LyondellBasell Industries (NYSE:LYB) Price Target Raised to $38.00 at BMO Capital Markets

LyondellBasell Industries (NYSE:LYB) had its target price upped by BMO Capital Markets from $36.00 to $38.00 in a research note released on Friday morning,MarketScreener reports.

Other analysts have also recently issued reports about the company. KeyCorp reiterated a “sector weight” rating on shares of LyondellBasell Industries in a report on Monday, February 2nd. UBS Group reduced their price objective on shares of LyondellBasell Industries from $41.00 to $38.00 and set a “sell” rating on the stock in a research note on Tuesday, December 23rd. Wolfe Research decreased their price objective on shares of LyondellBasell Industries from $39.00 to $38.00 and set an “underperform” rating for the company in a research report on Monday, February 2nd. Evercore dropped their target price on shares of LyondellBasell Industries from $65.00 to $57.00 and set an “in-line” rating on the stock in a report on Tuesday, November 11th. Finally, Jefferies Financial Group decreased their price target on LyondellBasell Industries from $50.00 to $46.00 and set a “hold” rating for the company in a report on Monday, December 8th. One equities research analyst has rated the stock with a Buy rating, seventeen have issued a Hold rating and five have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, LyondellBasell Industries presently has a consensus rating of “Reduce” and a consensus target price of $51.12.

LyondellBasell Industries Trading Up 2.5%

Shares of LyondellBasell Industries stock traded up $1.39 during trading on Friday, hitting $56.72. The company’s stock had a trading volume of 12,091,124 shares, compared to its average volume of 6,510,702. The stock has a market cap of $18.26 billion, a price-to-earnings ratio of -24.34, a price-to-earnings-growth ratio of 0.38 and a beta of 0.70. The company has a debt-to-equity ratio of 1.20, a current ratio of 1.77 and a quick ratio of 1.20. LyondellBasell Industries has a 52 week low of $41.58 and a 52 week high of $78.41. The stock has a 50-day moving average price of $49.55 and a two-hundred day moving average price of $49.21.

LyondellBasell Industries (NYSE:LYB) last released its quarterly 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). The company had revenue of $7.09 billion during the quarter, compared to the consensus estimate of $6.82 billion. LyondellBasell Industries had a negative net margin of 2.46% and a positive return on equity of 4.94%. The company’s quarterly revenue was down 9.2% on a year-over-year basis. During the same quarter last year, the firm posted $0.75 EPS. Equities research analysts anticipate that LyondellBasell Industries will post 6.31 EPS for the current fiscal year.

LyondellBasell Industries Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 9th. Stockholders of record on Monday, March 2nd will be paid a $0.69 dividend. The ex-dividend date is Monday, March 2nd. This represents a $2.76 annualized dividend and a dividend yield of 4.9%. LyondellBasell Industries’s dividend payout ratio (DPR) is currently -235.19%.

Institutional Investors Weigh In On LyondellBasell Industries

A number of hedge funds have recently added to or reduced their stakes in LYB. New York Life Investment Management LLC increased its holdings in shares of LyondellBasell Industries by 0.5% during the second quarter. New York Life Investment Management LLC now owns 38,521 shares of the specialty chemicals company’s stock valued at $2,229,000 after acquiring an additional 193 shares in the last quarter. State of Michigan Retirement System grew its position in LyondellBasell Industries by 0.3% in the 2nd quarter. State of Michigan Retirement System now owns 78,165 shares of the specialty chemicals company’s stock valued at $4,523,000 after purchasing an additional 200 shares during the period. Cooper Financial Group increased its stake in LyondellBasell Industries by 4.3% during the 3rd 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 in the last quarter. Investment Research Partners LLC raised its holdings in 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 worth $221,000 after buying an additional 214 shares during the last quarter. Finally, Capital Investment Advisory Services LLC lifted its stake in shares of LyondellBasell Industries by 2.5% in 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 buying an additional 226 shares in the last quarter. Institutional investors and hedge funds 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.