LyondellBasell Industries (NYSE:LYB) Receives “Underperform” Rating from Bank of America

Bank of America reaffirmed their underperform rating on shares of LyondellBasell Industries (NYSE:LYB) in a research note released on Monday morning, MarketBeat.com reports. The brokerage currently has a $55.00 price target on the specialty chemicals company’s stock.

Several other analysts have also weighed in on the company. Citigroup upgraded LyondellBasell Industries from a “neutral” rating to a “buy” rating and upped their price objective for the company from $49.00 to $76.00 in a report on Thursday, March 12th. Fermium Researc upgraded LyondellBasell Industries from a “hold” rating to a “strong-buy” rating in a report on Monday, March 9th. Jefferies Financial Group upped their price objective on LyondellBasell Industries from $51.00 to $70.00 and gave the company a “hold” rating in a report on Tuesday, March 10th. UBS Group upped their price objective on LyondellBasell Industries from $73.00 to $79.00 and gave the company a “neutral” rating in a report on Thursday, March 26th. Finally, Wall Street Zen upgraded LyondellBasell Industries from a “sell” rating to a “hold” rating in a report on Saturday, March 21st. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, thirteen have issued a Hold rating and four have issued a Sell rating to the company. According to MarketBeat.com, LyondellBasell Industries has an average rating of “Hold” and a consensus target price of $67.39.

LyondellBasell Industries Trading Down 1.2%

NYSE:LYB opened at $78.62 on Monday. LyondellBasell Industries has a 1 year low of $41.58 and a 1 year high of $83.94. The stock has a market cap of $25.33 billion, a price-to-earnings ratio of -33.74, a PEG ratio of 0.46 and a beta of 0.40. The business has a fifty day moving average of $64.18 and a 200-day moving average of $52.66. 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 (NYSE:LYB) last released its quarterly earnings results on Saturday, February 21st. The specialty chemicals company reported ($0.26) earnings per share (EPS) for the quarter. 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. Equities analysts predict that LyondellBasell Industries 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. Stockholders of record on Monday, March 2nd were issued a dividend of $0.69 per share. This represents a $2.76 annualized dividend and a dividend yield of 3.5%. The ex-dividend date of this dividend was Monday, March 2nd. LyondellBasell Industries’s dividend payout ratio is currently -118.45%.

Insider Activity at LyondellBasell Industries

In other news, major shareholder Ai Investments Holdings Llc sold 384,548 shares of the company’s 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. This represents a 6.80% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.14% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On LyondellBasell Industries

Several hedge funds have recently modified their holdings of the stock. Cooper Financial Group lifted its holdings in shares of LyondellBasell Industries by 4.3% during the third quarter. Cooper Financial Group now owns 5,146 shares of the specialty chemicals company’s stock valued at $252,000 after purchasing an additional 211 shares during the last quarter. Investment Research Partners LLC lifted its holdings in shares of LyondellBasell Industries by 4.4% during the fourth quarter. Investment Research Partners LLC now owns 5,100 shares of the specialty chemicals company’s stock valued at $221,000 after purchasing an additional 214 shares during the last quarter. Capital Investment Advisory Services LLC lifted its holdings in shares of LyondellBasell Industries by 2.5% during the third quarter. Capital Investment Advisory Services LLC now owns 9,345 shares of the specialty chemicals company’s stock valued at $458,000 after purchasing an additional 226 shares during the last quarter. U.S. Capital Wealth Advisors LLC lifted its holdings in shares of LyondellBasell Industries by 1.4% during the third quarter. U.S. Capital Wealth Advisors LLC now owns 18,020 shares of the specialty chemicals company’s stock valued at $884,000 after purchasing an additional 241 shares during the last quarter. Finally, Rothschild Investment LLC lifted its holdings in shares of LyondellBasell Industries by 3.5% during the fourth quarter. Rothschild Investment LLC now owns 8,025 shares of the specialty chemicals company’s stock valued at $347,000 after purchasing an additional 272 shares during the last quarter. 71.20% of the stock is owned by hedge funds and other institutional investors.

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.