LyondellBasell Industries (NYSE:LYB) Rating Lowered to Hold at StockNews.com

StockNews.com lowered shares of LyondellBasell Industries (NYSE:LYBGet Rating) from a buy rating to a hold rating in a research report sent to investors on Wednesday morning.

A number of other analysts also recently issued reports on the company. BMO Capital Markets raised their price objective on LyondellBasell Industries from $108.00 to $128.00 in a research report on Thursday, May 5th. Deutsche Bank Aktiengesellschaft lifted their target price on LyondellBasell Industries from $104.00 to $120.00 in a research report on Thursday, May 5th. Barclays dropped their target price on LyondellBasell Industries from $130.00 to $110.00 and set an overweight rating for the company in a research report on Monday, July 11th. Piper Sandler dropped their target price on LyondellBasell Industries from $115.00 to $98.00 in a research report on Monday, July 25th. Finally, Jefferies Financial Group dropped their target price on LyondellBasell Industries from $135.00 to $117.00 in a research report on Thursday, June 16th. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating and seven have given a buy rating to the stock. According to MarketBeat, LyondellBasell Industries presently has an average rating of Hold and a consensus price target of $106.26.

LyondellBasell Industries Stock Up 0.1 %

Shares of LYB opened at $85.61 on Wednesday. The stock has a fifty day simple moving average of $92.68 and a two-hundred day simple moving average of $99.52. The company has a quick ratio of 1.01, a current ratio of 1.68 and a debt-to-equity ratio of 0.90. The company has a market capitalization of $27.93 billion, a PE ratio of 5.22, a price-to-earnings-growth ratio of 0.62 and a beta of 1.27. LyondellBasell Industries has a 52-week low of $82.14 and a 52-week high of $117.22.

LyondellBasell Industries (NYSE:LYBGet Rating) last issued its quarterly earnings data on Friday, July 29th. The specialty chemicals company reported $5.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.91 by $0.28. The firm had revenue of $14.84 billion during the quarter, compared to the consensus estimate of $13.70 billion. LyondellBasell Industries had a return on equity of 49.41% and a net margin of 10.19%. The company’s quarterly revenue was up 28.3% on a year-over-year basis. During the same period last year, the company earned $6.13 EPS. As a group, equities analysts forecast that LyondellBasell Industries will post 17.11 EPS for the current year.

LyondellBasell Industries Dividend Announcement

The firm also recently announced a special dividend, which was paid on Monday, June 13th. Investors of record on Monday, June 6th were paid a dividend of $5.20 per share. This represents a yield of 4.2%. The ex-dividend date was Friday, June 3rd. LyondellBasell Industries’s payout ratio is 29.01%.

Insider Buying and Selling

In related news, CFO Michael C. Mcmurray sold 33,880 shares of the business’s stock in a transaction that occurred on Wednesday, June 8th. The stock was sold at an average price of $110.94, for a total transaction of $3,758,647.20. Following the completion of the sale, the chief financial officer now owns 39,612 shares in the company, valued at $4,394,555.28. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other LyondellBasell Industries news, Director Jagjeet S. Bindra sold 2,640 shares of the business’s stock in a transaction that occurred on Tuesday, June 7th. The stock was sold at an average price of $111.44, for a total value of $294,201.60. Following the completion of the sale, the director now owns 7,020 shares in the company, valued at $782,308.80. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CFO Michael C. Mcmurray sold 33,880 shares of the business’s stock in a transaction that occurred on Wednesday, June 8th. The shares were sold at an average price of $110.94, for a total value of $3,758,647.20. Following the completion of the sale, the chief financial officer now owns 39,612 shares of the company’s stock, valued at approximately $4,394,555.28. The disclosure for this sale can be found here. 0.18% of the stock is owned by company insiders.

Institutional Investors Weigh In On LyondellBasell Industries

A number of institutional investors and hedge funds have recently added to or reduced their stakes in LYB. Charles Schwab Investment Management Inc. lifted its stake in LyondellBasell Industries by 205.3% in the first quarter. Charles Schwab Investment Management Inc. now owns 4,454,483 shares of the specialty chemicals company’s stock valued at $458,010,000 after buying an additional 2,995,335 shares during the last quarter. Norges Bank purchased a new stake in LyondellBasell Industries in the fourth quarter valued at approximately $223,744,000. Sumitomo Mitsui Trust Holdings Inc. purchased a new stake in LyondellBasell Industries in the first quarter valued at approximately $86,336,000. Renaissance Technologies LLC lifted its stake in LyondellBasell Industries by 162.8% in the fourth quarter. Renaissance Technologies LLC now owns 1,270,800 shares of the specialty chemicals company’s stock valued at $117,206,000 after buying an additional 787,300 shares during the last quarter. Finally, Citigroup Inc. lifted its stake in LyondellBasell Industries by 45.9% in the fourth quarter. Citigroup Inc. now owns 2,473,340 shares of the specialty chemicals company’s stock valued at $228,116,000 after buying an additional 777,787 shares during the last quarter. Hedge funds and other institutional investors own 69.64% of the company’s stock.

About LyondellBasell Industries

(Get Rating)

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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Analyst Recommendations for LyondellBasell Industries (NYSE:LYB)

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