LyondellBasell Industries (NYSE:LYB) Earns “Neutral” Rating from Piper Sandler

Piper Sandler reaffirmed their neutral rating on shares of LyondellBasell Industries (NYSE:LYB) in a research note issued to investors on Tuesday morning, MarketBeat.com reports. The brokerage currently has a $95.00 target price on the specialty chemicals company’s stock, down from their previous target price of $112.00.

LYB has been the subject of several other reports. Mizuho reduced their price objective on LyondellBasell Industries from $97.00 to $85.00 and set a “neutral” rating for the company in a research report on Monday, December 9th. JPMorgan Chase & Co. decreased their price target on shares of LyondellBasell Industries from $100.00 to $90.00 and set an “overweight” rating on the stock in a research report on Friday, December 6th. Barclays cut their price objective on shares of LyondellBasell Industries from $99.00 to $95.00 and set an “equal weight” rating for the company in a research report on Monday, November 4th. The Goldman Sachs Group decreased their target price 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, Wells Fargo & Company cut their price target on LyondellBasell Industries from $105.00 to $95.00 and set an “overweight” rating for the company in a report on Tuesday, December 10th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $94.73.

LyondellBasell Industries Price Performance

Shares of LyondellBasell Industries stock opened at $73.01 on Tuesday. LyondellBasell Industries has a 1-year low of $72.21 and a 1-year high of $107.02. The firm has a fifty day simple moving average of $78.87 and a 200-day simple moving average of $89.31. 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 stock has a market capitalization of $23.71 billion, a price-to-earnings ratio of 11.11, a PEG ratio of 2.13 and a beta of 1.06.

LyondellBasell Industries (NYSE:LYB) last released its quarterly earnings results on Friday, November 1st. The specialty chemicals company reported $1.88 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.98 by ($0.10). The firm 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 quarter last year, the company earned $2.46 earnings per share. On average, sell-side analysts expect that LyondellBasell Industries will post 7.02 earnings per share for the current year.

LyondellBasell Industries Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, December 9th. Stockholders 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 annualized dividend and a dividend yield of 7.34%. LyondellBasell Industries’s dividend payout ratio is presently 81.58%.

Insider Buying and Selling

In other LyondellBasell Industries news, Director Robin W.T. Buchanan purchased 5,000 shares of the company’s stock in a transaction that occurred on Friday, December 13th. The stock was purchased at an average cost of $76.06 per share, with a total value of $380,300.00. Following the acquisition, the director now directly owns 18,175 shares of the company’s stock, valued at approximately $1,382,390.50. This trade represents a 37.95 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link. 0.11% of the stock is currently owned by corporate insiders.

Institutional Trading of LyondellBasell Industries

Large investors have recently made changes to their positions in the business. CVA Family Office LLC lifted its position in LyondellBasell Industries by 155.9% during the 3rd quarter. CVA Family Office LLC now owns 261 shares of the specialty chemicals company’s stock worth $25,000 after buying an additional 159 shares in the last quarter. Matrix Trust Co bought a new position in shares of LyondellBasell Industries in the third quarter worth about $30,000. Ashton Thomas Securities LLC bought a new stake in shares of LyondellBasell Industries during the third quarter valued at approximately $31,000. Fortitude Family Office LLC increased its holdings in shares of LyondellBasell Industries by 162.0% in the third quarter. Fortitude Family Office LLC now owns 469 shares of the specialty chemicals company’s stock valued at $45,000 after purchasing an additional 290 shares in the last quarter. Finally, Gilliland Jeter Wealth Management LLC raised its position in LyondellBasell Industries by 58.0% in the 3rd quarter. Gilliland Jeter Wealth Management LLC now owns 553 shares of the specialty chemicals company’s stock worth $53,000 after purchasing an additional 203 shares during the last quarter. 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.