LyondellBasell Industries (NYSE:LYB) Price Target Raised to $77.00 at Morgan Stanley

LyondellBasell Industries (NYSE:LYB) had its price objective lifted by Morgan Stanley from $52.00 to $77.00 in a research note issued to investors on Tuesday morning,Benzinga reports. They currently have an overweight rating on the specialty chemicals company’s stock.

A number of other research firms also recently weighed in on LYB. Mizuho raised their price target on shares of LyondellBasell Industries from $62.00 to $74.00 and gave the stock a “neutral” rating in a research report on Monday, March 23rd. Wells Fargo & Company increased their price objective on shares of LyondellBasell Industries from $70.00 to $87.00 and gave the company an “equal weight” rating in a research note on Monday, March 30th. Citigroup raised their price objective on shares of LyondellBasell Industries from $76.00 to $90.00 and gave the stock a “buy” rating in a report on Wednesday, April 8th. Jefferies Financial Group boosted their target price on shares of LyondellBasell Industries from $70.00 to $75.00 and gave the stock a “hold” rating in a research report on Thursday, April 16th. Finally, Wolfe Research upped their target price on shares of LyondellBasell Industries from $38.00 to $62.00 and gave the company an “underperform” rating in a research note on Tuesday, April 14th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, twelve have given a Hold rating and four have given a Sell rating to the stock. According to data from MarketBeat.com, LyondellBasell Industries presently has a consensus rating of “Hold” and an average target price of $71.37.

LyondellBasell Industries Trading Up 4.1%

NYSE:LYB opened at $71.40 on Tuesday. The stock has a market cap of $23.05 billion, a price-to-earnings ratio of -30.64, a price-to-earnings-growth ratio of 0.28 and a beta of 0.40. LyondellBasell Industries has a one year low of $41.58 and a one year high of $83.94. 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 business’s 50-day simple moving average is $68.61 and its 200 day simple moving average is $54.46.

LyondellBasell Industries (NYSE:LYB) last issued its quarterly earnings data 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 business had revenue of $7.09 billion for the quarter. As a group, sell-side analysts predict that LyondellBasell Industries will post 4.62 earnings per share for the current fiscal year.

LyondellBasell Industries Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 9th. Shareholders of record on Monday, March 2nd were issued a $0.69 dividend. This represents a $2.76 dividend on an annualized basis and a yield of 3.9%. The ex-dividend date of this dividend was Monday, March 2nd. LyondellBasell Industries’s payout ratio is currently -118.45%.

Insiders Place Their Bets

In other LyondellBasell Industries news, major shareholder Ai Investments Holdings Llc sold 384,548 shares of the business’s stock in a transaction on Monday, March 9th. The shares were 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 owned 5,270,918 shares in the company, valued at $359,107,643.34. The trade was a 6.80% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.14% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Hosking Partners LLP lifted its holdings in LyondellBasell Industries by 33.3% in the 3rd quarter. Hosking Partners LLP now owns 595,587 shares of the specialty chemicals company’s stock valued at $29,208,000 after acquiring an additional 148,673 shares during the last quarter. Capital World Investors grew its stake in shares of LyondellBasell Industries by 13.1% in the 3rd 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 during the last quarter. Bruce & Co. Inc. grew its stake in shares of LyondellBasell Industries by 50.0% in the 3rd quarter. Bruce & Co. Inc. now owns 60,000 shares of the specialty chemicals company’s stock worth $2,942,000 after purchasing an additional 20,000 shares during the last quarter. TD Asset Management Inc raised its holdings in shares of LyondellBasell Industries by 12.8% in the 3rd quarter. TD Asset Management Inc now owns 286,067 shares of the specialty chemicals company’s stock worth $14,029,000 after purchasing an additional 32,401 shares in the last quarter. Finally, Barclays PLC lifted its stake in LyondellBasell Industries by 3.5% during the third quarter. Barclays PLC now owns 1,006,356 shares of the specialty chemicals company’s stock valued at $49,352,000 after purchasing an additional 33,873 shares during the last quarter. 71.20% of the stock is owned by institutional investors and hedge funds.

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.