LyondellBasell Industries (NYSE:LYB) Price Target Raised to $68.00

LyondellBasell Industries (NYSE:LYB) had its target price hoisted by BMO Capital Markets from $64.00 to $68.00 in a research report report published on Monday morning,Benzinga reports. They currently have a market perform rating on the specialty chemicals company’s stock.

LYB has been the topic of several other research reports. Jefferies Financial Group lifted their price objective on shares of LyondellBasell Industries from $70.00 to $75.00 and gave the stock a “hold” rating in a research note on Thursday, April 16th. Weiss Ratings cut shares of LyondellBasell Industries from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Wednesday, June 24th. Wolfe Research boosted their price target on shares of LyondellBasell Industries from $38.00 to $62.00 and gave the company an “underperform” rating in a report on Tuesday, April 14th. Mizuho raised their price objective on LyondellBasell Industries from $62.00 to $66.00 and gave the stock a “neutral” rating in a research note on Monday. Finally, Wall Street Zen cut LyondellBasell Industries from a “buy” rating to a “hold” rating in a research note on Monday, July 13th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, eight have given a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat.com, LyondellBasell Industries currently has an average rating of “Hold” and an average price target of $72.56.

LyondellBasell Industries Stock Performance

LYB stock opened at $59.04 on Monday. LyondellBasell Industries has a twelve month low of $41.58 and a twelve month high of $83.94. The company has a quick ratio of 1.07, a current ratio of 1.64 and a debt-to-equity ratio of 1.05. The company has a market cap of $19.07 billion, a P/E ratio of -52.24, a price-to-earnings-growth ratio of 0.19 and a beta of 0.31. The business’s fifty day moving average is $59.99 and its 200-day moving average is $64.08.

LyondellBasell Industries (NYSE:LYB) last announced its quarterly earnings data on Friday, July 31st. The specialty chemicals company reported $4.30 EPS for the quarter, topping analysts’ consensus estimates of $3.44 by $0.86. LyondellBasell Industries had a positive return on equity of 17.44% and a negative net margin of 1.13%.The business had revenue of $9.18 billion during the quarter, compared to analysts’ expectations of $9.21 billion. During the same period in the previous year, the firm earned $0.62 earnings per share. The firm’s quarterly revenue was up 19.8% compared to the same quarter last year. Equities research analysts forecast that LyondellBasell Industries will post 8.91 EPS for the current year.

LyondellBasell Industries Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 8th. Investors of record on Monday, June 1st were issued a dividend of $0.69 per share. This represents a $2.76 dividend on an annualized basis and a dividend yield of 4.7%. The ex-dividend date was Monday, June 1st. LyondellBasell Industries’s dividend payout ratio (DPR) is presently -244.25%.

Hedge Funds Weigh In On LyondellBasell Industries

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Clearstead Advisors LLC lifted its holdings in shares of LyondellBasell Industries by 140.3% in the fourth quarter. Clearstead Advisors LLC now owns 668 shares of the specialty chemicals company’s stock valued at $29,000 after purchasing an additional 390 shares in the last quarter. Quarry LP bought a new position in shares of LyondellBasell Industries during the third quarter worth about $31,000. Key Capital Management INC acquired a new stake in LyondellBasell Industries in the 4th quarter valued at approximately $34,000. Fideuram Asset Management Ireland dac acquired a new stake in LyondellBasell Industries in the 4th quarter valued at approximately $34,000. Finally, Harbour Investments Inc. lifted its stake in LyondellBasell Industries by 74.7% in the 4th quarter. Harbour Investments Inc. now owns 884 shares of the specialty chemicals company’s stock valued at $38,000 after acquiring an additional 378 shares in the last quarter. 71.20% of the stock is owned by institutional investors and hedge funds.

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.