LyondellBasell Industries (NYSE:LYB) Receives $94.33 Average Target Price from Brokerages

Shares of LyondellBasell Industries (NYSE:LYB) have been assigned an average rating of “Hold” from the fourteen ratings firms that are presently covering the company, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, eight have issued a hold recommendation and four have issued a buy recommendation on the company. The average twelve-month target price among analysts that have covered the stock in the last year is $94.33.

Several equities analysts have commented on LYB shares. StockNews.com cut shares of LyondellBasell Industries from a “buy” rating to a “hold” rating in a research note on Wednesday, January 8th. Wells Fargo & Company dropped their price target on shares of LyondellBasell Industries from $105.00 to $95.00 and set an “overweight” rating on the stock in a research report on Tuesday, December 10th. Mizuho dropped their target price on shares of LyondellBasell Industries from $97.00 to $85.00 and set a “neutral” rating on the stock in a report on Monday, December 9th. Royal Bank of Canada reduced their target price on shares of LyondellBasell Industries from $104.00 to $92.00 and set an “outperform” rating for the company in a report on Thursday, December 19th. Finally, Morgan Stanley cut their price objective on LyondellBasell Industries from $110.00 to $90.00 and set an “overweight” rating for the company in a research report on Monday, January 13th.

Insider Activity

In related news, Director Robin W.T. Buchanan bought 5,000 shares of LyondellBasell Industries stock in a transaction that occurred on Friday, December 13th. The stock was purchased at an average cost of $76.06 per share, for a total transaction of $380,300.00. Following the acquisition, the director now owns 18,175 shares in the company, valued at $1,382,390.50. This trade represents a 37.95 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.11% of the stock is owned by insiders.

Institutional Trading of LyondellBasell Industries

A number of institutional investors and hedge funds have recently modified their holdings of LYB. State Street Corp boosted its position in shares of LyondellBasell Industries by 1.9% in the third quarter. State Street Corp now owns 12,202,118 shares of the specialty chemicals company’s stock valued at $1,170,183,000 after acquiring an additional 230,327 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in LyondellBasell Industries by 4.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 8,023,982 shares of the specialty chemicals company’s stock valued at $769,500,000 after purchasing an additional 362,671 shares during the period. Geode Capital Management LLC grew its position in LyondellBasell Industries by 4.4% in the 3rd quarter. Geode Capital Management LLC now owns 6,605,151 shares of the specialty chemicals company’s stock worth $638,964,000 after purchasing an additional 277,108 shares during the last quarter. JPMorgan Chase & Co. raised its position in shares of LyondellBasell Industries by 3.7% during the third quarter. JPMorgan Chase & Co. now owns 5,229,416 shares of the specialty chemicals company’s stock valued at $501,501,000 after buying an additional 187,150 shares during the last quarter. Finally, Pacer Advisors Inc. lifted its stake in shares of LyondellBasell Industries by 13.6% in the second quarter. Pacer Advisors Inc. now owns 4,828,869 shares of the specialty chemicals company’s stock valued at $461,930,000 after buying an additional 579,300 shares during the period. 71.20% of the stock is currently owned by institutional investors and hedge funds.

LyondellBasell Industries Trading Up 0.4 %

Shares of NYSE LYB opened at $77.35 on Friday. LyondellBasell Industries has a 12-month low of $72.21 and a 12-month high of $107.02. The company has a current ratio of 2.13, a quick ratio of 1.25 and a debt-to-equity ratio of 0.81. The stock’s 50 day simple moving average is $77.23 and its 200 day simple moving average is $88.05. The company has a market cap of $25.12 billion, a price-to-earnings ratio of 11.77, a price-to-earnings-growth ratio of 5.12 and a beta of 1.06.

LyondellBasell Industries (NYSE:LYB) last posted its earnings results on Friday, November 1st. The specialty chemicals company reported $1.88 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.98 by ($0.10). LyondellBasell Industries had a net margin of 5.29% and a return on equity of 17.05%. The firm had revenue of $10.33 billion for the quarter, compared to analyst estimates of $10.60 billion. During the same period in the previous year, the firm earned $2.46 earnings per share. The company’s revenue for the quarter was down 2.8% on a year-over-year basis. Equities research analysts expect that LyondellBasell Industries will post 6.48 EPS for the current year.

LyondellBasell Industries Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, December 9th. Shareholders of record on Monday, December 2nd were given a $1.34 dividend. This represents a $5.36 annualized dividend and a yield of 6.93%. The ex-dividend date was Monday, December 2nd. LyondellBasell Industries’s dividend payout ratio is 81.58%.

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.