Royal Bank of Canada Lowers LyondellBasell Industries (NYSE:LYB) Price Target to $104.00

LyondellBasell Industries (NYSE:LYB) had its target price decreased by Royal Bank of Canada from $110.00 to $104.00 in a research note published on Monday morning,Benzinga reports. Royal Bank of Canada currently has an outperform rating on the specialty chemicals company’s stock.

LYB has been the subject of several other research reports. JPMorgan Chase & Co. decreased their price objective on LyondellBasell Industries from $110.00 to $100.00 and set an “overweight” rating for the company in a research note on Monday. Barclays decreased their target price on LyondellBasell Industries from $99.00 to $95.00 and set an “equal weight” rating for the company in a research note on Monday. Mizuho decreased their target price on LyondellBasell Industries from $101.00 to $97.00 and set a “neutral” rating for the company in a research note on Monday. UBS Group decreased their target price on LyondellBasell Industries from $106.00 to $101.00 and set a “neutral” rating for the company in a research note on Tuesday, July 9th. Finally, Evercore ISI upgraded LyondellBasell Industries to a “hold” rating in a research note on Monday, August 5th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $100.56.

LyondellBasell Industries Stock Up 1.0 %

Shares of NYSE:LYB opened at $87.33 on Monday. The business has a 50-day moving average price of $92.81 and a 200 day moving average price of $95.71. 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 company has a market capitalization of $28.36 billion, a price-to-earnings ratio of 13.29, a PEG ratio of 1.63 and a beta of 1.08. LyondellBasell Industries has a 12-month low of $83.36 and a 12-month high of $107.02.

LyondellBasell Industries (NYSE:LYB) last released its earnings results on Friday, November 1st. The specialty chemicals company reported $1.88 earnings per share for the quarter, missing the consensus estimate of $1.98 by ($0.10). The firm had revenue of $10.33 billion during the quarter, compared to analyst estimates of $10.60 billion. LyondellBasell Industries had a net margin of 5.29% and a return on equity of 17.05%. The business’s revenue was down 2.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.46 earnings per share. Sell-side analysts expect that LyondellBasell Industries will post 7.38 EPS for the current year.

LyondellBasell Industries Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Monday, August 26th were issued a dividend of $1.34 per share. This represents a $5.36 dividend on an annualized basis and a yield of 6.14%. The ex-dividend date was Monday, August 26th. LyondellBasell Industries’s dividend payout ratio is presently 81.58%.

Institutional Trading of LyondellBasell Industries

A number of institutional investors have recently bought and sold shares of the company. Fifth Third Wealth Advisors LLC boosted its position in LyondellBasell Industries by 101.0% during the third quarter. Fifth Third Wealth Advisors LLC now owns 4,295 shares of the specialty chemicals company’s stock worth $412,000 after purchasing an additional 2,158 shares in the last quarter. Prospera Financial Services Inc boosted its position in LyondellBasell Industries by 27.0% during the third quarter. Prospera Financial Services Inc now owns 3,145 shares of the specialty chemicals company’s stock worth $302,000 after purchasing an additional 668 shares in the last quarter. Verity & Verity LLC boosted its position in LyondellBasell Industries by 18.5% during the third quarter. Verity & Verity LLC now owns 134,611 shares of the specialty chemicals company’s stock worth $12,909,000 after purchasing an additional 21,002 shares in the last quarter. Caprock Group LLC boosted its position in LyondellBasell Industries by 29.0% during the third quarter. Caprock Group LLC now owns 3,788 shares of the specialty chemicals company’s stock worth $363,000 after purchasing an additional 851 shares in the last quarter. Finally, Pathstone Holdings LLC lifted its position in shares of LyondellBasell Industries by 8.2% in the third quarter. Pathstone Holdings LLC now owns 41,981 shares of the specialty chemicals company’s stock valued at $4,026,000 after acquiring an additional 3,197 shares in the last quarter. 71.20% of the stock is currently owned by hedge funds and other institutional investors.

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.