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

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

Several other research analysts have also commented on LYB. Citigroup cut their price target on shares of LyondellBasell Industries from $75.00 to $66.00 and set a “neutral” rating on the stock in a report on Friday. Piper Sandler cut their target price on shares of LyondellBasell Industries from $95.00 to $84.00 and set a “neutral” rating on the stock in a research note on Thursday, February 13th. StockNews.com cut shares of 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 on the stock in a research report on Thursday, December 12th. Finally, Morgan Stanley reduced their price objective on LyondellBasell Industries from $90.00 to $85.00 and set an “overweight” rating on the stock in a research note on Tuesday, February 4th. 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. According to MarketBeat.com, LyondellBasell Industries presently has an average rating of “Hold” and a consensus price target of $82.33.

LyondellBasell Industries Stock Down 8.1 %

Shares of NYSE LYB opened at $57.98 on Friday. The stock has a market capitalization of $18.75 billion, a PE ratio of 14.00, a P/E/G ratio of 0.97 and a beta of 0.89. 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 firm has a fifty day moving average of $74.48 and a 200-day moving average of $80.14. LyondellBasell Industries has a 52-week low of $57.57 and a 52-week high of $107.02.

LyondellBasell Industries (NYSE:LYB) last announced 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. On average, analysts anticipate that LyondellBasell Industries will post 6.31 EPS for the current year.

LyondellBasell Industries Dividend Announcement

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

Insider Buying and Selling at LyondellBasell Industries

In related news, Director Michael Sean Hanley bought 3,750 shares of the company’s stock in a transaction dated Wednesday, March 12th. The stock was bought at an average price of $72.05 per share, with a total value of $270,187.50. Following the transaction, the director now owns 16,028 shares of the company’s stock, valued at approximately $1,154,817.40. This trade represents a 30.54 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. 0.11% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On LyondellBasell Industries

Several large investors have recently modified their holdings of the stock. Ensign Peak Advisors Inc raised its stake in LyondellBasell Industries by 207.8% during the fourth quarter. Ensign Peak Advisors Inc now owns 2,254,589 shares of the specialty chemicals company’s stock valued at $167,448,000 after buying an additional 1,522,043 shares in the last quarter. Amundi increased its holdings in shares of LyondellBasell Industries by 48.6% in the 4th quarter. Amundi now owns 3,858,033 shares of the specialty chemicals company’s stock valued at $283,452,000 after acquiring an additional 1,260,913 shares during the last quarter. Norges Bank acquired a new stake in shares of LyondellBasell Industries during the 4th quarter valued at approximately $81,015,000. Raymond James Financial Inc. bought a new position in LyondellBasell Industries during the fourth quarter worth $69,115,000. Finally, Dodge & Cox boosted its holdings in LyondellBasell Industries by 5.3% in the fourth quarter. Dodge & Cox now owns 16,965,832 shares of the specialty chemicals company’s stock worth $1,260,052,000 after purchasing an additional 851,365 shares during the period. 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.