LyondellBasell Industries’ (LYB) Neutral Rating Reiterated at Piper Sandler

Piper Sandler reissued their neutral rating on shares of LyondellBasell Industries (NYSE:LYB) in a research report report published on Tuesday, Marketbeat.com reports. They currently have a $95.00 target price on the specialty chemicals company’s stock, down from their prior target price of $112.00.

Several other research firms have also recently commented on LYB. Royal Bank of Canada lowered their target price on shares of LyondellBasell Industries from $104.00 to $92.00 and set an “outperform” rating on the stock in a research note on Thursday, December 19th. JPMorgan Chase & Co. dropped their target price on LyondellBasell Industries from $100.00 to $90.00 and set an “overweight” rating on the stock in a report on Friday, December 6th. Deutsche Bank Aktiengesellschaft decreased their price target on LyondellBasell Industries from $100.00 to $94.00 and set a “hold” rating for the company in a research note on Monday, November 4th. Mizuho dropped their price objective on LyondellBasell Industries from $97.00 to $85.00 and set a “neutral” rating on the stock in a research note on Monday, December 9th. Finally, Barclays decreased their target price on LyondellBasell Industries from $99.00 to $95.00 and set an “equal weight” rating for the company in a research note on Monday, November 4th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $94.73.

LyondellBasell Industries Stock Performance

LYB opened at $73.01 on Tuesday. 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 business’s 50 day moving average is $78.87 and its 200-day moving average is $89.31. The stock has a market cap of $23.71 billion, a PE ratio of 11.11, a price-to-earnings-growth ratio of 2.13 and a beta of 1.06. LyondellBasell Industries has a twelve month low of $72.21 and a twelve month high of $107.02.

LyondellBasell Industries (NYSE:LYB) last announced its earnings results on Friday, November 1st. The specialty chemicals company reported $1.88 earnings per share for the quarter, missing the consensus estimate of $1.98 by ($0.10). The business had revenue of $10.33 billion for the quarter, compared to the consensus estimate of $10.60 billion. LyondellBasell Industries had a net margin of 5.29% and a return on equity of 17.05%. The firm’s revenue was down 2.8% on a year-over-year basis. During the same period in the previous year, the firm earned $2.46 EPS. On average, analysts predict that LyondellBasell Industries will post 7.02 earnings per share for the current year.

LyondellBasell Industries Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, December 9th. Stockholders of record on Monday, December 2nd were issued a dividend of $1.34 per share. The ex-dividend date was Monday, December 2nd. This represents a $5.36 dividend on an annualized basis and a dividend yield of 7.34%. LyondellBasell Industries’s dividend payout ratio is 81.58%.

Insider Buying and Selling

In related news, Director Robin W.T. Buchanan bought 5,000 shares of the business’s stock in a transaction on Friday, December 13th. The stock was bought at an average price of $76.06 per share, for a total transaction of $380,300.00. Following the transaction, the director now directly owns 18,175 shares in the company, valued at $1,382,390.50. This represents a 37.95 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.11% of the company’s stock.

Institutional Trading of LyondellBasell Industries

A number of institutional investors have recently bought and sold shares of the company. State Street Corp grew its stake in shares of LyondellBasell Industries by 1.9% in the 3rd quarter. State Street Corp now owns 12,202,118 shares of the specialty chemicals company’s stock valued at $1,170,183,000 after buying an additional 230,327 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in LyondellBasell Industries by 4.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 8,023,982 shares of the specialty chemicals company’s stock worth $769,500,000 after acquiring an additional 362,671 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of LyondellBasell Industries by 4.4% during 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 holdings in shares of LyondellBasell Industries by 3.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 5,229,416 shares of the specialty chemicals company’s stock valued at $501,501,000 after purchasing an additional 187,150 shares in the last quarter. Finally, Pacer Advisors Inc. lifted its stake in shares of LyondellBasell Industries by 13.6% in 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 last quarter. Institutional investors and hedge funds 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.