LyondellBasell Industries (NYSE:LYB) Given New $113.00 Price Target at JPMorgan Chase & Co.

LyondellBasell Industries (NYSE:LYB) had its price objective hoisted by JPMorgan Chase & Co. from $110.00 to $113.00 in a research note released on Monday, Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the specialty chemicals company’s stock.

LYB has been the subject of several other reports. UBS Group dropped their price objective on LyondellBasell Industries from $106.00 to $101.00 and set a neutral rating for the company in a report on Tuesday, July 9th. BMO Capital Markets lifted their price objective on LyondellBasell Industries from $99.00 to $105.00 and gave the company a market perform rating in a report on Tuesday, April 30th. Deutsche Bank Aktiengesellschaft lifted their price objective on LyondellBasell Industries from $100.00 to $105.00 and gave the company a hold rating in a report on Tuesday, April 30th. Citigroup boosted their price target on LyondellBasell Industries from $96.00 to $104.00 and gave the stock a neutral rating in a report on Wednesday, April 10th. Finally, Mizuho boosted their price target on LyondellBasell Industries from $98.00 to $108.00 and gave the stock a neutral rating in a report on Monday, April 29th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, LyondellBasell Industries has an average rating of Hold and an average price target of $105.67.

LyondellBasell Industries Stock Performance

NYSE:LYB traded up $2.96 during mid-day trading on Monday, hitting $95.52. 2,528,509 shares of the stock were exchanged, compared to its average volume of 1,792,086. The stock has a market capitalization of $31.10 billion, a price-to-earnings ratio of 14.96, a price-to-earnings-growth ratio of 1.21 and a beta of 1.09. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.32 and a current ratio of 2.12. The firm’s 50-day simple moving average is $95.88 and its 200 day simple moving average is $98.12. LyondellBasell Industries has a fifty-two week low of $88.46 and a fifty-two week high of $107.02.

LyondellBasell Industries (NYSE:LYB) last announced its quarterly earnings data on Friday, August 2nd. The specialty chemicals company reported $2.24 earnings per share for the quarter, beating the consensus estimate of $2.23 by $0.01. The firm had revenue of $10.56 billion during the quarter, compared to analysts’ expectations of $10.44 billion. LyondellBasell Industries had a return on equity of 19.31% and a net margin of 5.20%. The company’s quarterly revenue was up 2.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.44 EPS. As a group, equities analysts anticipate that LyondellBasell Industries will post 8.3 EPS for the current fiscal year.

LyondellBasell Industries Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 10th. Investors of record on Monday, June 3rd were given a dividend of $1.34 per share. The ex-dividend date was Monday, June 3rd. This represents a $5.36 dividend on an annualized basis and a yield of 5.61%. This is a positive change from LyondellBasell Industries’s previous quarterly dividend of $1.25. LyondellBasell Industries’s payout ratio is currently 82.84%.

Institutional Investors Weigh In On LyondellBasell Industries

A number of institutional investors have recently made changes to their positions in the stock. Spire Wealth Management grew its position in shares of LyondellBasell Industries by 4.2% in the 1st quarter. Spire Wealth Management now owns 2,534 shares of the specialty chemicals company’s stock valued at $259,000 after buying an additional 102 shares during the last quarter. Lantz Financial LLC grew its position in shares of LyondellBasell Industries by 3.6% in the 1st quarter. Lantz Financial LLC now owns 3,174 shares of the specialty chemicals company’s stock valued at $325,000 after buying an additional 109 shares during the last quarter. Pinnacle Wealth Management Advisory Group LLC grew its position in shares of LyondellBasell Industries by 1.2% in the 4th quarter. Pinnacle Wealth Management Advisory Group LLC now owns 9,567 shares of the specialty chemicals company’s stock valued at $910,000 after buying an additional 114 shares during the last quarter. Metis Global Partners LLC grew its position in shares of LyondellBasell Industries by 0.9% in the 4th quarter. Metis Global Partners LLC now owns 13,264 shares of the specialty chemicals company’s stock valued at $1,261,000 after buying an additional 115 shares during the last quarter. Finally, Verdence Capital Advisors LLC grew its position in shares of LyondellBasell Industries by 0.9% in the 2nd quarter. Verdence Capital Advisors LLC now owns 13,905 shares of the specialty chemicals company’s stock valued at $1,330,000 after buying an additional 120 shares during the last quarter. Institutional investors own 71.20% of the company’s stock.

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.