LyondellBasell Industries (NYSE:LYB) Price Target Cut to $39.00 by Analysts at Wolfe Research

LyondellBasell Industries (NYSE:LYB) had its price target reduced by Wolfe Research from $40.00 to $39.00 in a research note published on Friday,MarketScreener reports. They currently have an underperform rating on the specialty chemicals company’s stock.

Other analysts have also issued reports about the company. The Goldman Sachs Group lowered their price objective on LyondellBasell Industries from $59.00 to $51.00 and set a “sell” rating for the company in a report on Friday, October 17th. Royal Bank Of Canada raised their price objective on LyondellBasell Industries from $44.00 to $49.00 and gave the stock a “sector perform” rating in a research note on Friday. Jefferies Financial Group lowered their target price on shares of LyondellBasell Industries from $50.00 to $46.00 and set a “hold” rating for the company in a research note on Monday, December 8th. Zacks Research raised shares of LyondellBasell Industries from a “strong sell” rating to a “hold” rating in a report on Tuesday, December 2nd. Finally, Wall Street Zen lowered shares of LyondellBasell Industries from a “hold” rating to a “sell” rating in a report on Saturday, November 22nd. Two analysts have rated the stock with a Buy rating, sixteen have given a Hold rating and five have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Reduce” and a consensus target price of $52.42.

LyondellBasell Industries Stock Performance

LyondellBasell Industries stock opened at $50.94 on Friday. The company has a current ratio of 1.57, a quick ratio of 0.93 and a debt-to-equity ratio of 1.00. The stock has a 50 day moving average of $45.17 and a 200-day moving average of $50.63. The stock has a market cap of $16.40 billion, a P/E ratio of -13.58 and a beta of 0.70. LyondellBasell Industries has a 52 week low of $41.58 and a 52 week high of $79.39.

LyondellBasell Industries (NYSE:LYB) last posted its quarterly earnings data on Friday, October 31st. The specialty chemicals company reported $1.01 EPS for the quarter, beating analysts’ consensus estimates of $0.80 by $0.21. The firm had revenue of $7.73 billion for the quarter, compared to the consensus estimate of $7.41 billion. LyondellBasell Industries had a negative net margin of 3.70% and a positive return on equity of 7.50%. The firm’s revenue was down 10.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.88 EPS. On average, analysts expect that LyondellBasell Industries will post 6.31 EPS for the current fiscal year.

LyondellBasell Industries Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 8th. Investors of record on Monday, December 1st were issued a $1.37 dividend. The ex-dividend date of this dividend was Monday, December 1st. This represents a $5.48 annualized dividend and a yield of 10.8%. LyondellBasell Industries’s dividend payout ratio is presently -146.13%.

Insider Activity at LyondellBasell Industries

In related news, EVP Kimberly A. Foley purchased 5,661 shares of LyondellBasell Industries stock in a transaction dated Wednesday, November 12th. The stock was bought at an average cost of $43.56 per share, with a total value of $246,593.16. Following the purchase, the executive vice president owned 67,688 shares in the company, valued at approximately $2,948,489.28. The trade was a 9.13% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.14% of the company’s stock.

Institutional Trading of LyondellBasell Industries

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Crews Bank & Trust grew its holdings in LyondellBasell Industries by 16.4% during the second quarter. Crews Bank & Trust now owns 1,245 shares of the specialty chemicals company’s stock worth $72,000 after acquiring an additional 175 shares during the period. New York Life Investment Management LLC grew its stake in shares of LyondellBasell Industries by 0.5% in the 2nd quarter. New York Life Investment Management LLC now owns 38,521 shares of the specialty chemicals company’s stock worth $2,229,000 after purchasing an additional 193 shares during the last quarter. State of Michigan Retirement System raised its holdings in shares of LyondellBasell Industries by 0.3% in the 2nd quarter. State of Michigan Retirement System now owns 78,165 shares of the specialty chemicals company’s stock worth $4,523,000 after purchasing an additional 200 shares in the last quarter. Cooper Financial Group lifted its stake in LyondellBasell Industries by 4.3% during the third quarter. Cooper Financial Group now owns 5,146 shares of the specialty chemicals company’s stock valued at $252,000 after purchasing an additional 211 shares during the last quarter. Finally, Ridgewood Investments LLC boosted its holdings in LyondellBasell Industries by 1.3% during the second quarter. Ridgewood Investments LLC now owns 16,770 shares of the specialty chemicals company’s stock worth $970,000 after buying an additional 212 shares in the last quarter. Institutional investors own 71.20% of the company’s stock.

LyondellBasell Industries Company Profile

LyondellBasell Industries N.V. (NYSE: LYB) is a global chemical company headquartered in Houston, Texas, that specializes in the production of polyolefins and advanced polymers. Through its extensive portfolio, the company supplies raw materials for a wide range of end markets, including packaging, automotive, construction, electronics and consumer goods. By combining proprietary process technologies with expertise in catalysts, LyondellBasell aims to deliver value-added solutions that enhance product performance and sustainability.

The company’s integrated operations encompass the manufacture of olefins and polyolefins, advanced polymer products, chemical intermediates and refining activities.