LyondellBasell Industries (NYSE:LYB) Price Target Cut to $92.00 by Analysts at Royal Bank of Canada

LyondellBasell Industries (NYSE:LYB) had its price objective lowered by Royal Bank of Canada from $104.00 to $92.00 in a research note published on Thursday morning,Benzinga reports. Royal Bank of Canada currently has an outperform rating on the specialty chemicals company’s stock.

Several other research firms have also recently issued reports on LYB. Wells Fargo & Company decreased their price objective on shares of LyondellBasell Industries from $105.00 to $95.00 and set an “overweight” rating for the company in a research report on Tuesday, December 10th. The Goldman Sachs Group lowered 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. Barclays cut their target price on LyondellBasell Industries from $99.00 to $95.00 and set an “equal weight” rating on the stock in a research report on Monday, November 4th. Mizuho lowered their price target on LyondellBasell Industries from $97.00 to $85.00 and set a “neutral” rating for the company in a report on Monday, December 9th. Finally, Piper Sandler cut their price objective on shares of LyondellBasell Industries from $117.00 to $112.00 and set an “overweight” rating on the stock in a report on Friday, November 8th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, LyondellBasell Industries presently has a consensus rating of “Hold” and a consensus price target of $96.27.

LyondellBasell Industries Price Performance

Shares of NYSE LYB opened at $73.50 on Thursday. The company has a debt-to-equity ratio of 0.81, a current ratio of 2.13 and a quick ratio of 1.25. The company has a market cap of $23.87 billion, a price-to-earnings ratio of 11.19, a price-to-earnings-growth ratio of 2.16 and a beta of 1.05. The stock’s 50-day moving average is $83.31 and its two-hundred day moving average is $91.38. LyondellBasell Industries has a 1-year low of $72.93 and a 1-year high of $107.02.

LyondellBasell Industries (NYSE:LYB) last issued 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). LyondellBasell Industries had a net margin of 5.29% and a return on equity of 17.05%. The firm had revenue of $10.33 billion during the quarter, compared to analyst estimates of $10.60 billion. During the same period last year, the business earned $2.46 EPS. The firm’s revenue was down 2.8% compared to the same quarter last year. Analysts forecast that LyondellBasell Industries will post 7.02 EPS for the current fiscal year.

LyondellBasell Industries Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 9th. Shareholders of record on Monday, December 2nd were given 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 yield of 7.29%. LyondellBasell Industries’s payout ratio is 81.58%.

Insider Buying and Selling at LyondellBasell Industries

In related news, Director Robin W.T. Buchanan purchased 5,000 shares of the stock in a transaction dated Friday, December 13th. The shares were acquired at an average cost of $76.06 per share, with a total value of $380,300.00. Following the purchase, the director now directly owns 18,175 shares in the company, valued at $1,382,390.50. This trade represents a 37.95 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.11% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in LYB. Blue Trust Inc. raised its position in LyondellBasell Industries by 311.0% during the second quarter. Blue Trust Inc. now owns 300 shares of the specialty chemicals company’s stock worth $31,000 after acquiring an additional 227 shares during the last quarter. Raymond James Financial Services Advisors Inc. grew its holdings in shares of LyondellBasell Industries by 6.0% during the second quarter. Raymond James Financial Services Advisors Inc. now owns 117,817 shares of the specialty chemicals company’s stock worth $11,270,000 after buying an additional 6,638 shares in the last quarter. Atria Wealth Solutions Inc. raised its position in shares of LyondellBasell Industries by 33.6% in the second quarter. Atria Wealth Solutions Inc. now owns 11,109 shares of the specialty chemicals company’s stock valued at $1,063,000 after buying an additional 2,792 shares during the last quarter. Fifth Third Wealth Advisors LLC purchased a new position in shares of LyondellBasell Industries during the second quarter valued at approximately $204,000. Finally, &PARTNERS lifted its stake in shares of LyondellBasell Industries by 123.3% during the 2nd quarter. &PARTNERS now owns 8,372 shares of the specialty chemicals company’s stock worth $801,000 after purchasing an additional 4,622 shares during the period. 71.20% of the stock is owned by hedge funds and other 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.