LyondellBasell Industries (NYSE:LYB) Price Target Raised to $48.00 at Wells Fargo & Company

LyondellBasell Industries (NYSE:LYB) had its price target lifted by Wells Fargo & Company from $45.00 to $48.00 in a research note released on Monday,Benzinga reports. They currently have an equal weight rating on the specialty chemicals company’s stock.

A number of other analysts have also weighed in on the stock. Royal Bank Of Canada increased their price objective on shares of LyondellBasell Industries from $44.00 to $49.00 and gave the stock a “sector perform” rating in a research note on Friday, January 16th. UBS Group cut their price target on LyondellBasell Industries from $41.00 to $38.00 and set a “sell” rating on the stock in a research report on Tuesday, December 23rd. BMO Capital Markets reissued an “underperform” rating and issued a $36.00 price objective (down previously from $48.00) on shares of LyondellBasell Industries in a report on Monday, December 15th. Vertical Research downgraded LyondellBasell Industries from a “buy” rating to a “hold” rating and set a $48.00 target price on the stock. in a research note on Wednesday, January 7th. Finally, JPMorgan Chase & Co. reduced their price target on LyondellBasell Industries from $52.00 to $50.00 and set a “neutral” rating for the company in a research report on Monday, November 3rd. Two equities research analysts have rated the stock with a Buy rating, seventeen have issued a Hold rating and five have given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Reduce” and a consensus price target of $52.79.

LyondellBasell Industries Stock Up 2.3%

Shares of LYB stock opened at $50.15 on Monday. The company has a debt-to-equity ratio of 1.20, a quick ratio of 1.20 and a current ratio of 1.77. LyondellBasell Industries has a fifty-two week low of $41.58 and a fifty-two week high of $78.96. The firm has a market capitalization of $16.14 billion, a PE ratio of -21.52 and a beta of 0.70. The stock’s 50-day simple moving average is $46.59 and its 200-day simple moving average is $49.48.

LyondellBasell Industries (NYSE:LYB) last issued 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 firm had revenue of $7.09 billion during the quarter, compared to analysts’ expectations of $6.82 billion. During the same quarter in the prior year, the company earned $0.75 EPS. LyondellBasell Industries’s quarterly revenue was down 9.2% on a year-over-year basis. Equities analysts expect that LyondellBasell Industries will post 6.31 earnings per share for the current year.

LyondellBasell Industries Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 8th. Shareholders of record on Monday, December 1st were given a dividend of $1.37 per share. The ex-dividend date was Monday, December 1st. This represents a $5.48 dividend on an annualized basis and a yield of 10.9%. LyondellBasell Industries’s dividend payout ratio is currently -235.19%.

Insider Activity at LyondellBasell Industries

In other LyondellBasell Industries news, EVP Kimberly A. Foley bought 5,661 shares of LyondellBasell Industries stock in a transaction dated Wednesday, November 12th. The stock was acquired at an average cost of $43.56 per share, with a total value of $246,593.16. Following the purchase, the executive vice president directly owned 67,688 shares in the company, valued at $2,948,489.28. This represents a 9.13% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. 0.14% of the stock is owned by company insiders.

Institutional Investors Weigh In On LyondellBasell Industries

Several institutional investors and hedge funds have recently added to or reduced their stakes in LYB. Bank of Montreal Can increased its stake in LyondellBasell Industries by 2.4% during the second quarter. Bank of Montreal Can now owns 651,236 shares of the specialty chemicals company’s stock worth $37,681,000 after purchasing an additional 15,264 shares during the period. Rockefeller Capital Management L.P. grew its holdings in shares of LyondellBasell Industries by 62.2% in the second quarter. Rockefeller Capital Management L.P. now owns 42,321 shares of the specialty chemicals company’s stock valued at $2,583,000 after purchasing an additional 16,234 shares in the last quarter. Kingsview Wealth Management LLC increased its stake in LyondellBasell Industries by 375.1% during the 2nd quarter. Kingsview Wealth Management LLC now owns 18,007 shares of the specialty chemicals company’s stock worth $1,042,000 after buying an additional 14,217 shares during the period. Hosking Partners LLP lifted its holdings in LyondellBasell Industries by 33.3% during the 3rd quarter. Hosking Partners LLP now owns 595,587 shares of the specialty chemicals company’s stock worth $29,208,000 after buying an additional 148,673 shares in the last quarter. Finally, Norges Bank purchased a new position in LyondellBasell Industries in the 2nd quarter valued at approximately $280,000,000. Hedge funds and other 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.