Morgan Stanley Lowers LyondellBasell Industries (NYSE:LYB) Price Target to $90.00

LyondellBasell Industries (NYSE:LYB) had its price target decreased by Morgan Stanley from $110.00 to $90.00 in a research report released on Monday,Benzinga reports. Morgan Stanley currently has an overweight rating on the specialty chemicals company’s stock.

Several other equities research analysts have also weighed in on LYB. JPMorgan Chase & Co. lowered their target price on shares of 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 cut their target price on shares of LyondellBasell Industries from $100.00 to $94.00 and set a “hold” rating for the company in a research note on Monday, November 4th. StockNews.com lowered LyondellBasell Industries from a “buy” rating to a “hold” rating in a research report on Wednesday, January 8th. The Goldman Sachs Group cut their price objective on LyondellBasell Industries from $96.00 to $86.00 and set a “sell” rating for the company in a research report on Thursday, December 12th. Finally, Mizuho decreased their target price on LyondellBasell Industries from $97.00 to $85.00 and set a “neutral” rating on the stock in a report on Monday, December 9th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $94.33.

LyondellBasell Industries Stock Performance

NYSE:LYB opened at $75.09 on Monday. 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 firm has a 50-day moving average price of $78.41 and a 200 day moving average price of $88.89. The firm has a market capitalization of $24.39 billion, a PE ratio of 11.43, a price-to-earnings-growth ratio of 2.13 and a beta of 1.06. LyondellBasell Industries has a 12-month low of $72.21 and a 12-month high of $107.02.

LyondellBasell Industries (NYSE:LYB) last posted its earnings results 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 return on equity of 17.05% and a net margin of 5.29%. The company 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 quarterly revenue was down 2.8% compared to the same quarter last year. Research analysts anticipate that LyondellBasell Industries will post 7.02 earnings per share for the current fiscal year.

LyondellBasell Industries Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 9th. Shareholders of record on Monday, December 2nd were paid a $1.34 dividend. The ex-dividend date was Monday, December 2nd. This represents a $5.36 dividend on an annualized basis and a yield of 7.14%. LyondellBasell Industries’s payout ratio is presently 81.58%.

Insider Buying and Selling at LyondellBasell Industries

In other news, Director Robin W.T. Buchanan acquired 5,000 shares of LyondellBasell Industries stock in a transaction that occurred on Friday, December 13th. The shares were acquired at an average price of $76.06 per share, with a total value of $380,300.00. Following the purchase, the director now directly owns 18,175 shares of the company’s stock, valued at $1,382,390.50. The trade was a 37.95 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.11% of the company’s stock.

Institutional Investors Weigh In On LyondellBasell Industries

Several hedge funds have recently bought and sold shares of the company. State Street Corp increased its position 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. increased its holdings in shares of 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 raised its position in shares of LyondellBasell Industries by 4.4% during the third 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 period. JPMorgan Chase & Co. lifted 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. grew its position 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 period. 71.20% of the stock is currently owned by institutional investors and hedge funds.

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.