LyondellBasell Industries (LYB) Downgraded by Citigroup to Neutral

Citigroup cut shares of LyondellBasell Industries (NYSE:LYB) from a buy rating to a neutral rating in a research report report published on Monday morning, Marketbeat Ratings reports. The brokerage currently has $109.00 target price on the specialty chemicals company’s stock, down from their previous target price of $125.00.

Other equities research analysts also recently issued research reports about the stock. Zacks Investment Research downgraded shares of LyondellBasell Industries from a buy rating to a hold rating in a research note on Wednesday, July 18th. Barclays reaffirmed a buy rating and issued a $135.00 target price on shares of LyondellBasell Industries in a research note on Sunday, May 20th. Cowen upped their target price on shares of LyondellBasell Industries from $110.00 to $113.00 and gave the company a market perform rating in a research note on Friday, August 10th. BMO Capital Markets upped their target price on shares of LyondellBasell Industries from $111.00 to $112.00 and gave the company a market perform rating in a research note on Tuesday, August 7th. Finally, Jefferies Financial Group raised shares of LyondellBasell Industries from a hold rating to a buy rating in a research note on Thursday, May 31st. Twelve research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. LyondellBasell Industries currently has a consensus rating of Hold and a consensus target price of $116.71.

Shares of NYSE:LYB opened at $103.46 on Monday. LyondellBasell Industries has a 52 week low of $95.06 and a 52 week high of $121.95. The company has a quick ratio of 1.51, a current ratio of 2.27 and a debt-to-equity ratio of 0.71. The company has a market capitalization of $41.30 billion, a price-to-earnings ratio of 10.12, a PEG ratio of 0.95 and a beta of 1.13.

LyondellBasell Industries (NYSE:LYB) last issued its earnings results on Friday, August 3rd. The specialty chemicals company reported $3.34 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.90 by $0.44. LyondellBasell Industries had a net margin of 15.51% and a return on equity of 53.77%. The firm had revenue of $10.21 billion during the quarter, compared to the consensus estimate of $9.11 billion. research analysts anticipate that LyondellBasell Industries will post 11.79 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 12th. Stockholders of record on Wednesday, September 5th were issued a $1.00 dividend. This represents a $4.00 annualized dividend and a dividend yield of 3.87%. The ex-dividend date was Tuesday, September 4th. LyondellBasell Industries’s dividend payout ratio (DPR) is presently 39.10%.

Several institutional investors have recently added to or reduced their stakes in the company. ETRADE Capital Management LLC increased its position in LyondellBasell Industries by 11.4% during the 1st quarter. ETRADE Capital Management LLC now owns 4,706 shares of the specialty chemicals company’s stock valued at $497,000 after buying an additional 480 shares in the last quarter. Cambridge Investment Research Advisors Inc. increased its holdings in shares of LyondellBasell Industries by 10.5% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 34,350 shares of the specialty chemicals company’s stock valued at $3,630,000 after purchasing an additional 3,260 shares during the period. Private Advisor Group LLC increased its holdings in shares of LyondellBasell Industries by 40.3% in the first quarter. Private Advisor Group LLC now owns 8,222 shares of the specialty chemicals company’s stock valued at $869,000 after purchasing an additional 2,361 shares during the period. Glen Harbor Capital Management LLC increased its holdings in shares of LyondellBasell Industries by 7.7% in the first quarter. Glen Harbor Capital Management LLC now owns 129,812 shares of the specialty chemicals company’s stock valued at $13,718,000 after purchasing an additional 9,282 shares during the period. Finally, BlackRock Inc. increased its holdings in shares of LyondellBasell Industries by 9.7% in the first quarter. BlackRock Inc. now owns 22,607,029 shares of the specialty chemicals company’s stock valued at $2,389,109,000 after purchasing an additional 2,002,494 shares during the period. Institutional investors own 72.68% of the company’s stock.

LyondellBasell Industries Company Profile

LyondellBasell Industries N.V. operates as a chemical company worldwide. The company operates in five segments: Olefins and Polyolefins?Americas; Olefins and Polyolefins?Europe, Asia, International; Intermediates and Derivatives; Refining; and Technology. It produces and markets olefins and co-products; polyethylene products, which consist of high density polyethylene, low density polyethylene, and linear low density polyethylene; and polypropylene (PP) products, such as PP homopolymers, copolymers, and compounds.

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Analyst Recommendations for LyondellBasell Industries (NYSE:LYB)

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