Barclays Cuts LyondellBasell Industries (NYSE:LYB) Price Target to $80.00

LyondellBasell Industries (NYSE:LYB) had its price target decreased by Barclays from $90.00 to $80.00 in a research report sent to investors on Monday,Benzinga reports. Barclays currently has an equal weight rating on the specialty chemicals company’s stock.

Several other research firms have also recently issued reports on LYB. UBS Group decreased their price target on LyondellBasell Industries from $77.00 to $76.00 and set a “neutral” rating on the stock in a report on Monday. JPMorgan Chase & Co. lowered their price target on shares of LyondellBasell Industries from $100.00 to $90.00 and set an “overweight” rating for the company in a research report on Friday, December 6th. StockNews.com downgraded shares of LyondellBasell Industries from a “buy” rating to a “hold” rating in a research note on Wednesday, January 8th. Mizuho lowered their target price on shares of LyondellBasell Industries from $97.00 to $85.00 and set a “neutral” rating for the company in a report on Monday, December 9th. Finally, Royal Bank of Canada dropped their target price on shares of LyondellBasell Industries from $104.00 to $92.00 and set an “outperform” rating for the company in a research report on Thursday, December 19th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $89.17.

LyondellBasell Industries Trading Down 1.6 %

LYB opened at $77.00 on Monday. LyondellBasell Industries has a 1-year low of $72.21 and a 1-year high of $107.02. The stock has a market capitalization of $25.01 billion, a PE ratio of 18.60, a PEG ratio of 5.11 and a beta of 1.05. The company has a current ratio of 1.83, a quick ratio of 1.13 and a debt-to-equity ratio of 0.84. The firm has a 50-day moving average price of $76.23 and a two-hundred day moving average price of $86.83.

LyondellBasell Industries (NYSE:LYB) last posted its quarterly earnings data on Friday, January 31st. The specialty chemicals company reported $0.75 earnings per share for the quarter, missing the consensus estimate of $1.28 by ($0.53). LyondellBasell Industries had a return on equity of 15.97% and a net margin of 3.39%. During the same quarter in the prior year, the firm posted $1.26 earnings per share. As a group, equities analysts anticipate that LyondellBasell Industries will post 7.4 earnings per share for the current fiscal year.

LyondellBasell Industries Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 9th. Stockholders of record on Monday, December 2nd were given a dividend of $1.34 per share. This represents a $5.36 dividend on an annualized basis and a dividend yield of 6.96%. The ex-dividend date of this dividend was Monday, December 2nd. LyondellBasell Industries’s dividend payout ratio is currently 129.47%.

Insider Activity

In related news, Director Robin W.T. Buchanan acquired 5,000 shares of the company’s stock in a transaction that occurred on Friday, December 13th. The shares were acquired at an average cost of $76.06 per share, for a total transaction of $380,300.00. Following the completion of the acquisition, the director now directly owns 18,175 shares in the company, valued at approximately $1,382,390.50. The trade was a 37.95 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.11% of the stock is currently owned by company insiders.

Institutional Trading of LyondellBasell Industries

Several hedge funds and other institutional investors have recently modified their holdings of the company. Jacobs Levy Equity Management Inc. grew its stake in shares of LyondellBasell Industries by 211.9% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 1,283,163 shares of the specialty chemicals company’s stock worth $123,055,000 after acquiring an additional 871,708 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in LyondellBasell Industries by 4.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 8,023,982 shares of the specialty chemicals company’s stock valued at $769,500,000 after purchasing an additional 362,671 shares in the last quarter. Franklin Resources Inc. increased its stake in LyondellBasell Industries by 11.4% in the 3rd quarter. Franklin Resources Inc. now owns 2,875,267 shares of the specialty chemicals company’s stock valued at $268,664,000 after buying an additional 293,622 shares during the last quarter. Geode Capital Management LLC lifted its position in LyondellBasell Industries by 4.4% during the 3rd quarter. Geode Capital Management LLC now owns 6,605,151 shares of the specialty chemicals company’s stock worth $638,964,000 after buying an additional 277,108 shares in the last quarter. Finally, Allianz Asset Management GmbH grew its holdings in shares of LyondellBasell Industries by 40.0% in the 4th quarter. Allianz Asset Management GmbH now owns 947,614 shares of the specialty chemicals company’s stock valued at $70,379,000 after acquiring an additional 270,694 shares in the last quarter. Institutional investors and hedge funds 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.