Deutsche Bank Aktiengesellschaft Cuts LyondellBasell Industries (NYSE:LYB) Price Target to $94.00

LyondellBasell Industries (NYSE:LYB) had its price target reduced by Deutsche Bank Aktiengesellschaft from $100.00 to $94.00 in a research note issued to investors on Monday, Benzinga reports. Deutsche Bank Aktiengesellschaft currently has a hold rating on the specialty chemicals company’s stock.

Several other analysts have also recently commented on the stock. Mizuho decreased their price objective on shares of LyondellBasell Industries from $101.00 to $97.00 and set a “neutral” rating for the company in a research note on Monday. Royal Bank of Canada decreased their price objective on shares of LyondellBasell Industries from $112.00 to $110.00 and set an “outperform” rating for the company in a research note on Friday, October 11th. JPMorgan Chase & Co. decreased their target price on shares of LyondellBasell Industries from $110.00 to $100.00 and set an “overweight” rating for the company in a research note on Monday. Barclays decreased their target price on shares of LyondellBasell Industries from $99.00 to $95.00 and set an “equal weight” rating for the company in a research note on Monday. Finally, UBS Group decreased their target price on shares of LyondellBasell Industries from $106.00 to $101.00 and set a “neutral” rating for the company in a research note on Tuesday, July 9th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $100.56.

LyondellBasell Industries Stock Performance

Shares of NYSE LYB opened at $86.44 on Monday. The company has a current ratio of 2.13, a quick ratio of 1.25 and a debt-to-equity ratio of 0.81. LyondellBasell Industries has a 12 month low of $83.36 and a 12 month high of $107.02. The company has a 50 day simple moving average of $92.81 and a two-hundred day simple moving average of $95.71. The stock has a market cap of $28.07 billion, a price-to-earnings ratio of 13.16, a PEG ratio of 1.63 and a beta of 1.08.

LyondellBasell Industries (NYSE:LYB) last announced its quarterly earnings data on Friday, November 1st. The specialty chemicals company reported $1.88 EPS for the quarter, missing the consensus estimate of $1.98 by ($0.10). LyondellBasell Industries had a net margin of 5.29% and a return on equity of 17.05%. The business had revenue of $10.33 billion for the quarter, compared to analyst estimates of $10.60 billion. During the same quarter in the previous year, the firm posted $2.46 earnings per share. The business’s revenue was down 2.8% on a year-over-year basis. As a group, analysts predict that LyondellBasell Industries will post 7.38 earnings per share for the current year.

LyondellBasell Industries Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Monday, August 26th were issued a $1.34 dividend. This represents a $5.36 annualized dividend and a yield of 6.20%. The ex-dividend date of this dividend was Monday, August 26th. LyondellBasell Industries’s payout ratio is presently 81.58%.

Institutional Investors Weigh In On LyondellBasell Industries

Several institutional investors and hedge funds have recently added to or reduced their stakes in LYB. Norden Group LLC purchased a new stake in shares of LyondellBasell Industries during the first quarter worth $228,000. Private Advisor Group LLC grew its holdings in shares of LyondellBasell Industries by 12.0% during the first quarter. Private Advisor Group LLC now owns 11,711 shares of the specialty chemicals company’s stock worth $1,198,000 after buying an additional 1,251 shares in the last quarter. Nordea Investment Management AB grew its holdings in shares of LyondellBasell Industries by 2.9% during the first quarter. Nordea Investment Management AB now owns 21,515 shares of the specialty chemicals company’s stock worth $2,208,000 after buying an additional 601 shares in the last quarter. Daiwa Securities Group Inc. grew its holdings in shares of LyondellBasell Industries by 9.7% during the first quarter. Daiwa Securities Group Inc. now owns 25,531 shares of the specialty chemicals company’s stock worth $2,611,000 after buying an additional 2,259 shares in the last quarter. Finally, Whittier Trust Co. grew its holdings in shares of LyondellBasell Industries by 5.8% during the first quarter. Whittier Trust Co. now owns 5,520 shares of the specialty chemicals company’s stock worth $565,000 after buying an additional 304 shares in the last quarter. Hedge funds and other institutional investors own 71.20% of the company’s stock.

About LyondellBasell Industries

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.