Citigroup Cuts LyondellBasell Industries (NYSE:LYB) Price Target to $66.00

LyondellBasell Industries (NYSE:LYB) had its target price lowered by Citigroup from $75.00 to $66.00 in a report published on Friday,Benzinga reports. The firm currently has a neutral rating on the specialty chemicals company’s stock.

A number of other research firms have also weighed in on LYB. Morgan Stanley lowered their price target on shares of LyondellBasell Industries from $90.00 to $85.00 and set an “overweight” rating for the company in a report on Tuesday, February 4th. Royal Bank of Canada raised their target price on LyondellBasell Industries from $82.00 to $90.00 and gave the company an “outperform” rating in a research note on Tuesday, February 4th. Piper Sandler cut their price target on LyondellBasell Industries from $95.00 to $84.00 and set a “neutral” rating on the stock in a research note on Thursday, February 13th. UBS Group reduced their price target on LyondellBasell Industries from $77.00 to $76.00 and set a “neutral” rating for the company in a report on Monday, February 3rd. Finally, Barclays dropped their price objective on LyondellBasell Industries from $80.00 to $72.00 and set an “equal weight” rating on the stock in a report on Tuesday, April 1st. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $82.33.

LyondellBasell Industries Trading Down 8.1 %

Shares of LYB 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 stock’s 50-day moving average is $74.48 and its two-hundred day moving average is $80.14. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.83 and a quick ratio of 1.13. The stock has a market cap of $18.75 billion, a PE ratio of 14.00, a P/E/G ratio of 0.97 and a beta of 0.89.

LyondellBasell Industries (NYSE:LYB) last released its quarterly earnings results on Friday, January 31st. The specialty chemicals company reported $0.75 EPS for the quarter, missing the consensus estimate of $1.28 by ($0.53). LyondellBasell Industries had a return on equity of 15.97% and a net margin of 3.39%. During the same period last year, the business earned $1.26 EPS. Equities analysts forecast that LyondellBasell Industries will post 6.31 earnings per share for the current fiscal year.

LyondellBasell Industries Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 10th were paid a dividend of $1.34 per share. This represents a $5.36 annualized dividend 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 other LyondellBasell Industries news, Director Michael Sean Hanley acquired 3,750 shares of the company’s stock in a transaction that occurred on Wednesday, March 12th. The shares were purchased 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 directly owns 16,028 shares in the company, valued at $1,154,817.40. The trade was a 30.54 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. 0.11% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On LyondellBasell Industries

Several institutional investors have recently made changes to their positions in the stock. Webster Bank N. A. boosted its position in LyondellBasell Industries by 70.4% during the 4th quarter. Webster Bank N. A. now owns 346 shares of the specialty chemicals company’s stock valued at $26,000 after purchasing an additional 143 shares during the period. Rosenberg Matthew Hamilton boosted its holdings in shares of LyondellBasell Industries by 268.2% during the fourth quarter. Rosenberg Matthew Hamilton now owns 405 shares of the specialty chemicals company’s stock valued at $30,000 after acquiring an additional 295 shares during the period. Bank Julius Baer & Co. Ltd Zurich acquired a new position in shares of LyondellBasell Industries during the fourth quarter valued at $37,000. Lazard Asset Management LLC grew its position in shares of LyondellBasell Industries by 84.9% during the fourth quarter. Lazard Asset Management LLC now owns 466 shares of the specialty chemicals company’s stock worth $34,000 after acquiring an additional 214 shares during the last quarter. Finally, Covestor Ltd increased its holdings in shares of LyondellBasell Industries by 107.6% in the 4th quarter. Covestor Ltd now owns 548 shares of the specialty chemicals company’s stock worth $41,000 after acquiring an additional 284 shares during the period. 71.20% of the stock is owned by institutional investors.

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.