LyondellBasell Industries (NYSE:LYB) Price Target Lowered to $85.00 at Wells Fargo & Company

LyondellBasell Industries (NYSE:LYB) had its target price cut by Wells Fargo & Company from $90.00 to $85.00 in a report released on Friday,Benzinga reports. They currently have an overweight rating on the specialty chemicals company’s stock.

LYB has been the subject of a number of other reports. StockNews.com cut shares of LyondellBasell Industries from a “buy” rating to a “hold” rating in a research note on Wednesday, January 8th. Mizuho reduced their price objective on shares of LyondellBasell Industries from $97.00 to $85.00 and set a “neutral” rating for the company in a research note on Monday, December 9th. JPMorgan Chase & Co. reissued a “neutral” rating and set a $60.00 target price (down from $80.00) on shares of LyondellBasell Industries in a research report on Friday. Citigroup reduced their price target on LyondellBasell Industries from $75.00 to $66.00 and set a “neutral” rating for the company in a research report on Friday. Finally, UBS Group lowered their price objective on LyondellBasell Industries from $77.00 to $76.00 and set a “neutral” rating on the stock in a report on Monday, February 3rd. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $82.33.

LyondellBasell Industries Trading Down 8.1 %

LyondellBasell Industries stock opened at $57.98 on Friday. LyondellBasell Industries has a 12 month low of $57.57 and a 12 month high of $107.02. The company has a quick ratio of 1.13, a current ratio of 1.83 and a debt-to-equity ratio of 0.84. The stock has a market cap of $18.75 billion, a P/E ratio of 14.00, a P/E/G ratio of 0.97 and a beta of 0.89. The company’s fifty day simple moving average is $74.48 and its 200-day simple moving average is $80.33.

LyondellBasell Industries (NYSE:LYB) last issued its earnings results on Friday, January 31st. The specialty chemicals company reported $0.75 EPS for the quarter, missing analysts’ consensus estimates of $1.28 by ($0.53). LyondellBasell Industries had a net margin of 3.39% and a return on equity of 15.97%. During the same period in the previous year, the company posted $1.26 earnings per share. As a group, sell-side analysts forecast that LyondellBasell Industries will post 6.31 EPS for the current fiscal year.

LyondellBasell Industries Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 10th were issued a $1.34 dividend. This represents a $5.36 dividend on an annualized basis and a yield of 9.24%. The ex-dividend date was Monday, March 10th. LyondellBasell Industries’s dividend payout ratio (DPR) is presently 129.47%.

Insiders Place Their Bets

In related news, Director Michael Sean Hanley bought 3,750 shares of LyondellBasell Industries stock in a transaction that occurred on Wednesday, March 12th. The stock was acquired at an average price of $72.05 per share, for a total transaction of $270,187.50. Following the completion of the purchase, the director now owns 16,028 shares in the company, valued at approximately $1,154,817.40. This represents a 30.54 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.11% of the company’s stock.

Institutional Trading of LyondellBasell Industries

A number of hedge funds have recently modified their holdings of the company. Vident Advisory LLC raised its stake in shares of LyondellBasell Industries by 0.8% in the fourth quarter. Vident Advisory LLC now owns 16,123 shares of the specialty chemicals company’s stock valued at $1,197,000 after purchasing an additional 131 shares in the last quarter. Webster Bank N. A. lifted its holdings in shares of LyondellBasell Industries by 70.4% during the 4th quarter. Webster Bank N. A. now owns 346 shares of the specialty chemicals company’s stock worth $26,000 after acquiring an additional 143 shares during the period. Cairn Investment Group Inc. boosted its position in shares of LyondellBasell Industries by 0.4% during the 4th quarter. Cairn Investment Group Inc. now owns 42,147 shares of the specialty chemicals company’s stock valued at $3,130,000 after acquiring an additional 155 shares in the last quarter. Alliance Wealth Advisors LLC UT increased its stake in LyondellBasell Industries by 5.2% in the fourth quarter. Alliance Wealth Advisors LLC UT now owns 3,608 shares of the specialty chemicals company’s stock valued at $268,000 after acquiring an additional 177 shares during the period. Finally, Y.D. More Investments Ltd raised its position in LyondellBasell Industries by 14.9% in the fourth quarter. Y.D. More Investments Ltd now owns 1,497 shares of the specialty chemicals company’s stock worth $111,000 after purchasing an additional 194 shares in the last quarter. 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.