Wells Fargo & Company Lowers LyondellBasell Industries (NYSE:LYB) Price Target to $85.00

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

LYB has been the topic of a number of other research reports. The Goldman Sachs Group decreased their price objective on shares of LyondellBasell Industries from $96.00 to $86.00 and set a “sell” rating on the stock in a report on Thursday, December 12th. StockNews.com cut shares of LyondellBasell Industries from a “buy” rating to a “hold” rating in a research report on Wednesday, January 8th. Royal Bank of Canada increased their price objective on LyondellBasell Industries from $82.00 to $90.00 and gave the company an “outperform” rating in a research report on Tuesday, February 4th. Morgan Stanley dropped their target price on LyondellBasell Industries from $90.00 to $85.00 and set an “overweight” rating for the company in a research report on Tuesday, February 4th. Finally, Piper Sandler decreased their price target on LyondellBasell Industries from $95.00 to $84.00 and set a “neutral” rating on the stock in a report on Thursday, February 13th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $82.33.

LyondellBasell Industries Stock Down 8.1 %

Shares of NYSE:LYB opened at $57.98 on Friday. LyondellBasell Industries has a 52 week low of $57.57 and a 52 week high of $107.02. The company 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’s fifty day moving average is $74.48 and its 200-day moving average is $80.33. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.13 and a current ratio of 1.83.

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

LyondellBasell Industries Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 10th were paid a $1.34 dividend. This represents a $5.36 annualized dividend and a yield of 9.24%. The ex-dividend date was Monday, March 10th. LyondellBasell Industries’s payout ratio is presently 129.47%.

Insider Activity at LyondellBasell Industries

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

Institutional Investors Weigh In On LyondellBasell Industries

Institutional investors have recently added to or reduced their stakes in the stock. Versant Capital Management Inc raised its position in LyondellBasell Industries by 127.9% in the 1st quarter. Versant Capital Management Inc now owns 866 shares of the specialty chemicals company’s stock valued at $61,000 after buying an additional 486 shares during the last quarter. MassMutual Private Wealth & Trust FSB grew its position in LyondellBasell Industries by 110.2% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 1,171 shares of the specialty chemicals company’s stock valued at $82,000 after purchasing an additional 614 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its stake in LyondellBasell Industries by 603.5% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 216,142 shares of the specialty chemicals company’s stock valued at $16,053,000 after buying an additional 185,418 shares during the last quarter. Anchor Pointe Wealth Management LLC bought a new stake in LyondellBasell Industries during the 4th quarter worth about $209,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in shares of LyondellBasell Industries during the 4th quarter worth about $13,697,000. 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.