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On LyondellBasell Industries

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Parvin Asset Management LLC bought a new stake in shares of LyondellBasell Industries in the second quarter valued at approximately $26,000. Capital A Wealth Management LLC boosted its holdings in LyondellBasell Industries by 6,314.3% in the 2nd quarter. Capital A Wealth Management LLC now owns 449 shares of the specialty chemicals company’s stock worth $26,000 after buying an additional 442 shares during the period. Stance Capital LLC purchased a new position in LyondellBasell Industries in the 3rd quarter valued at approximately $27,000. Quent Capital LLC purchased a new position in LyondellBasell Industries in the 3rd quarter valued at approximately $29,000. Finally, Clearstead Advisors LLC raised its holdings in LyondellBasell Industries by 140.3% during the 4th quarter. Clearstead Advisors LLC now owns 668 shares of the specialty chemicals company’s stock valued at $29,000 after acquiring an additional 390 shares during the period. Institutional investors own 71.20% of the company’s stock.

LyondellBasell Industries Trading Up 2.5%

The stock has a market cap of $26.57 billion, a PE ratio of -35.40, a P/E/G ratio of 0.46 and a beta of 0.64. The firm has a 50-day simple moving average of $61.36 and a 200-day simple moving average of $51.75. The company has a quick ratio of 1.20, a current ratio of 1.77 and a debt-to-equity ratio of 1.20.

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

LyondellBasell Industries Cuts Dividend

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

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.