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

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

Other equities research analysts have also recently issued reports about the company. Wells Fargo & Company lowered their target price on LyondellBasell Industries from $105.00 to $95.00 and set an “overweight” rating for the company in a research note 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. JPMorgan Chase & Co. cut their target price 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. StockNews.com upgraded shares of LyondellBasell Industries from a “hold” rating to a “buy” rating in a research report on Tuesday, December 24th. Finally, Royal Bank of Canada cut their price objective on shares of LyondellBasell Industries from $104.00 to $92.00 and set an “outperform” rating on the stock in a report on Thursday, December 19th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $94.73.

LyondellBasell Industries Stock Up 0.1 %

Shares of NYSE LYB opened at $73.96 on Tuesday. LyondellBasell Industries has a 12-month low of $72.21 and a 12-month high of $107.02. The firm’s 50-day simple moving average is $79.43 and its 200 day simple moving average is $89.54. The company has a quick ratio of 1.25, a current ratio of 2.13 and a debt-to-equity ratio of 0.81. The company has a market cap of $24.02 billion, a price-to-earnings ratio of 11.26, a price-to-earnings-growth ratio of 2.13 and a beta of 1.06.

LyondellBasell Industries (NYSE:LYB) last announced its 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 company had revenue of $10.33 billion for the quarter, compared to analyst estimates of $10.60 billion. LyondellBasell Industries had a return on equity of 17.05% and a net margin of 5.29%. LyondellBasell Industries’s revenue for the quarter was down 2.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.46 earnings per share. On average, research analysts expect that LyondellBasell Industries will post 7.02 earnings per share for the current fiscal year.

LyondellBasell Industries Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 9th. Investors of record on Monday, December 2nd were given a $1.34 dividend. This represents a $5.36 dividend on an annualized basis and a dividend yield of 7.25%. The ex-dividend date of this dividend was Monday, December 2nd. LyondellBasell Industries’s dividend payout ratio is currently 81.58%.

Insiders Place Their Bets

In other LyondellBasell Industries news, Director Robin W.T. Buchanan bought 5,000 shares of the stock in a transaction that occurred on Friday, December 13th. The stock was acquired at an average cost of $76.06 per share, with a total value of $380,300.00. Following the purchase, the director now owns 18,175 shares in the company, valued at $1,382,390.50. This trade represents a 37.95 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.11% of the company’s stock.

Institutional Investors Weigh In On LyondellBasell Industries

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Rockland Trust Co. increased its holdings in LyondellBasell Industries by 0.9% during the 3rd quarter. Rockland Trust Co. now owns 13,070 shares of the specialty chemicals company’s stock worth $1,253,000 after purchasing an additional 112 shares in the last quarter. Petredis Investment Advisors LLC grew its holdings in shares of LyondellBasell Industries by 0.5% during the third quarter. Petredis Investment Advisors LLC now owns 23,100 shares of the specialty chemicals company’s stock worth $2,215,000 after buying an additional 116 shares in the last quarter. Massmutual Trust Co. FSB ADV raised its position in LyondellBasell Industries by 25.5% in the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 601 shares of the specialty chemicals company’s stock valued at $58,000 after buying an additional 122 shares during the last quarter. Fiduciary Group LLC lifted its stake in LyondellBasell Industries by 6.5% in the 2nd quarter. Fiduciary Group LLC now owns 2,204 shares of the specialty chemicals company’s stock valued at $211,000 after acquiring an additional 134 shares in the last quarter. Finally, Castleview Partners LLC boosted its position in LyondellBasell Industries by 7.2% during the 3rd quarter. Castleview Partners LLC now owns 2,023 shares of the specialty chemicals company’s stock worth $194,000 after acquiring an additional 136 shares during the last quarter. 71.20% of the stock is currently owned by institutional investors and hedge funds.

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.