JPMorgan Chase & Co. Cuts LyondellBasell Industries (NYSE:LYB) Price Target to $100.00

LyondellBasell Industries (NYSE:LYB) had its price target decreased by JPMorgan Chase & Co. from $110.00 to $100.00 in a research note issued to investors on Monday, Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the specialty chemicals company’s stock.

Several other research firms have also issued reports on LYB. Wells Fargo & Company lowered their target price on shares of LyondellBasell Industries from $117.00 to $110.00 and set an “overweight” rating for the company in a report on Monday, August 5th. UBS Group lowered their target price on shares of LyondellBasell Industries from $106.00 to $101.00 and set a “neutral” rating for the company in a report on Tuesday, July 9th. Royal Bank of Canada lowered their target price on shares of LyondellBasell Industries from $112.00 to $110.00 and set an “outperform” rating for the company in a report on Friday, October 11th. Mizuho lowered their target price on shares of LyondellBasell Industries from $101.00 to $97.00 and set a “neutral” rating for the company in a report on Monday. Finally, Evercore ISI upgraded shares of LyondellBasell Industries to a “hold” rating in a report on Monday, August 5th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $100.56.

LyondellBasell Industries Price Performance

LYB stock opened at $86.44 on Monday. LyondellBasell Industries has a 52 week low of $83.36 and a 52 week high of $107.02. The company has a quick ratio of 1.25, a current ratio of 2.13 and a debt-to-equity ratio of 0.81. The company has a fifty day simple moving average of $92.81 and a two-hundred day simple moving average of $95.71. The firm has a market capitalization of $28.07 billion, a P/E ratio of 13.16, a price-to-earnings-growth ratio of 1.63 and a beta of 1.08.

LyondellBasell Industries (NYSE:LYB) last released 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 the consensus estimate of $10.60 billion. During the same quarter last year, the business earned $2.46 EPS. LyondellBasell Industries’s revenue for the quarter was down 2.8% compared to the same quarter last year. Analysts anticipate that LyondellBasell Industries will post 7.38 earnings per share for the current fiscal year.

LyondellBasell Industries Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Monday, August 26th were given a dividend of $1.34 per share. This represents a $5.36 dividend on an annualized basis and a yield of 6.20%. The ex-dividend date was Monday, August 26th. LyondellBasell Industries’s dividend payout ratio (DPR) is 81.58%.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. Pacer Advisors Inc. increased its position in LyondellBasell Industries by 13.6% during the 2nd quarter. Pacer Advisors Inc. now owns 4,828,869 shares of the specialty chemicals company’s stock valued at $461,930,000 after purchasing an additional 579,300 shares during the period. Dimensional Fund Advisors LP increased its position in LyondellBasell Industries by 3.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 4,695,361 shares of the specialty chemicals company’s stock valued at $449,175,000 after purchasing an additional 170,464 shares during the period. Capital World Investors increased its position in LyondellBasell Industries by 28.9% during the 1st quarter. Capital World Investors now owns 2,675,701 shares of the specialty chemicals company’s stock valued at $273,671,000 after purchasing an additional 600,554 shares during the period. Envestnet Asset Management Inc. increased its position in LyondellBasell Industries by 0.6% during the 2nd quarter. Envestnet Asset Management Inc. now owns 1,065,083 shares of the specialty chemicals company’s stock valued at $101,886,000 after purchasing an additional 6,760 shares during the period. Finally, Raymond James & Associates increased its position in LyondellBasell Industries by 0.4% during the 3rd quarter. Raymond James & Associates now owns 912,538 shares of the specialty chemicals company’s stock valued at $87,512,000 after purchasing an additional 3,394 shares during the period. Hedge funds and other institutional investors own 71.20% of the company’s stock.

LyondellBasell Industries Company Profile

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.