UBS Group Trims LyondellBasell Industries (NYSE:LYB) Target Price to $83.00

LyondellBasell Industries (NYSE:LYBGet Rating) had its price target cut by UBS Group from $96.00 to $83.00 in a research report sent to investors on Monday morning, The Fly reports. They currently have a neutral rating on the specialty chemicals company’s stock.

A number of other equities research analysts also recently weighed in on LYB. Mizuho dropped their price target on shares of LyondellBasell Industries from $132.00 to $113.00 and set a buy rating for the company in a research note on Wednesday, August 3rd. Alembic Global Advisors cut shares of LyondellBasell Industries from an overweight rating to a neutral rating and decreased their price objective for the company from $120.00 to $115.00 in a report on Tuesday, May 31st. JPMorgan Chase & Co. cut shares of LyondellBasell Industries from an overweight rating to a neutral rating and decreased their price objective for the company from $115.00 to $80.00 in a report on Friday, September 2nd. KeyCorp cut shares of LyondellBasell Industries from a sector weight rating to an underweight rating and set a $73.00 price objective for the company. in a report on Monday, August 29th. Finally, StockNews.com cut shares of LyondellBasell Industries from a buy rating to a hold rating in a report on Friday, September 2nd. Three equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, LyondellBasell Industries has a consensus rating of Hold and a consensus price target of $101.45.

LyondellBasell Industries Trading Down 0.8 %

LYB opened at $75.11 on Monday. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.68 and a quick ratio of 1.01. The company has a market cap of $24.50 billion, a price-to-earnings ratio of 4.58, a price-to-earnings-growth ratio of 0.62 and a beta of 1.27. The firm has a 50 day simple moving average of $85.35 and a 200 day simple moving average of $96.26. LyondellBasell Industries has a fifty-two week low of $75.08 and a fifty-two week high of $117.22.

LyondellBasell Industries (NYSE:LYBGet Rating) last posted its quarterly earnings results on Friday, July 29th. The specialty chemicals company reported $5.19 earnings per share for the quarter, topping analysts’ consensus estimates of $4.97 by $0.22. The business had revenue of $14.84 billion during the quarter, compared to the consensus estimate of $13.70 billion. LyondellBasell Industries had a net margin of 10.19% and a return on equity of 49.41%. LyondellBasell Industries’s revenue for the quarter was up 28.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $6.13 earnings per share. On average, sell-side analysts anticipate that LyondellBasell Industries will post 15.65 earnings per share for the current year.

LyondellBasell Industries Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 6th. Stockholders of record on Monday, August 29th were given a $1.19 dividend. This represents a $4.76 dividend on an annualized basis and a dividend yield of 6.34%. The ex-dividend date of this dividend was Friday, August 26th. This is a positive change from LyondellBasell Industries’s previous quarterly dividend of $1.13. LyondellBasell Industries’s payout ratio is currently 29.01%.

Institutional Trading of LyondellBasell Industries

A number of institutional investors have recently made changes to their positions in the business. Federated Hermes Inc. lifted its position in shares of LyondellBasell Industries by 114.8% in the second quarter. Federated Hermes Inc. now owns 53,498 shares of the specialty chemicals company’s stock worth $4,680,000 after purchasing an additional 28,591 shares in the last quarter. Brown Advisory Inc. raised its position in LyondellBasell Industries by 67.8% during the second quarter. Brown Advisory Inc. now owns 3,800 shares of the specialty chemicals company’s stock worth $332,000 after acquiring an additional 1,536 shares in the last quarter. Hussman Strategic Advisors Inc. raised its position in LyondellBasell Industries by 364.1% during the second quarter. Hussman Strategic Advisors Inc. now owns 72,400 shares of the specialty chemicals company’s stock worth $6,332,000 after acquiring an additional 56,800 shares in the last quarter. Raleigh Capital Management Inc. raised its position in LyondellBasell Industries by 10.1% during the second quarter. Raleigh Capital Management Inc. now owns 3,577 shares of the specialty chemicals company’s stock worth $312,000 after acquiring an additional 329 shares in the last quarter. Finally, BDO Wealth Advisors LLC raised its position in LyondellBasell Industries by 3.5% during the second quarter. BDO Wealth Advisors LLC now owns 5,391 shares of the specialty chemicals company’s stock worth $472,000 after acquiring an additional 180 shares in the last quarter. Institutional investors own 70.07% of the company’s stock.

About LyondellBasell Industries

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LyondellBasell Industries N.V. operates as a chemical company in the United States, Germany, Mexico, Italy, Poland, France, Japan, China, the Netherlands, and internationally. The company operates in six segments: Olefins and PolyolefinsAmericas; Olefins and PolyolefinsEurope, Asia, International; Intermediates and Derivatives; Advanced Polymer Solutions; Refining; and Technology.

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