LyondellBasell Industries (NYSE:LYB) Price Target Lowered to $72.00 at Morgan Stanley

LyondellBasell Industries (NYSE:LYB) had its target price decreased by Morgan Stanley from $77.00 to $72.00 in a report issued on Monday morning,Benzinga reports. Morgan Stanley currently has an overweight rating on the specialty chemicals company’s stock.

A number of other research firms have also weighed in on LYB. Bank of America lowered their price objective on shares of LyondellBasell Industries from $68.00 to $48.00 and set an “underperform” rating on the stock in a research report on Tuesday, June 30th. Wall Street Zen downgraded shares of LyondellBasell Industries from a “buy” rating to a “hold” rating in a research report on Monday, July 13th. Wolfe Research lifted their target price on shares of LyondellBasell Industries from $38.00 to $62.00 and gave the company an “underperform” rating in a report on Tuesday, April 14th. Zacks Research lowered shares of LyondellBasell Industries from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 1st. Finally, Evercore raised their price objective on shares of LyondellBasell Industries from $70.00 to $73.00 in a research report on Thursday, May 14th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, eight have given a Hold rating and four have issued a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $71.94.

LyondellBasell Industries Stock Up 2.7%

LYB opened at $60.78 on Monday. LyondellBasell Industries has a 52 week low of $41.58 and a 52 week high of $83.94. The business has a 50 day moving average price of $62.66 and a two-hundred day moving average price of $62.93. The company has a quick ratio of 1.03, a current ratio of 1.54 and a debt-to-equity ratio of 1.12. The company has a market cap of $19.62 billion, a PE ratio of -24.41, a P/E/G ratio of 0.18 and a beta of 0.32.

LyondellBasell Industries (NYSE:LYB) last announced its earnings results on Friday, May 1st. The specialty chemicals company reported $0.49 earnings per share for the quarter, beating the consensus estimate of $0.31 by $0.18. The company had revenue of $7.20 billion for the quarter, compared to the consensus estimate of $7.53 billion. LyondellBasell Industries had a positive return on equity of 5.68% and a negative net margin of 2.68%.The company’s revenue was down 6.3% on a year-over-year basis. During the same period last year, the business posted $0.33 EPS. As a group, research analysts anticipate that LyondellBasell Industries will post 9.07 EPS for the current year.

LyondellBasell Industries Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 8th. Shareholders of record on Monday, June 1st were given a dividend of $0.69 per share. This represents a $2.76 annualized dividend and a yield of 4.5%. The ex-dividend date was Monday, June 1st. LyondellBasell Industries’s dividend payout ratio is presently -110.84%.

Institutional Investors Weigh In On LyondellBasell Industries

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Clearstead Advisors LLC increased its stake in LyondellBasell Industries by 140.3% in the 4th quarter. Clearstead Advisors LLC now owns 668 shares of the specialty chemicals company’s stock valued at $29,000 after purchasing an additional 390 shares in the last quarter. ORG Partners LLC boosted its position in LyondellBasell Industries by 960.0% during the fourth quarter. ORG Partners LLC now owns 689 shares of the specialty chemicals company’s stock worth $30,000 after purchasing an additional 624 shares in the last quarter. Quarry LP acquired a new stake in LyondellBasell Industries in the third quarter valued at $31,000. Key Capital Management INC acquired a new stake in LyondellBasell Industries in the fourth quarter valued at $34,000. Finally, Fideuram Asset Management Ireland dac purchased a new position in shares of LyondellBasell Industries in the fourth quarter valued at $34,000. 71.20% of the stock is currently 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.